| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107300.1000000000 |
| ETH | $2429.9710000000 |
| BNB | $645.6191000000 |
| XRP | $2.1993480000 |
| ADA | $0.5621588000 |
| SOL | $147.2973000000 |
| DOGE | $N/A |
| DOT | $3.3606800000 |
| LTC | $86.1850000000 |
| LINK | $13.2015200000 |
Category: CRYPTO NEWS
The post Here’s Why The Dogecoin And Shiba Inu Prices Have Been On A Recovery Trend appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Dogecoin and Shiba Inu prices have been recovering since their significant declines at the end of February. This recovery trend has been sparked by macro factors, which provide a bullish outlook for the foremost meme coins in the long term. Why Dogecoin And Shiba Inu Prices Are Gaining Momentum CoinMarketCap data shows that the Dogecoin and Shiba Inu prices have recorded gains in the last seven days, which is a positive considering that the foremost meme coins had significantly crashed a week earlier. This recovery trend is thanks to macro factors such as the weak US job data. The US nonfarm payrolls increased by 151,000 in February, below expectations of 158,000. Meanwhile, the unemployment rate rose to 4.1%, higher than the expected 4.0%. Weak job data is bullish for Dogecoin and Shiba Inu prices. The US Federal Reserve could be forced to ease its quantitative tightening policies when the labor market looks weak. The Fed’s easing of tightening policies leads to rate cuts, which sparks a bullish sentiment among investors. They are willing to allocate more capital to risk assets like Dogecoin and Shiba Inu. Another reason the foremost meme coins have been on a recovery trend is that US President Donald Trump finally signed an executive order creating the Strategic Bitcoin Reserve and Digital Asset Stockpile. This executive order has further given legitimacy to Bitcoin and other crypto assets like Dogecoin and Shiba Inu. As a result, they could witness more adoption among retail and institutional investors. As such, their prices are simply reacting to these bullish fundamentals, which explains the recovery trend seen in the last seven days. Total crypto market cap currently at $2.7 trillion. Chart: TradingView Another development that is set to boost…
2025-03-09T04:35:06+00:00