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Why Dogecoin Is Rising Today

TheMotleyFool

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Since yesterday afternoon, the price of Dogecoin (CRYPTO: DOGE) traded roughly 3% higher, as of 10:47 a.m. ET. While Dogecoin typically moves for no reason it all, the crypto sector is benefiting today as Bitcoin (CRYPTO: BTC), the world's largest cryptocurrency, continues to storm higher, surpassing $119,500, as of this writing.

Bitcoin has been marching higher over the past week, likely due to the U.S. government shutdown. Bitcoin and the rest of crypto are alternative currencies, so when the mainstream financial system struggles, Bitcoin and other cryptocurrencies can benefit. In addition, Bitcoin is viewed as a bellwether for the entire crypto sector.

Image source: Getty Images.

Source Fool.com

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