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Dogecoin, Shiba Inu Jump 9% as Crypto Traders Take Riskier Bets

Popular meme tokens dogecoin (DOGE) and shiba inu (SHIB) jumped some 9% in the past 24 hours, which suggests crypto traders are taking riskier bets on the back of bitcoin’s (BTC) outperformance. Although there were no immediate catalysts for SHIB and DOGE tokens, the prices jumped on Thursday after social media platform X, formerly Twitter, revealed a video calling feature for premium users. This was likely a sign of irrational exuberance – as some traders have historically expected X to add DOGE as a payment option. Cumulative trading volumes for the tokens jumped to $1.2 billion today from $350 million on Monday, data shows. DOGE and SHIB added just 15% in the same period.

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