The price of Dogecoin and Shiba Inu took a hit recently, dropping over 3% in just 24 hours. Let’s look at why.
The Holiday Slump
A big factor is the holiday season. Many traders take a break during this time, leading to less buying and more selling, pushing prices down. Looking back, both Dogecoin and Shiba Inu have ended December in the red more often than not.
Trump’s Bitcoin Promise Fizzles?
Another potential reason is the decreasing likelihood of a “Strategic Bitcoin Reserve” under a potential future Trump administration. Bitcoin’s price reacted to this news, and since Dogecoin and Shiba Inu often move in the same direction as Bitcoin, they followed suit.
A Look Ahead: Bullish Predictions?
Despite the recent dip, some analysts are optimistic. Several crypto experts predict a price rebound for both Dogecoin and Shiba Inu in the near future, pointing to historical patterns and bullish indicators. Some even suggest significant price increases are possible.
