Dogecoin (Doge), Shiba Inu (Shib) and XRP once again crushed, experiencing another access of a lower and negative February. This significant drop was motivated by a Major decrease in the price of bitcoin After Donald Trump’s pricing plans and the controversy with Deepseek.
Why Dogecoin, Shiba Inu and XRP crashed again
Three upper cryptocurrencies have has experienced significant volatilitySave a price crash that pushed them to respective stockings. According to CoinmarketCap data, the price of Dogecoin refused More than 6.6% last week, the retraced at $ 0.32.
Earlier this year, the play even had been Relatively wellRecord gains in figure due to the upholstery of the Haussier surrounding the concluded Trump’s presidential inauguration In the United States (United States). After its price rally, the cryptocurrency experienced a decline but was slightly restored after consolidation.
Likewise, the Inu Shiba and The XRP price crashedDecreasing 5.3% and 2.43% respectively. Cryptocurrencies recorded this significant decrease in the price during last week, resembling the momentum as market volatility increased.
The price accident in Dogecoin, Shiba Inu and XRP has been awarded to recent news President Trump pricing plans On China, Mexico and Canada. During a press conference on January 31, the press secretary of the White House Karoline Leavitt announcement That the Trump administration plans to impose 25% of prices in Mexico and Canada and a 10% price on China.
While the news of the President’s pricing plans spread, the Bitcoin price had fall Significantly, triggering a downward momentum through many cryptocurrencies. Among the altcoins affected by this Bitcoin decline were Dogecoin, XRP and Shiba Inu.
The impact of the pricing announcement on the price of bitcoin stems from its influence on the moment of rate reductions, which historically have Affected BTC price trajectory. In addition, Bitcoin has also experienced a huge Price price after DeepseekA Chinese AI company has surpassed Openai Chatpt. This unexpected development has led to substantial market sales, causing Bitcoin.
While the pioneer cryptocurrency has since recovered some earnings And is currently negotiated at $ 101,857, other altcoins are still in red, undergoing a significant drop in volatility and prices.
Some positive points for Dogecoin, XRP and Shiba Inu
Despite the drop in recent prices, there have been positive points for Dogecoin, XRP and Shiba Inu. The price of Dogecoin continues to maintain Bullish feeling among market analystsWith “Dogegod”, an analyst on X (formerly Twitter), forecast A potential increase in new summits of $ 8 of all time.
On the other hand, Shiba Inu has experienced a significant increase in token burns. Following more than Increase in the burning rate by 7,000% In the last 72 hours, the Shiba Inu team initiated Another large -scale burn, offering to permanently withdraw 1 billion sinking from traffic.
Finally, on January 31, XRP received remarkable to rent out of the Director General (CEO) of Ripple, Brad Garlinghouse. Garlinghouse stressed that the fourth quarter of 2024 was an impressive period for XRP, with significant milestones affected, such as the combination of market capitalization of more than $ 100 million, the launch of the RUSD StablecoinThe issue of several ETP deposits linked to XRP in the United States and others.
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