Shiba Inu (SHIB) is up 5.5% this week to $0.0000161, outperforming the broader crypto market, where Bitcoin (BTC) has gained 1.7% to $98,985. However, SHIB's upside momentum appears to be fading. The memecoin initially plunged 39% due to tariff-related market turmoil earlier in the week but has since recovered and is now consolidating ahead of the crucial Trump-Xi talks.
Investors remain uncertain about the outcome of these discussions, as they could lead to either a favorable deal with China or another escalation in trade tensions. Meanwhile, Shiba Inu has received a boost from its partnership with the United Arab Emirates, aimed at improving citizen-focused governance, green infrastructure, and public service efficiency. This collaboration provides additional support for SHIB’s price outlook.
