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Here’s Why The Dogecoin And Shiba Inu Prices Are Falling Today
Dogecoin (DOGE) and Shiba Inu (SHIB), two popular meme cryptocurrencies, have been under pressure in recent days. As of this writing, their prices are falling, with DOGE down over 10% and SHIB dropping by around 9%. The decline is attributed to a combination of factors that will likely continue to impact these tokens throughout the coming year.
Market commentator The Kobeissi Letter has noted that there will be significant economic policy changes in 2025. This shift could lead to rising inflation, tariffs, and increased uncertainty, making investors skeptical about investing in risk assets like DOGE and SHIB. Additionally, Federal Reserve Chair Jerome Powell hinted at lower interest rate cuts next year, further exacerbating the situation.
Despite these negative factors, some crypto analysts have highlighted positives for Dogecoin. For instance, a recent X post by Kevin Capital noted that the DOGE/BTC chart is quite intriguing, with DOGE having returned to test its macro golden pocket and creating a significant demand wick. Furthermore, the analyst pointed out that the 100 Exponential Moving Average (EMA) has held strong on the daily timeframe, suggesting potential strength for the meme coin in the future.
Additionally, the MACD looks set to make a fresh cross to the upside, indicating that DOGE may show resilience against Bitcoin in the short term.
Source: bitcoinist.com
