Dogecoin, Shiba Inu and Pepe all crashed today, causing bearish feelings to the first meme coin. Here’s the crash at this price Donald Trump’s tariffs An announcement that led to a wave of sales in the crypto market.
Why Dogecoin, Shiba Inu and Pepe all crashed
COINMARKETCAP data It shows that Dogecoin, Shiba Inu and Pepe all crashed today. This happened because Trump’s announcement 10% basic tariffs in all countries. The US President also announced customized tariff rates in certain countries, including heavyweights such as China, the European Union and Japan, so it didn’t stop there.
Dogecoin, Shiba Inu and Pepe crashed quickly behind the announcement as they caused a wave of sales among investors. The movement of the cards is set to spark Trade wars These countries are expected to retaliate with rebuttals that could have a negative impact on the global economy. Experts also increased the likelihood that the US will witness high inflation and recession in the coming months.
Such development is bad Dogecoin, Shiba Inuand Pepe already has some bearish feelings among investors as investors are likely to reduce their exposure to these risky assets if inflation or recession begins, leading to a sellout following Trump’s announcement and ultimately a decline in these meme coins.
It’s worth mentioning that US Federal Reserve System We currently employ a quantitative toning (QT) policy that helps reduce inflation to the desired 2%. The US Central Bank could be forced to implement more QT measures if there is concern that Trump’s movement could lead to higher inflation.
This possibility has probably suffocated the minds of investors, leading to a drop in prices for Dogecoin, Shinobi and Pepe. Meanwhile, the Fed has not shown any intention to cut interest rates anytime soon. This is also bearish for Dogecoin, Shiba Inu and Pepe.
Doge at Make-or Break level
x post, Crypto Analyst Ali Martinez He said Dogecoin is on the makeup or break level. He argued that if $0.16 is held, the rally could continue to reach $0.57.
However, if the first meme coin falls below this level, it is likely to drop to $0.06. As these meme coins share a strong positive correlation, such a massive crash could also affect Shiba Inu and Pepe.
Crypto analyst Master Kenobi had warned that Dogecoin should bounce back support for $0.17. He further stated that if that doesn’t happen, the final hope will be at a support level of $0.14. Analysts suggested that a drop below that support line marks the end of Doge’s Bull Run. Interestingly, in another post, he states that Pepe might already be in the bear market, comparing the current chart of 2021 Meme Coin with the ADA chart.
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