The prices of Dogecoin and Shiba Inu are in green today, providing a rapid approach to the most important meme coins. This price increase is due to many developments, including US federal reserve Soon indicate to reduce monetary policies.
Why are the prices of dogcoin and shiba inu in green today
Coinmarketcap data The prices of Dogcoin and Shiba Inu have increased by more than 3% and 2% respectively in the last 24 hours. Growed up after the most important meme coin Fomc meeting On March 19, the US Federal Reserve was indicated to reduce monetary policies soon. The US Central Bank announced that it would slow down its balance sheet runoff, starting from April 1.
Balance sheet runoff is usually one of the quantitative tightens (QT) policies that adopt US Central Bank. For example, slowing down this balance sheet runoff can pave the way for quantitative ease (Qi) policies. It is fast for Dogicine and Shiba Inu Since prices, it will allocate the most capital in allocating the most capital to promote investors confidence.
In addition, Ripple CEO Brad Garlinghouse announced yesterday that the US SEC agreed. Leave Ripple SaseWhich is a full -fasting for the crypto industry as a whole. This development also contributed to the XRP along with the coins of the memes along with the coins behind this news.
After this news, Bittonomial first announced the launch of CFTC-regulated XRP futures In America. This is a boom for the prices of dogcoin and shiba Inu, as it can pave the way for the launch of regulated futures products for these meme coins, which will attract institutional money.
Meanwhile, it is worth noting that the price of bitcoin increased to $ 87,000 after the Fed announcement. For example, the prices of Dogcoin and Shiba Inu were obliged to grow with the major crypto, with their strong positive correlation. Bitcoin is returning to the bullish region, which has promoted the confidence of investors to allocate their capital to these meme coins.
What for meme coins next
Crypto analyst Trader tardigrad It turned out that the 4-hour chart of dogcoin shows a brakeout from a symmetric triangle, indicating that a rapidly reversed can occur on the horizon. The chart with him showed that Dogge can rally up to $ 0.19 in the short term, which can pave the way to upside and upside down.
In another X post, the analyst stated that Dogcoin’s stochastic Relative Strength Index (RSI) suggests that Dogge can stop his downtrend at his current price level and aim to mark the $ 1 mark.
Meanwhile, Shiba Inu also claims a rapid outlook. Shib Burns has touched more than 800% of the sky in the last seven days, with 551 million tokens. Crypto analyst Javon Marx It is predicted that Shib may still come closer to his current all-time high (Ath) and possibly cross it.
Specially displayed image from UNSPLASH, chart from tradingView.com
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