Dogecoin’s 6% rally led major cryptocurrencies, fueled by renewed risk appetite after U.S. officials extended tariff negotiation deadlines. The Treasury Department granted countries three additional weeks (until August 1) to reach trade agreements, easing fears of immediate economic disruption and boosting speculative assets.
Concurrently, growing anticipation of Federal Reserve rate cuts amplified the momentum. Traders are scrutinizing upcoming U.S. inflation data for confirmation of cooling price pressures, which could justify dovish monetary policy shifts favorable to high-volatility assets like memecoins.
The surge highlights Dogecoin’s continued sensitivity to macro sentiment shifts despite its meme origins. However, sustainability depends on whether tariff negotiations yield tangible resolutions and inflation aligns with market expectations in the coming days.
