The Decline of Bitcoin, Ethereum, Dogecoin, and Shiba Inu explained

Bitcoin, Ethereum, Dogecoin, and Shiba Inu are all trading lower due to Federal Reserve Chairman Powell’s statement that the Fed would increase the pace of rate hikes if necessary. Powell’s comments also caused the 2-year Treasury yield to hit its highest level since 2007. Cryptocurrencies have been seen as a speculative hedge against inflation, and the Fed’s plans to curb inflation could weigh on the crypto sector in the near future. As of Tuesday’s U.S. trading session, BTC is trading at $22,026, down 1.99%; ETH is trading at $1,545, down 1.94%; DOGE is trading at $0.073, down 2.96%; and SHIB is trading at $0.00001064, down 5.11%.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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