With Elon Musk now actively involved in the U.S. government, many believe Dogecoin could receive a significant boost. Musk has long been a supporter of meme coins, and his new role may bring more exposure and adoption. As Dogecoin develops, some question whether other meme coins like Pepe and Shiba Inu will follow suit and fully capitalize on the renewed attention in the space.
Will Musk and politics take Dogecoin to new heights?
Elon Musk's influence is growing, especially with his unexpected calls with Donald Trump and Ukrainian President Zelenskyy, adding significant weight to Dogecoin's future. Musk's involvement in major political and economic events often triggers ripples in the cryptocurrency market, especially for Dogecoin, which closely follows his movements.
Dogecoin's price recently soared to $0.19953, reflecting bullish market sentiment, partly due to Musk's influence and optimism surrounding Trump's election. If Musk continues to advocate for Dogecoin or participates in further global discussions, it could spark new interest and push prices beyond key resistance levels. Due to strong demand and accumulation patterns, Dogecoin's price could rise further, especially if external market factors like political changes or Musk's public support can sustain investor confidence.
Javon Mark predicts that Shiba Inu's next bullish move will reach $0.000081
Shiba Inu is likely to surpass the target of $0.00004883, with analysts like Javon Mark expecting a return to new highs. Mark suggests that Shiba Inu is preparing for a substantial rise, with prices potentially climbing to $0.000081. Additionally, he views the current Bitcoin bull market as a catalyst for this momentum, noting a strong correlation between Bitcoin and Shiba Inu exchange rates.
Data from IntoTheBlock shows a correlation of 0.54, which is positive for both assets. With this bullish outlook, Mark expects Shiba Inu's new highs to surge by 300% soon. Shiba Inu is currently trading at around $0.000019, up 2% from its 24-hour low, indicating an improvement in investor confidence.
Pepe's stock price is still 40% lower than its peak in 2024, raising concerns among investors.
Pepe reached an all-time high of $0.00001718 in May 2024, but the bullish trend has since faded. In recent weeks, Pepe's value has dropped by 40%. This decline suggests that the market is adjusting or may indicate that the initial hype driving Pepe's rise has cooled.
As Pepe's price stabilizes, investors are reassessing the initial factors that drove the rise, with external market conditions possibly playing a role in this slowdown. Overall market sentiment and adjustments in new trends may also lead to a temporary decline in Pepe's price.
