For what reasons has the price of Shiba Inus and Dogecoin risen today?


Dogecoin and Shiba Inu's recent price increases are mostly attributable to the Bitcoin price recovery, therefore the same forces that are propelling Bitcoin's price are also propelling these meme currencies' price increases. Resilient news coming from the US is helping to propel this comeback.

Job markets in the United States are showing signs of stabilization, according to the most recent JOLTS survey. The job-to-worker ratio has apparently hit 1.2, its lowest point in three years. The last low point came in 2021, during the last bitcoin bubble market. While the number of layoffs has decreased, the rate of employee turnover has remained relatively same.

At the same time, investor confidence has skyrocketed, leading to a flood of capital into digital assets like Bitcoin and Ethereum. A study from CoinShares states that digital asset investment products received $185 million in only the last week, indicating that both retail and institutional investors are positive on the market. Because of these factors, the price of Bitcoin has soared, and altcoins such as Shiba Inu and Dogeocin have also seen price increases.

Dogecoin and Shiba Inu have both seen increases over the last 24 hours, but Shiba Inu has fared far better. According to statistics from CoinGecko, Dogecoin's stats showed a rise of 3.7% in the 24-hour period. Its market valuation increased to $23.6 billion as a result, and its price soared past $0.16.

Based on the statistics provided by CoinGecko, Shiba Inu has also seen increases in the double digits, reaching a whole of 10.2%. The meme coin's market value has risen past $15.4 billion as a consequence of this comeback, which has allowed it to surpass the $0.000026 barrier.

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