Stocks traded higher on Thursday, as risk-on sentiment engulfed investors following a U.S. court ruling that blocked President Donald Trumpâs tariffs.
The Nasdaq Composite opened 1.3% higher, and the S&P 500 rose 0.7% as investors appeared to cheer the latest news on tariffs. The blue-chip Dow Jones Industrial Average also gained slightly, opening 50 points higher.
Stocks moved up in after-hours trading on Wednesday, buoyed by Nvidiaâs earnings report. Investors also seized on another dose of optimismâthe U.S. Court of International Tradeâs three-judge panel decision that blocked some of Trumpâs tariffs on various countries.
This latest stock market swing continued a trend that has largely stemmed from investor jitters since President Trumpâs âLiberation Dayâ tariff announcements.
Over the past several months, stocks have regularly moved higher amid news of negotiations, trade deals, or pauses, and lower amid fresh threats, such as when Trump recommended a 50% tariff on the European Union.
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While the U.S. Court of International Trade ruled that Trump overstepped his authority as given in the International Emergency Economic Powers Act, White House has appealed the decision. More notably, experts from Goldman Sachs have cautioned that while the legal tussle shapes up, President Trumpâs administration may have other tools to impose the targeted tariffs.
Recently, Dow rose sharply as Trump announced a delay to the implementation until July 9 if the U.S and EU fail to reach a deal. As well as stocks, oil prices jumped and the Treasury yields stayed flat. In crypto, Bitcoin (BTC) was largely unchanged near $108k.
SkyBridge Capitalâs Anthony Scaramucci commented on the tariff block via X, suggesting these developments are perfect for BTC to explode.
Thank you DOGE for erasing the illusion government can cut $2 trillion. Now the tariff revenue blocked and wonât help offset increased big beautiful spending.Can bitcoin just go to $500k already.â Anthony Scaramucci (@Scaramucci) May 29, 2025
Wall Street was also slightly upbeat after fresh U.S. economic data showed gross domestic product shrank 0.2% quarter over quarter in Q1 2025, compared to the expected 0.3%. Meanwhile, jobless claims rose by 14,000 to 240,000 for the week ending May 24, 2025, above expectations of 229,000 and up from the previous weekâs 226,000.
Earlier, minutes from the Federal Reserveâs May monetary policy meeting highlighted continued uncertainty about the economic outlook, with officials noting a weakened outlook for growth.
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The Dogecoin price has consolidated in the past few weeks, even as on-chain data points to whale accumulation.Â
At last check Sunday, Dogecoin (DOGE) was trading at $0.1743, a range it has remained stuck at in the past few days. This price is about 36% above the lowest level this year.Â
On-chain data compiled by Santiment shows that large investors have continued to accumulate the coin. DOGE holders with between 1 million and 10 million coins have increased their holdings from 10.3 billion in March to 10.5 billion today, a 200 million increase.Â
Similarly, larger holders with between 100 million and 1 billion coins have increased their positions from 23.4 billion in March to 25.52 billion. Whale accumulation, especially in a bear market, is seen as a positive catalyst for an asset.Â
These whales have bought the coin, potentially anticipating a spot DOGE ETF approval by the Securities and Exchange Commission. The odds of that approval are high because Dogecoin is a proof-of-work cryptocurrency, and the agency is not concerned that it is a security.
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DOGE whale accumulation | Source: Santiment
Dogecoin price has stalled for two main reasons. First, there are signs of a rotation from traditional memecoins to newer ones on the Solana ecosystem. Its sluggish performance happened as top Solana meme coins like Fartcoin (FARTCOIN) and Popcat (POPCAT) surged.Â
Second, Elon Musk has hinted that he will scale back his work for the Department of Government Efficiency as the Tesla stock has crashed. Exiting the DOGE project will not have a direct impact on Dogecoin. However, it may hurt sentiment among investors.Â
Dogecoin price technical analysis
DOGE price chart | Source: crypto.news
The daily chart reveals that the DOGE price has moved sideways in the past few weeks. It has formed a symmetrical triangle pattern whose two lines are about to converge.
This triangle is happening after the coin crashed from $0.4815 in December. As such, there is a risk that it has formed a bearish pennant pattern.Â
Therefore, the Dogecoin price may soon have a bearish breakdown, potentially to support at $0.10, which is down 43% from the current level. This bearish outlook will be invalidated if it moves above the 50% retracement level at $0.2796.
Dogecoin was created in December 2013 by Billy Markus and Jackson Palmer. The two software engineers were reportedly inspired by the popular âDogeâ meme featuring a Shiba Inu dog. The coin, formed using Litecoinâs codebase, has seen surges in popularity thanks in part to endorsements from Tesla CEO Elon Musk.
Read more:Top 3 reasons Bitcoin price will soar to a new all-time high
前华尔街高管理查德·金 (Richard Kim) 因涉嫌从区块链在线赌场初创公司 ZeroEdge 的投资者手中挪用超过 400 万美元而被捕,并被指控犯有电信欺诈和证券欺诈罪。
根据联邦调查局特工托马斯·麦奎尔在纽约南区提交的一份宣誓书,金曾担任高盛和摩根大通全球外汇和新兴市场交易的首席运营官,于 2024 年 3 月创立了 Zero Edge。
他将该公司推销为一家加密货币赌场,提供链上游戏、名为“FAITH”的虚拟货币以及名为“$RNG”的可交易代币。
从 2024 年 3 月到 6 月,Kim 通过种子融资和代币销售筹集了大约 430 万美元,向投资者介绍了包括智能合约、赌场游戏机制以及遵守游戏和证券法规在内的发展路线图。
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资金挪用
然而,检察官指控金歪曲了投资者资金的使用情况,并将资金挪用于未经授权的用途,包括投机性加密货币交易。
The FBIâs investigation revealed that Kim had promised in formal agreements and token sale documents that the funds would go exclusively toward building the platform.Â
至少有一位投资者告诉当局,如果他们知道这些资金实际上是金的个人贷款,他们就不会投资。
Kim 还引用了 Greenberg Traurig 等公司的法律评论,以向投资者保证监管合规性。
但根据投诉,一些关键协议从未得到完全执行,或者被修改以取消有关财务透明度和内部控制的义务。
根据联邦证券法第18条规定,金面临电信欺诈和证券欺诈指控。该案件仍在调查中。
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