Dogecoin Leads with a 6% Spike as Bitcoin Edges Near $110K, Fueled by New Rate-Cut Optimism

Dogecoin Rallies as Bitcoin Approaches $110K on Hopes for Rate Cuts and Trade Truce

Dogecoin jumped over 6% in the past 24 hours, leading the charge in the crypto market as traders grew more optimistic about easing U.S. trade tensions and a potential Federal Reserve interest rate cut later this year.

The popular memecoin was last trading at around $0.1698, signaling a sharp return of retail interest. Meanwhile, Bitcoin (BTC) pushed past $109,000, climbing 1.1% on the day, after news broke about a delay in the proposed U.S. tariff timeline.

The rally came after U.S. officials clarified that President Trump’s proposed tariff hikes wouldn’t be implemented right away. Instead, the deadline has been pushed from July 9 to August 1, providing extra time for trade negotiations, confirmed Treasury Secretary Scott Bessent. This delay eased fears of an abrupt hit to global commerce.

“Markets are rallying after it was revealed countries will have more time to negotiate before tariffs take effect,” said Jeff Mei, COO at BTSE.

“If we see a soft CPI print on Tuesday, that could open the door for a Fed rate cut later this year,” Mei added via Telegram.

The more dovish tone has buoyed sentiment as traders prepare for a significant macro week. Investors are focused on the upcoming U.S. Consumer Price Index (CPI) release on Wednesday. A weaker-than-expected inflation reading could increase the chances of the Fed cutting rates as soon as September.

Expectations of lower interest rates have driven gains in riskier assets, including cryptocurrencies.

Ethereum (ETH) rose 2.5% to about $2,570, while other major altcoins also advanced:

  • Solana (SOL): $152.03 (+4%)
  • XRP: $2.2901 (+3%)
  • Cardano (ADA): $0.5826 (+2.5%)
  • Tron (TRX): $0.2870 (+2.2%)

“The BTC bounce and ETH inflows show traders are rotating into long-term value assets,” said Eugene Cheung, Chief Commercial Officer at OSL.

“We’re optimistic that more investors will look to Bitcoin and Ethereum to escape macro volatility and potential inflation increases as the Fed signals high potential to cut interest rates this year.”

Retail Buzz Surrounds Dogecoin

Dogecoin’s rally has stood out not only for its price gains but also for a spike in trading volume, which soared above $1.5 billion in the past 24 hours—a significant rise for a weekend session after a relatively quiet week.

Adding to the excitement was Elon Musk, an outspoken Dogecoin advocate, who revealed plans to launch an “America Party,” fueling speculation about future crypto-friendly initiatives tied to his political ambitions.

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