Why Dogecoin and Shiba Inu Prices Are Pumping Today
Dogecoin and Shiba Inu are on the rise again, sparking optimism among investors. This comes after a brutal wave of sell-offs earlier in the week that dragged down the top meme coins.
Dogecoin and Shiba Inu are flashing green today, signaling a potential trend shift, according to CoinMarketCap. One major driver? The Federal Reserve’s decision to keep interest rates steady at 4.25% to 4.5%. With macroeconomic conditions stabilizing, the crypto market is showing signs of strength.
Fed Chair Jerome Powell stated they aren’t rushing to cut rates, but he did hint that financial institutions could engage with crypto customers—so long as risks are properly managed. That comment alone sent a wave of confidence through the market, as it indirectly signaled more institutional crypto adoption.
Adding fuel to the fire, Morgan Stanley CEO Ted Pick recently confirmed the firm is actively exploring crypto services with regulators. Powell’s statement couldn’t have come at a better time, helping boost not just Dogecoin and Shiba Inu, but the broader crypto market.
$BTC also surged past $105,000 following Powell’s remarks, and history shows that when BTC pumps, meme coins follow. Crypto researcher Kevin Capital highlighted this trend, stating that Dogecoin is closely tracking Bitcoin’s movements and could be gearing up for a major breakout.
Crypto analysts are eyeing explosive moves ahead. One expert pointed to Dogecoin’s price structure, suggesting a repeat of the legendary 2021 bull run over the next six months. A similar setup played out in the last cycle, hinting that DOGE could be on the verge of another parabolic run.
Meanwhile, Investing Haven sees a strong case for S$SHIB continued rise. Unlike other meme coins that crumbled in January, SHIB held firm with a modest pullback of less than 20%. The analyst noted that SHIB is forming a bullish W reversal pattern and is hovering around key Fibonacci levels—both strong indicators of a potential breakout.