🐶 Meme Coins Crumble: Dogecoin and Shiba Inu’s Tailspin 🐾

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Imagine you’re at a party, and the DJ suddenly plays the world’s worst song. That’s pretty much what happened to Dogecoin and Shiba Inu in the last24 hours. The prices took a nosedive faster than my dignity at a high school reunion. All thanks to some macro events that turned the market into a sad puppy convention. 🎉📉

The Great Meme Coin Meltdown

According to CoinMarketCap, our beloved Dogecoin and Shiba Inu plummeted by over3% and2%, respectively. It’s like they saw a vacuum cleaner and just couldn’t hold it together. And who do we blame? Donald Trump and his tariff tantrums, of course. On Wednesday, he decided to announce a25% tariff on auto imports, and the market reacted like it had just found out it was adopted. 🚗💔

These tariffs are like that one relative who starts family drama at Thanksgiving. They’ve got everyone worried about a trade war, and apparently, that’s a big no-no for the crypto market. Investors are running scared, selling their meme coins faster than hotcakes at a breakfast buffet. And let’s not forget the retaliatory tariffs starting April2nd, which Trump has dubbed ‘Liberation Day.’ Because nothing says freedom like economic chaos. 🌎🔥

Then there’s the PCE inflation data, which dropped yesterday like a bad habit. The PCE index was up0.3% in February, which was expected. But the core PCE index? It jumped2.8% annually, which is higher than my hopes for a peaceful weekend. This is bad news for our canine coins because it means the Fed might keep interest rates steady, and we all know how much crypto loves a good rate cut. 📈😓

DOGE‘s Dilemma: To Bounce or Not to Bounce

Read more$70 million in 24 hours: Can Ethereum crack $4,000 thanks to whales?

Crypto analyst Master Kenobi (not his real name, probably) pointed out that Dogecoin is currently teetering on the edge of disaster. He mentioned that DOGE needs to bounce off the red trend line at $0.177, just like it did last September when we all thought2020 couldn’t get worse. If not, the yellow support line at $0.14 is the last hope, kind of like my New Year’s resolutions. 📉🤞

And let’s not forget Shiba Inu, which is basically Dogecoin’s less successful cousin. With DOGE’s potential decline, SHIB might just follow suit because, you know, misery loves company. IntoTheBlock data shows that SHIB whales are staying put, probably binge-watching Netflix and waiting for better days. The drop in large transactions is like a neon sign flashing “Stay Away!” 🚫🐳

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2025-03-30 08:13