the Dukwin and Chipa Ino prices It is currently struggling to maintain an upward momentum as they still suffer from a significant decline. This declining trend is due to the total factors that led to uncertainty in the market and sparked declining feelings among investors.
Why are the prices of Dogecoin and Shiba Inu are struggling
Coinmarketcap data It indicates that the prices of Dogecoin and Shiba Inu have decreased over the past 24 hours. The first MEME currencies have also failed to record a continuous gathering recently with the continued suffering of the declining pressure. This landmark of Dogecoin and Shiba Inu is caused by the customs tariff Donald Trump And that carried out that of other countries announced revenge, which raised concerns about the birth of the potential trade war.
Donald Trump recently announced that he would put a 25 % tax on all steel and aluminum imports. Before now, the US President also announced definitions about imports from Canada, Mexico and China. Although an agreement is reached with Mexico and Canada To stop imports, the tariff on Chinese goods is still in place.
This has also forced China to implement import taxes on some American goods, which enter into force today. This customs tariff raised concerns about a commercial war and sparked enormous feelings between investors and merchants, which is why Dogeco and Shiba Inu continues to struggle. Commercial wars are usually landmarks because they may slow economic growth.
Meanwhile, it should also be noted that Bloomberg stated that Trump is scheduled to announce a “mutual tariff” this week, which also led to more uncertainty in the market and contributed to the reason for fighting the prices of Dogecoin and Shiba Inu.
Besides these definitions, the United States Federal Reserve The hawk position is another reason for the struggle of these coins. It remains certain when the Federal Reserve will reduce interest rates after that, as the committee continues to raise concerns about inflation. As such, traders are skeptical of allocating capital to asset risks such as cryptocurrencies, which are declining for DOGECOIN and Shiba Inu.
Doug and Jiba Eno are still expected to gather
Despite this short -term downward view of Dogcoin and Shiba Inu, these Meme coins are still expected to gather in the long run. Encryption Trader tardigrade Expect that Dogecoin still could reach $ 3.69. The analyst pointed out that Dougi was moving along a parallel channel with and without overcoming it instead. Watching with this, note that for the next touch on top, Dog can reach this goal $ 3.69.
During, Javon Marx encryption analyst It is expected that Sheba Eno could reach $ 0.0001553. He stated that SHIB has already confirmed the bull signals that indicate a continuation as it is also dismantled in the direction of much greater resistance, which means that the gathering is to $ 0.000081. The analyst noted that the gathering to $ 0.0001553 can then come as soon as Shiba Eno reaches this goal of $ 0.000081.
Distinctive image from Unsplash, Chart from TradingView.com
