Dogecoin and Shiba Inu Prices Surge

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

The article discusses the upcoming meeting between U.S. President Donald Trump and his Chinese counterpart. It also mentions the possibility of tariffs being placed on goods from China.

According to the article, Trump said in an interview in the Oval Office that he does not anticipate the tariffs on China to be “'high.' ”

The president went on to say that the 145 percent tariffs on goods from China will "come down substantially, but it won’t be zero."

This news has been met with positivity by the crypto market, which saw huge gains on Wednesday as a result.

Bitcoin Price Surges After Trump Aнонсировал Новые Tariffs

The latest round of crypto market crashes began in January with Donald Trump’s sudden announcement of tariffs on other countries.

The president’s tariffs on China are set to be discussed soon, with both countries sending officials to the meeting to discuss the matter. However, Trump’s tariffs on other countries—a total of over 180 countries—will be frozen for 90 days to allow time for negotiations.

Earlier this week, though, Trump said that he is planning to go easy on China.

“It will be interesting to see if they can make a deal. It’s possible they can make a deal. We’ll see what happens. Maybe they’ll want to continue the tariffs. Maybe they’ll put them at a very low level. I have no preference. Zero tariffs would be great. It’s not likely to happen,” the president said.

Once this news got out, the crypto market responded very positively. For instance, 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, Shiba Inu Prices React

In 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.

For context, Dogecoin’s all-time high price of $0.77 was reached in August 2022, and its price dropped to lows of $0.14 last week.

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 $0.1288 to $0.18.

Shiba Inu’s all-time high price was reached in 2023 at $0.0008, and its price dropped to lows of $0.12 last week.

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.