Shiba Inu (SHIB) Outpaces TRUMP Meme Coin's Weekly Gains Despite President Trump Offering a Black-Tie Dinner and White House Tour

A recent report suggests that Shiba Inu outpaced the weekly gains of the TRUMP meme coin despite President Trump offering a black-tie dinner and White House tour

A recent report by Coinpedia Markets highlights that Shiba Inu (SHIB) outpaced the weekly gains of TRUMP (TRUMP) despite President Trump offering a black-tie dinner and White House tour for the token’s largest holders.

According to the report, Shiba Inu soared by 36% in the past week. However, TRUMP reported a lower percentage weekly gain.

Notably, on-chain data shows that SHIB’s price rallied from around $0.00001260 to $0.00001720 in the past period. This performance saw Shiba Inu rival other crypto assets, including Donald Trump’s meme coin.

According to Coinpedia Markets, the Official Trump coin price only spiked by 28%. Notably, data from CoinMarketCap suggests that TRUMP’s price rallied from around $11 to $14 last week.

“Despite Trump offering the top holders of his eponymous token a black-tie dinner and a private White House tour, the weekly gains were outpaced by Shiba Inu,” the tweet from Coinpedia Markets reads.

Black-Tie Dinner and White House Tour for TRUMP Holders

As previously reported, the top 220 largest TRUMP token holders will participate in a black-tie dinner with President Trump on May 22 in the U.S. At the event, a special reception and a private White House tour will be held for the top 25 TRUMP token holders.

The offer impacted TRUMP’s price at the time of the initial announcement in April, with its valuation soaring to $3 billion. However, interest in TRUMP declined this month as other meme coins outperformed its weekly gains.

Meanwhile, Coinpedia Markets mentioned other notable milestones Shiba Inu achieved recently. It claimed that Shiba Inu ranked as the fifth most-swapped token in the popular Ethereum wallet MetaMask last week.

Recall that Shiba Inu achieved a similar milestone last year, joining the likes of Pepe, BabyDogeCoin, Pepe Unchained, and Hex.

Positive Indicators

In terms of technical indicators, Coinpedia Markets stated that Shiba Inu was trading above all major daily and weekly moving averages. At the time of the tweet, it claimed that SHIB had a relative strength index (RSI) of 71.

Following Shiba Inu’s recent surge, the report stated that SHIB broke out of a falling wedge, mirroring a bullish setup observed in September 2024.

Based on this move, Coinpedia Markets sets $0.02148 as the resistance target Shiba Inu must flip to rally to a lofty height of $0.03575 this month. Hitting the $0.03575 target demands a surge of 118% from the current price of $0.01639.

Growing Utility and Demand

Moreover, Coinpedia also suggests that Shiba Inu’s demand and utility have skyrocketed massively in recent weeks. It claimed this was due to Shibarium's on-chain growth, the network’s integration into Zypto App, and Bury 2.0 staking incentives.

The report also highlighted Shibarium’s increased activity, noting that the number of accounts registered on March 1 was 240,421, which later increased to 268,877 by May 10. The analysis also claimed that Shibarium’s transaction volume soared from 931 million to 1.15 billion within this period, signaling widespread adoption.

At press time, Shibarium's total account had soared to 268,981, while the total transaction stood at 1.17 billion.