Why Dogecoin Is Sinking Today
Since yesterday afternoon, the price of Dogecoin (CRYPTO: DOGE) had fallen roughly 5.5%, as of 12:24 p.m. ET today. While moves in Dogecoin aren't always predicated on a specific event, the move today appears to be related to macro events impacting most cryptocurrencies.
Because cryptocurrencies were created as an alternative currency, they tend to have an inverse relationship with the U.S. dollar, which has come down significantly this year. However, more recently, the dollar has begun to rebound as investors begin to question how many times the Federal Reserve will cut interest rates this year and next.
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Source Fool.com
