$DOGE $SHIB $PEPE

Memecoin Green Amid Optimistic Market as US Cuts Interest Rates

Memecoins are green today, Tuesday (09/09) as the market is optimistic that The Fed, the central bank of the United States, will cut interest rates at the upcoming Federal Open Market Committee (FOMC) meeting on Thursday.

One of the catalysts is because US Treasury Secretary Scott Bessent called for a 50 basis point cut from The Fed this month after inflation rates were reported to be stagnant in July.

"What needs to be considered now is whether we will get a 50 basis point rate cut in September," he said.

Starting with Dogecoin (DOGE), the memecoin that is the 9th largest crypto, rose 2.30% in the last 24 hours, bringing it to US$0.23. Followed by Shiba Inu (SHIB), which rose 1.81% to US$0.00001278.

Pepe (PEPE) surged 3% to US$0.00001030, Bonk (BONK) increased 6.66% to US$0.00002316. Meanwhile, Official Trump (TRUMP) rose 1.83% to US$8.67, and Floki (FLOKI) climbed 5% to US$0.00009782.

On the other hand, Phoenix (PHNIX) fell more than 4% despite having surged 50% the day before after Ripple's Chief Technology Officer David ‘JoelKatz’ Schwartz changed his personal X social media profile picture to that of a pirate along with the PHNIX token logo.