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Why Dogecoin Is Jumping Today

TheMotleyFool

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Dogecoin (CRYPTO: DOGE) is up 9.7% in the last 24 hours as of 3:27 p.m. ET on Monday, outpacing Bitcoin's 8.2% gain. Stocks are also rising, with the S 500 up 0.3% and the Nasdaq Composite up 0.7%.

Dogecoin recovered much of yesterday's loss as the cryptocurrency market reacted to a number of bullish developments.

Speaking to the House Financial Services Committee yesterday, Federal Reserve Vice Chair Michelle Bowman said she would work to create rules for stablecoins in the banking system. While she emphasized it was her duty to ensure the "safety and soundness" of the financial system, she said that she would "encourage innovation in a responsible manner."

Source Fool.com

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