Dogecoin, Shiba Inu, and PEPE Have All Crashed Today

CoinMarketCap data shows that Dogecoin, Shiba Inu, and PEPE have all crashed today. This occurred due to Trump's announcement of a 10% base tariff

The price crash of Dogecoin, Shiba Inu, and PEPE occurred due to Donald Trump’s announcement of tariffs, which led to a wave of selloffs.

This had a bearing on the world economy, experts have raised the possibility of the US seeing high inflation or a recession in the coming months. Such a development is bad for meme coins as investors are likely to reduce their exposure to these risk assets in the event that inflation or a recession kicks in.

There is already a bearish sentiment among investors, which led to a wave of selloffs following Trump’s announcement and ultimately the decline of these meme coins.

It is worth mentioning that the US Federal Reserve is currently adopting quantitative tightening (QT) policies to help bring inflation down to its desired 2%. The US central bank may be forced to implement more QT measures if there are concerns that Trump’s move could lead to higher inflation.

This possibility has probably weighed on investors’ minds, leading to the decline in Dogecoin, Shiba Inu, and PEPE prices. Meanwhile, the Fed has shown no intention to cut interest rates anytime soon, which is also bearish for Dogecoin, Shiba Inu, and PEPE.

DOGE At Make-Or-Break LevelIn an X post, crypto analyst Ali Martinez stated that Dogecoin is at a make-or-break level. He claimed that if $0.16 holds, then a rally to $0.57 could follow. However, if the foremost meme coin drops below this level, a drop to $0.06 becomes likely.

Crypto analyst Master Kenobi had also warned that Dogecoin needs to bounce off the support at $0.17. He further remarked that if that doesn’t happen, the last hope lies at the $0.14 support level. The analyst suggested that a drop below that support line would mark the end of DOGE’s bull run.

Interestingly, in another post, he stated that PEPE might already be in a bear market, comparing the meme coin’s current chart to ADA’s chart from 2021.