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Cryptocurrency News Articles
Memecoins—Dogecoin, Shiba Inu, and PEPE—Are in Focus as Investors Seek Riskier Assets That Could Yield Higher Returns
Oct 10, 2024 at 02:25 am
The cryptocurrency market in Q4 2024 is witnessing renewed excitement, spurred by macroeconomic factors like the potential Federal Reserve rate cut
The cryptocurrency market in Q4 2024 is seeing renewed excitement, thanks to macroeconomic factors like a potential rate cut by the Federal Reserve and the buzz surrounding the U.S. elections. Memecoins—Dogecoin, Shiba Inu, and PEPE—are in focus, as investors are looking for riskier assets that could yield higher returns.
Despite recent price volatility, these tokens continue to attract attention due to their strong communities and potential catalysts for future growth. Each has distinct bullish and bearish cues that could determine its trajectory in the coming months.
Dogecoin (DOGE)
Dogecoin, the original memecoin, remains a favorite among retail traders, largely due to its association with influential figures like Elon Musk. One of the most prominent bullish cues for Dogecoin in Q4 2024 is the potential integration of DOGE into Musk’s X (formerly Twitter) as a payment system.
If this happens, it could lead to real-world adoption and significantly boost the demand for DOGE. Additionally, a favorable macroeconomic environment, especially a Federal Reserve rate cut, could increase liquidity and speculation in DOGE, making it a hot asset for short-term gains.
Moreover, the US elections could also become a bullish cue for the memecoin sector, since this area of the crypto verse lives and breathes hype. And what better hype than two supposedly pro-crypto contenders fighting for the top seat of power in one of the world’s largest economies?
Furthermore, a Donald Trump winning the election would likely be a stronger cue for the DOGE token, since Elon Musk has been a vocal supporter of the former president’s candidature. A Trump win could certainly send DOGE prices soaring.
Shiba Inu (SHIB)
The Shiba Inu ecosystem has evolved beyond its humble memecoin origins. The Shibarium Layer-2 solution offering real-world use cases by enhancing transaction speeds and reducing costs. In Q4 2024, Shibarium’s successful adoption could be a significant catalyst for sustained price growth.
Additionally, the upcoming Shiba Inu metaverse project is expected to drive user engagement and increase SHIB’s utility, making it an attractive option for investors seeking more than just speculative gains.
Shiba Inu’s token burn mechanism adds to the bullish cues in the memecoin’s favor, reducing its circulating supply and leading to a potential price appreciation. The possibility of a Federal Reserve rate cut could also boost SHIB’s price as traders seek higher-risk assets.
Moreover, like Dogecoin, the US elections could impact the fate of SHIB’s price action. The rising tide of Dogecoin would likely help SHIB prices rally, though it is possible the impact may not be as pronounced as that on DOGE.
PEPE
Q4 2024 is likely to see PEPE continuing its recent price downturn. Despite efforts by its community to rally support and increase social media buzz, the token lacks clear bullish cues.
However, its low price and potential for short-term rallies could attract traders looking to quickly multiply their capital. A favorable macroeconomic environment, especially a rate cut by the Federal Reserve, could increase liquidity in riskier assets like PEPE. As the market moves away from safer assets, traders might rotate their profits into lower-priced tokens.
Investors should be aware that this analysis is based on technical factors and recent price trends. The cryptocurrency market is highly volatile and can be influenced by a wide range of unforeseen events. It is crucial to conduct thorough research and exercise caution before making any investment decisions.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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