He Dogecoin and Shiba Inu prices They are increasing today, causing a bullish feeling among investors. This comes after the huge wave of sales earlier of the week, which led to a significant decrease for the most important memes coins.
Why the prices of Dogecoin and Shiba Inu are increasing
Coinmarketcap data It shows that Dogecoin and Shiba Inu prices are increasing today, indicating that a bullish reversal can be on the horizon. This price increase is due to developments on the macro side, with the Federal Reserve Leaving interest rates without changes in the range of 4.25% to 4.5%.
The maintenance rates of the federal reserve without changes are usually bassists for the prices of Dogecoin and Shiba Inu. However, fed chair Jerome Powell’s The speech after the FOMC meeting provided an upward impulse for the cryptography market, so the most important memes coins are increasing today.
Although Powell said they were in no hurry to reduce rates, he added that financial institutions were free to serve cryptographic clients provided that the risks involved were adequately administered. This immediately caused an upward feeling among cryptographic investors, since the Central Bank of the United States has indirectly given approval for cryptographic adoption among banks.
Also, it comes as Morgan Stanley CEO Ted Pick recently revealed that the bank was working with regulators to explore cryptographic services. As such, Powell’s speech is timely and provides a bullish impulse for Dogecoin and Shiba Inu prices and the wider cryptography market.
He Bitcoin price He had also increased above $ 105,000 after Powell’s speech. The Bitcoin rally has also contributed to the increase in prices of Dogecoin and Shiba Inu. It is known that the most important meme coins share a strong positive pricing with cryptographic badge and rally when BTC does. Based on the correlation, the Kevin Capital cryptography analyst declared that Dogecoin’s price is waiting for BTC to make his next great movement, and when that happens, it will be explosive to the meme coin.
What’s still for Dog and Shib
In an X post, cryptographic analyst Tarded merchant He provided ideas about what could come next for the price of Dogecoin. In an X position, he said that Dogecoin could witness a similar rally from 6 months to one in the 2021 bull race. This occurred when he identified a comparable Dux structure that arose in the previous cycle.
In another publication X, he declared that the Doge/BTC graph suggests that a large candle could appear next month for the price of Dogecoin. His accompanying table showed that the most important meme coin could recover to As high as $ 2 When this great candle occurs.
Meanwhile, Crypto Analyst Investing has provided an upward perspective for the price of Siba Inu. He pointed out that while other meme coins crashed, Shibs has remained strong with a correction of less than 20% in January. He added that Shiba Inu has formed an investment of W Alcial and is sitting among the key levels of Fibonacci.
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