Dogecoin Rises 7% as Market Reacts to Milder Tariff Expectations
Dogecoin (DOGE) Rises 7%
Dogecoin increased by 7% amid a relief rally in major cryptocurrencies, influenced by discussions of more measured upcoming U.S. tariffs set for April 2.
- President Trump's "reciprocal tariffs" may target specific countries, potentially easing market concerns.
- Previous tariff announcements led to significant drops in stocks and cryptocurrencies, with bitcoin falling 17.6% to below $80,000.
- The Federal Reserve raised inflation forecasts and reduced growth projections but labeled tariff-driven inflation as temporary.
- Meme coins, including DOGE, pepecoin, mog, and floki, have seen gains of over 5% in the past 24 hours, with the meme sector averaging a 5.6% increase.
- The broader CoinDesk 20 index rose by 2.7%, while bitcoin, Solana, and XRP each saw a 3% increase.
- Retail traders often pursue higher-risk assets like memecoins when there is bullish sentiment in major cryptocurrencies.
AI Tokens Show Stability
AI token values remain stable despite warnings of a potential bubble from Alibaba's Joe Tsai.
- AI tokens rose by 4.5% in the last 24 hours, according to CoinGecko data.
- Tsai expressed concerns about speculative data center construction and premature investment in AI ahead of demand.
- NEAR protocol is flat today but has increased by 14% over the past week, following positive developments regarding collaboration with Coinbase on AI technology.
- Story’s IP token is up 8% today, benefiting from securing intellectual property deals in entertainment sectors.