Here's Why Dogecoin Ripped 4% Higher Today
On an intraday basis from yesterday's equity market close to Tuesday at 5:30 p.m., the so-called "Godfather" of meme coins, Dogecoin (CRYPTO: DOGE), surged 4.1%. As I mentioned in another recent piece on the rival meme token Shiba Inu, these moves in what I would classify as somewhat similar assets at the more speculative end of the cryptocurrency sector are interesting, as they come ahead of a pivotal interest rate meeting by the Federal Reserve Open Market Committee tomorrow.
With so much uncertainty ahead in the near term, the willingness of investors to hit the bid is certainly telling. I'm of the view that these sorts of intraday moves ahead of a pivotal catalyst are perhaps more telling than the eventual volatility that may lie ahead, as they suggest investors are taking a more bullish outlook on speculative assets more broadly.
With that in mind, let's dive into some token-specific catalysts that could drive Dogecoin even higher over the course of the latter half of this week.
Source Fool.com
