The Dogecoin and Shiba Inu prices currently have difficulty maintaining a bullish dynamic because they continue to suffer significant backgrounds. This downward trend is due to macrofactors that have produced market uncertainty and triggered a barical mood among investors.
Why the prices of Dotecoin and Shiba Inu have to struggle
Coinmarketcap data Shows that the prices of Dotecoin and Shiba Inu have dropped in the last 24 hours. The most important memes coins have recently not recorded a continued rally because they continue to suffer downwards. These bearish prospects for Dogecoin and Shiba Inu are due to trade tariffs that Donald Trump has implemented and those who have announced other countries as retaliation and triggered concerns about a potential trade war.
Donald Trump recently announced that he would pay 25% to all steel and aluminum imports. So far, the US President has also announced tariffs for imports from Canada, Mexico and China. Although an agreement was achieved with Mexico and Canada The tariff for Chinese goods is still standing for imports.
This has also forced China to implement import taxes on some US goods that come into force on today. These tariffs have expressed concerns about a trade war and triggered a bearish feeling among investors and dealers, which is why the prices of Dotecoin and Shiba Inu continue to fight. Trade wars are usually for the market because they could slow down economic growth.
In the meantime, it is also worth mentioning that Bloomberg will report that Trump will announce “mutual tariffs” this week, which has also caused more market uncertainty and has contributed to why the prices of Dogecoin and Shiba Inu are struggling.
In addition to these tariffs, the United States Federal reserve Hawkian attitude is another reason why these Meme coins have to struggle. It remains uncertain when the FED will lower interest rates next, since the committee continues to pronounce concerns about inflation. Therefore, traders are skeptical of assigning capital for risk assets such as cryptocurrencies that are Bärisch for the prices of Dotecoin and Shiba.
Doge and Shiba Inu still expect them to gather
Despite these short-term bear prospects for the prices of Dogecoin and Shiba Inu, these meme coins are expected to be expected in the long term. Crypto -analyst Dealer Tarderrade predicted that Dogecoin could still achieve 3.69 US dollars. The analyst found that Doge alternatively moved along a parallel channel with and without over swinging. In accordance with this, he noticed that Doge could achieve this goal of 3.69 US dollars for the next touch.
In the meantime, Krypto -Analyst Javon Marks predicted that Shiba Inu could gather up to $ 0.0001553. He explained that Shib had already confirmed bull signals that indicate a sequel and at the same time broke out of a much larger resistance trend that implies a rally of $ 0.000081. The analyst noticed that a rally could come next to $ 0.0001553 if Shiba Inu achieved this goal of $ 0.00000081.
Selected picture of Unsplash, diagram of tradingview.com