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Bullish
Here’s Why The Dogecoin And Shiba Inu Prices Crashed Today
Why The Dogecoin And Shiba Inu Prices Crashed
CoinMarketCap data shows that Dogecoin and Shiba Inu prices have crashed over 3% in the last 24 hours. The holiday season has contributed to the price crash for the foremost meme coins. Traders are known to stay out of this market during this period, which sparked a wave of sell-offs, leading to these price declines. Historical data also shows that it isn’t out of place for the Dogecoin and Shiba Inu prices to record a significant correction during this period. DOGE has closed December in the red in two out of the last three years, including during the 2021 bull run. Like Dogecoin, the Shiba Inu price has also closed December in the red in two out of the last three years.
Meanwhile, another reason Dogecoin and Shiba Inu prices could have crashed is the increasing likelihood that Donald Trump will not create the Strategic Bitcoin Reserve as promised. Bitcoin began to price into this initiative right after Trump won the US presidential elections.
However, in the past few days, experts like Bitwise’s Jeff Park have suggested that it is unlikely that the Bitcoin Reserve will be created in 2025. The Bitcoin price has corrected on the back of this development, dragging the Dogecoin and Shiba Inu prices alongside. These meme coins share a strong positive price correlation with the flagship crypto. As such, it is normal for them to experience such price crashes as BTC corrects. $BTC $ETH $XRP #GMTBurnVote #BitwiseBitcoinETF #CryptoRegulation2025 #BTCXmasOrDip? #XmasCryptoMiracles
Why The Dogecoin And Shiba Inu Prices Crashed
CoinMarketCap data shows that Dogecoin and Shiba Inu prices have crashed over 3% in the last 24 hours. The holiday season has contributed to the price crash for the foremost meme coins. Traders are known to stay out of this market during this period, which sparked a wave of sell-offs, leading to these price declines. Historical data also shows that it isn’t out of place for the Dogecoin and Shiba Inu prices to record a significant correction during this period. DOGE has closed December in the red in two out of the last three years, including during the 2021 bull run. Like Dogecoin, the Shiba Inu price has also closed December in the red in two out of the last three years.
Meanwhile, another reason Dogecoin and Shiba Inu prices could have crashed is the increasing likelihood that Donald Trump will not create the Strategic Bitcoin Reserve as promised. Bitcoin began to price into this initiative right after Trump won the US presidential elections.
However, in the past few days, experts like Bitwise’s Jeff Park have suggested that it is unlikely that the Bitcoin Reserve will be created in 2025. The Bitcoin price has corrected on the back of this development, dragging the Dogecoin and Shiba Inu prices alongside. These meme coins share a strong positive price correlation with the flagship crypto. As such, it is normal for them to experience such price crashes as BTC corrects. $BTC $ETH $XRP #GMTBurnVote #BitwiseBitcoinETF #CryptoRegulation2025 #BTCXmasOrDip? #XmasCryptoMiracles
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