Why Did The Dogecoin And Shiba Inu Prices Surge Over 10%?
The Dogecoin and Shiba Inu prices have seen major price surges over the last few days. In one day alone, both meme coins saw their values skyrocket by more than 10%, putting them on the path to recovering their lost gain...
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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
The Dogecoin and Shiba Inu prices have seen major price surges over the last few days. In one day alone, both meme coins saw their values skyrocket by more than 10%, putting them on the path to recovering their lost gains from the last few months. As these increases excite investors, let’s take a look behind the curtain and see what it is that has been driving this price recovery.
Donald Trump To Go Easy On ChinaThe crypto market crashes that began in January 2025 were spurred by US President Donald Trump’s tariff wars with other countries, mainly China, that seemingly came out of nowhere. As the president had placed tariffs on China, the country had retaliated with its own tariffs on the US, triggering an all-out tariff war. Additionally, over 180 countries were hit with Trump’s tariffs, sending the market into disarray.
In early April, though, Trump announced that he would be suspending tariffs on all the other countries for 90 days, excluding China. This is to give time for negotiations as other countries come to the table. However, it seems the president is also looking favorably on China with the latest announcement.
Earlier this week, Donald Trump said in an interview in the Oval Office that the tariffs on China are not expected to be high. To put this in context, the US currently has 145% tariffs on China, and both countries are expected to be in negotiations. According to the US president, “it won’t be anywhere near that high. It will come down substantially, but it won’t be zero.”
Once this news got out, the market responded very positively. For one, the Bitcoin price went from $84,000 to $94,000, adding over $100 billion to its market cap in a matter of hours. This rally naturally rubbed off on the likes of Dogecoin and Shiba Inu, sending their prices rocketing in the same time frame.
Dogecoin And Shiba Inu Prices ReactIn the aftermath of the Trump announcement, Dogecoin and Shiba Inu saw a significant rise in interest from crypto investors. For Dogecoin, its daily trading volume bounced over 100% on Wednesday to cross $2 billion. Its price then rose from below $0.17 to above $0.18 in a matter of hours, according to data from CoinMarketCap.
In the same vein, the Shiba Inu trading volume for Wednesday rose 88% to cross $315 million, one of its highest daily trading volumes so far for the month of April. Similarly to Dogecoin, the Shiba Inu price rose by more than 10% to go from its daily low of $0.00001288 to $0.0000189.
With two months still left to go in Trump’s 90-day freeze window, the prices of cryptocurrencies are expected to keep rising across the board. Naturally, Dogecoin and Shiba Inu are expected to lead the meme coin rally as the top two largest cryptocurrencies in this category.
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