Dogecoin and Shiba Inu prices are down 2% and 4% today, according to CoinMarketCap. These declines are due to slow Bitcoin price activity and macroeconomic factors. Shiba Inu and Dogecoin prices are well correlated with Bitcoin.
When Bitcoin is down, Dogecoin and Shiba Inu prices fall. Legendary analyst Peter Brandt predicted that Bitcoin will drop to $78,000. Cryptocurrency expert Reckitt Capital said that the leading coin could fall below $90,000 if it loses $94,250.
Bitcoin is vulnerable to further losses below $94,250. This has triggered a sell-off in the cryptocurrency market, leading to a decline in the values of Dogecoin and Shiba Inu. If the leading coin drops below $90,000, the top meme coins could see further price declines.
Dogecoin and Shiba Inu prices have fallen due to market uncertainty. According to market expert The Kobeissi Letter, 2025 will see new economic policies, taxes, and rising inflation. Accordingly, the economist predicts stagflation next year.
As Federal Reserve Chairman Jerome Powell has indicated a smaller rate cut in 2025, the Fed’s position remains unclear. Since Dogecoin and Shiba Inu are considered risky investments, investors are cautious.
Some advantages of Doge
The bullishness on Dogecoin prices came from cryptocurrency expert Kevin Capital. He described the Doge/Bitcoin chart as interesting in a post on X. The expert said that Dogecoin has just tested a large golden pocket with a large demand candle. The expert also noted that the leading meme coin has maintained its 100-day exponential moving average (EMA), which is positive.
Kevin Capital said the daily moving average
Dogecoin may outperform Bitcoin in the near future if the MACD crosses higher.
This year, Dogecoin has proven its strength compared to the main currency. Dogecoin outperformed Bitcoin in 2024 with a return of 245% since the beginning of the year.