Former US President Donald Trump is now accepting Shiba Inu for his campaign donations. Besides SHIB, the Trump campaign also accepts Bitcoin, Ethereum, Dogecoin, Solana, and XRP. In his “Make America Great Again” campaign, the presidential candidate presents himself as the defender of American freedom and innovation prepared to welcome new technologies.
There were speculations surrounding Trump’s investment, considering his past criticism of digital assets. Only after a recent tax filing on April 14 revealed that Trump is a significant cryptocurrency holder, owning $250,000–$500,000 worth of crypto assets, largely derived from licensing fees tied to the use of his image in popular NFTs.
That being said, Trump’s acceptance of SHIB boosts the coin’s visibility and legitimacy, as this news would attract massive media attention, potentially attracting new investors and users. Most importantly, SHIB’s addition would likely increase the number of transactions, highlighting practical use cases and functionality.
Meanwhile, the meme coin has gained massive traction, as evidenced by the surge of non-zero Shiba Inu wallets in less than a week.
Shiba Inu Wallets at All-Time High
Data from Glassnode indicated that on May 15, the number of Shiba Inu holders exceeded 1.4 million, reaching a new peak, before retracting at the time of publication. While wallet addresses with non-zero balances were not at their peak, current figures indicate that the SHIB Army grew by nearly 100,000 in a year. It is worth noting that the Shiba Inu Army consisted of approximately 1.29 million members last year.
Price-wise, the leading meme coin displayed signs of a pattern called a “bull flag.” This suggests a promising trend for SHIB, indicating a potential price increase. Following a brief price surge, the meme coin is poised to continue its impressive upward trend, which has already seen a whopping 210% rise, per market experts. Digging deeper: SHIB currently aims for a target price of $0.000081. It will represent more than a threefold increase from its current price if it reaches this point.