{"id":40631,"date":"2023-07-26T07:11:31","date_gmt":"2023-07-26T11:11:31","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-prices-waver-ahead-of-fed-decision-why-dogecoin-is-surging\/"},"modified":"2023-07-26T07:11:33","modified_gmt":"2023-07-26T11:11:33","slug":"bitcoin-prices-waver-ahead-of-fed-decision-why-dogecoin-is-surging","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=40631","title":{"rendered":"Bitcoin Prices Waver Ahead of Fed Decision. Why Dogecoin Is Surging."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000701429\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>\n        Bitcoin<br \/>\n       and other cryptocurrencies were shifting between gains and losses on Tuesday in the run-up to the Federal Reserve\u2019s interest-rate decision.<br \/>\n        Dogecoin<br \/>\n       was rising sharply as traders speculated whether the token could be incorporated into Elon Musk\u2019s plans for the expansion of his X social-media platform\u00a0<\/p>\n<p>\n        Bitcoin<br \/>\n       had traded broadly flat over the last 24 hours. At last check it was at $29,171, down 0.6%. The largest cryptocurrency continues to trade in a relatively narrow band ahead of the Fed decision on Wednesday.\u00a0<\/p>\n<div class=\"paywall\">\n<p>\u201cBitcoin has room to fall further to $25,000 and keep the uptrend from November intact. A drop to $27,500 wouldn\u2019t be a shock in the near term as investors digest the FOMC [Federal Open Market Committee] meeting,\u201d said Antoni Trenchev, managing partner of crypto lender Nexo.\u00a0<\/p>\n<p>Beyond Bitcoin,<br \/>\n        Ether<br \/>\n      \u2014the second-largest crypto\u2014 rose 0.7% to $1,857. Smaller tokens, or altcoins, also were gaining, with<br \/>\n        Cardano<br \/>\n       up 0.3%.\u00a0<\/p>\n<p>However, the standout riser was<br \/>\n        Dogecoin<span>,<\/span><br \/>\n       climbing 4.5%. The move looked to be based on hopes that Elon Musk might opt to use the cryptocurrency in his plans to expand the X social-media network\u2014the new name for Twitter\u2014as a financial platform.\u00a0<\/p>\n<p>\u201cDogecoin \u2026 saw an increase after Twitter\u2019s CEO, Elon Musk, renamed his account to X.com and posted the Dogecoin logo,\u201d\u00a0 said Rania Gule, an analyst at XS.com.\u00a0<\/p>\n<p>A so-called memecoin because it was created based largely on an internet joke, Dogecoin repeatedly has been promoted by Musk through tweets and on television. The price of the token surged earlier this year when Musk briefly made a Shiba Inu dog, the symbol of the Dogecoin cryptocurrency, the main logo for Twitter\u2019s homepage.<\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/bitcoin-dogecoin-price-crypto-markets-today-d322915d?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and other cryptocurrencies were shifting between gains and losses on Tuesday in the run-up to the Federal Reserve\u2019s interest-rate decision. Dogecoin was rising sharply as traders speculated whether the token could be incorporated into Elon Musk\u2019s plans for the expansion of his X social-media platform\u00a0 Bitcoin had traded broadly flat over the last 24 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-40631","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Prices Waver Ahead of Fed Decision. 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