Why Dogecoin Is Surging Today
Since Friday afternoon, the price of meme token Dogecoin (CRYPTO: DOGE) has traded 9.4% higher, as of 11:11 a.m. ET Monday. The crypto market started to recover from a rocky last week, driven by growing trade tensions between the U.S. and China and concerns over the macro environment.
While cryptocurrencies are viewed as alternatives to the mainstream financial system, they have now gotten more common and can be impacted by moves in the broader market, especially if they have to do with the macro environment. More tension between the U.S. and China, as well as concerns about bad bank loans last week, hit the sector hard.
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Source Fool.com
