The post Here’s Why The Dogecoin And Shiba Inu Price Crashed Again appeared on BitcoinEthereumNews.com.

Dogecoin and Shiba Inu prices have crashed again following their recent upward trend, which led to significant price gains. These price crashes are primarily due to the current macro environment and market uncertainty, which don’t favor risk assets like these meme coins.  Dogecoin And Shiba Inu Price Crash Amid Market Uncertainty Dogecoin and Shiba Inu prices have crashed amid market uncertainty, thanks primarily to the macro side. The US job report released on October 4 suggested that the US economy is healthier than many imagined. However, this has raised concerns that the Federal Reserve might no longer be in a hurry to cut interest rates.  The Fed cut interest rates by 50 basis points (bps) at its September FOMC meeting following concerns that the US economy might be heading into a recession if the US Central Bank didn’t act fast and implement a monetary easing policy. However, this recent job report showed that the labor market is solid, contrary to experts’ opinions.  Considering that the US economy is healthier than earlier imagined, the Fed might not cut rates as anticipated by the markets. The market had favored the Fed cutting rates by an additional 50 bps at its November FOMC meeting, which would have been positive for risk assets like Dogecoin and Shiba Inu.  However, the CME FedWatch data shows that the odds for a 50 bps rate cut have since dropped to 0% following the release of the job report. Instead, the odds favor only a 25 bps rate cut. This isn’t favorable for Dogecoin and the Shiba Inu price, as investors are likely to lower their risk appetite once more if the Fed doesn’t cut interest rates by 50 bps as earlier envisaged.  Geopolitical Tensions And US Elections Geopolitical tensions and the upcoming US elections have also contributed…

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Filed under: News - @ October 8, 2024 4:21 pm