Meme coins are on the rise! Dogecoin (DOGE) and Shiba Inu (SHIB) have seen huge jumps in price recently, with DOGE up 10% and SHIB up a whopping 22% in the last 24 hours. What’s driving this surge?
It’s a mix of global economic news and exciting developments within the meme coin world.
Global Economy Boosting Crypto
World governments are taking steps to boost their economies, and this is giving investors confidence to put money into riskier assets like Dogecoin and Shiba Inu.
- China is taking action: The People’s Bank of China has announced rate cuts and a stimulus package to get the economy going again.
- The US economy is looking good: Recent data shows the US economy is healthy, with strong job numbers and GDP growth.
- Interest rates are going down: The US Federal Reserve has cut interest rates, and this means more money is likely to flow into riskier investments like crypto.
Bitcoin is also having a good run, which is helping Dogecoin and Shiba Inu. These meme coins often move in the same direction as Bitcoin, so when Bitcoin goes up, they tend to follow.
Exciting Developments for Dogecoin and Shiba Inu
It’s not just the global economy that’s driving these meme coins higher. There are some exciting things happening within the Dogecoin and Shiba Inu ecosystems:
Dogecoin:
- Smart contracts are coming: QED Protocol is partnering with Nexus to build a zero-knowledge virtual machine (zkVM) on the Dogecoin network. This will allow for smart contracts, making Dogecoin more versatile and useful.
Shiba Inu:
- A stablecoin is on the way: Shiba Inu’s team is planning to launch a stablecoin called SHI, which will be a big addition to their ecosystem.
- Privacy is a priority: The Shiba Inu team is hinting at the potential launch of a layer-3 privacy chain, which could attract even more users.
What’s next?
Analysts are predicting more gains for both Dogecoin and Shiba Inu. With governments continuing to ease monetary policies, and exciting developments within the meme coin world, the future looks bright for these popular cryptos.
- Dogecoin could hit $0.150: Analyst Ali Martinez believes Dogecoin is strong and could reach $0.150.
- October is a good month for Shiba Inu: Shiba Inu has historically seen good performance in October, so there’s a chance for further gains.
Whales are already getting ready for the potential price surge. They’ve been accumulating Dogecoin and Shiba Inu over the past few days, suggesting they’re expecting a big move. /p>
