Dogecoin and Shiba Inu's latest Drop

Dogecoin and Shiba Inu have crashed again after a recent surge, impacted by market uncertainty and a challenging macro environment. The latest drop is linked to economic concerns and fears that the Federal Reserve might delay cutting interest rates.

The US job report from October 4 indicated a stronger-than-expected economy, raising doubts about whether the Federal Reserve will implement the anticipated rate cuts. While markets had hoped for a 50 basis point rate cut in November, the chances have now dropped to zero. This shift has reduced risk appetite for assets like Dogecoin and Shiba Inu, which tend to be more sensitive to market sentiment.

In addition to economic uncertainty, geopolitical tensions in the Middle East have fueled a wave of investor sell-offs. Rising conflict between Israel and Iran is intensifying fears of a broader regional escalation. As a result, investors are avoiding risky assets, leading to further declines in meme coin prices.

The upcoming US elections are also contributing to this bearish trend, with investors remaining cautious until the outcome is clearer. Despite pro-crypto candidates gaining traction, uncertainty surrounding policy changes has kept many on the sidelines, wary of making large investments.

Dogecoin and Shiba Inu continue to struggle under these external pressures and are likely to remain volatile in the short term. Until there’s more clarity on monetary policy and geopolitical stability, these meme coins are expected to face downward pressure, making the environment challenging for bullish investors.