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Prices for Dogecoin and Shiba Inu have seen a huge price surge in the past few days. In just one day, both meme coins have skyrocketed by over 10%, and have now set on the path to recover lost profits from the past few months. As these increases excite investors, let’s look behind the curtains and see what is driving this price recovery.
Donald Trump goes easily in China
The crypto market crash that began in January 2025 was spurred by US President Donald Trump’s tariff war with other countries, mainly China. As the president placed tariffs on China, the country retaliated with its own tariffs on the United States, causing a full tariff war. Additionally, more than 180 countries have been hit by Trump tariffs, disrupting the market.
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But in early April, Trump announced that he would suspend tariffs in all other countries for 90 days except China. This is to give other countries time to negotiate when they come to the table. However, the president appears to be looking at China in his latest announcement.
Earlier this week, Donald Trump said in an interview with his elliptical office that China’s tariffs were not expected to be high. To put this in context, the US currently has a 145% tariff on China, and it is expected that both countries are in negotiations. According to the US President, “It’s not near that high. It’s going to drop significantly, but not zero.”
When this news was announced, the market responded very positively. For one thing, Bitcoin priced from $84,000 to $94,000, adding more than $100 billion to its market capitalization in just a few hours. This naturally scraped things like Dogecoin and Shiba Inu, causing prices to skyrocket over the same time frame.
Dogecoin and Shiba Inu prices respond
In the aftermath of Trump’s announcement, Dogecoin and Shiba Inu found a significant increase in interest from crypto investors. In DogeCoin’s daily work volume bounced over 100% on Wednesday, exceeding $2 billion. Its price rose below $0.17 in a few hours, up above $0.18, according to CoinMarketCap data.
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Similarly, Shiba Inu’s trading volume rose 88% to over $315 million on Wednesday. Like Dogecoin, Shiba Inu’s price rose by more than 10%, moving from $0.00001288 to $0.0000189 from its daily low.
With two months remaining in Trump’s 90-day freeze window, cryptocurrency prices are expected to continue to rise all the way. Naturally, Dogecoin and Shiba Inu are expected to lead Meme Coin Rally as the largest cryptocurrency of this category.
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