Dogecoin and Shiba Inu are booming today, offering an optimistic perspective for the biggest pieces, which have exchanged aside for some time now. This price wave came after developments on the macro side, which provided a certain form of market clarity.
Why do Dogecoin and Shiba Inu are booming today
Coinmarketcap data shows that Dogecoin and Shiba Inu have increased by more than 4% in the last 24 hours. This price wave came following the decision of the American federal reserve to maintain the unchanged prices. Although the decision not to reduce rates is generally lower for cryptographic assets, Jerome Powell's speech After the FOMC meeting, gave a certain clarity, which led to the push.
The Fed chair said that the American economy was in the right place, inflation falling. He also indicated that Trump prices were the only concern, which is why they always chose to maintain stable rates. The prices have become optimistic for cryptographic assets like Dogecoin and Shiba Inu, investors considering Bitcoin as coverage against this macro event.
Last week, Bitcoin reached $ 97,000 in the midst of pricing uncertainties, while Dogine and Shiba Inu held stable and seemed ready to a wave. Now this wave came following the latest Fed and Powell's speech. It should be mentioned that BTC reached up to $ 99,000 after the speech, which also caused Doge and Shib.
Dogecoin and Shiba Inu are also increasing due to the Us China Trade War Talks, which should start on May 10. The two largest economies have imposed themselves on each other, which had a negative impact on the market. As such, with the commercial negotiations that should begin, it is optimistic that the two countries could reach an agreement, which would be optimistic for the main parts even and the wider cryptography market.
Meanwhile, the Secretary in the United States of the Treasury Scott Bessent revealed that the United States could soon conclude trade agreements with 17 of its main business partners. Market players also consider this optimistic development because it will facilitate the negative impacts of Trump prices.
Doge could reach $ 0.30 on this break
Cryptographic analyst Tarden late suggested that Dogecoin could reach $ 0.30 on this potential escape. In a post X, he said that DOGE's daily graphic seems to form an “diamond bottom” reversal scheme, indicating a potential change for the main part of a recent downward trend to an upward trend.
His accompanying table has shown that the goal is $ 0.28, although Dogecoin can also break the psychological price level of $ 0.30. Crypto Master Kenobi analyst also provided a bullish perspective for the memes piece, suggesting that it could finally reach the level of $ 1 long awaited if BTC maintains its bullish momentum.
Istock star image, tradingView.com graphic
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