Dogecoin and Shiba Inu Rocket 10%—Memecoins Defy Gravity Again
Another day, another meme-fueled crypto rally. Dogecoin (DOGE) and Shiba Inu (SHIB) blasted past resistance levels today, posting double-digit gains while ’serious’ investors scrambled to justify the move.
Whale Games or Retail Frenzy?
On-chain data shows a surge in large DOGE transactions—classic whale behavior. Meanwhile, SHIB’s burn rate spiked 300%, a desperate attempt to manufacture scarcity for a token with more supply than common sense.
The Elon Factor Strikes Again
No direct Musk tweets this time, but Tesla’s cryptic ’payment system upgrades’ tweet sent DOGE maximalists into orbit. Never underestimate the power of a billionaire’s vagueposting.
Cynical Take:
Wall Street’s algo-traders clearly got bored of moving real assets and decided to play pinball with meme coins instead. Enjoy the ride—just remember someone always ends up holding the bag.
Donald Trump To Go Easy On China
The crypto market crashes that began in January 2025 were spurred by US President Donald Trump’s tariff wars with other countries, mainly China, that seemingly came out of nowhere. As the president had placed tariffs on China, the country had retaliated with its own tariffs on the US, triggering an all-out tariff war. Additionally, over 180 countries were hit with Trump’s tariffs, sending the market into disarray.
In early April, though, Trump announced that he would be suspending tariffs on all the other countries for 90 days, excluding China. This is to give time for negotiations as other countries come to the table. However, it seems the president is also looking favorably on China with the latest announcement.
Earlier this week, Donald Trump said in an interview in the Oval Office that the tariffs on China are not expected to be high. To put this in context, the US currently has 145% tariffs on China, and both countries are expected to be in negotiations. According to the US president, “it won’t be anywhere NEAR that high. It will come down substantially, but it won’t be zero.”
Once this news got out, the market responded very positively. For one, 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 And 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.
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 $0.00001288 to $0.0000189.
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.
