- Doge continues yesterday’s 6% bullish price rally.
- SHIB’s price has risen nearly 5% over the last 24 hours.
- A positive shift towards Fed monetary policy has boosted the crypto market today.
On Tuesday, the meme coin Dogecoin (DOGE) rallied by just over 6%, reversing a 1.53% fall from Monday. As a result, DOGE ended the trading session at $0.06206. Something to note is that the meme coin’s price visited $0.064 for the first time since October 6 this year.
Looking at today’s session so far, DOGE’s price has been able to set a daily high at $0.06665 before retracing to its current price of $0.06617 according to CoinMarketCap. Trading volume for the meme coin has also soared 181% over the last 24 hours – taking the total daily trading volume to $661,274,430.
Meanwhile, Shiba Inu (SHIB) rose by 2.82% on Tuesday and was able to reverse its 2.36% loss from Monday. Notably, SHIB’s price reached $0.00001040 levels for the first time since October 18 of this year.
SHIB was able to post a daily high of $0.00001058 in today’s session, but since then, it has retraced back to $0.00001047. Nevertheless, SHIB’s price is still up 4.83% today.
The two meme coins are left at the mercy of the broader crypto market as there were no network updates to influence their prices. The recent spikes in their respective prices could be a sign of a positive shift in sentiment toward Fed monetary policy, which delivered a bullish trade session for the crypto market.
In addition, DOGE’s price was boosted due to reports of Twitter developing a crypto wallet. Investors are also expecting Elon Musk to drive crypto adoption should his acquisition of Twitter go ahead.
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