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Why Dogecoin is Rising Today

TheMotleyFool

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Why Dogecoin is Rising Today: https://g.foolcdn.com/editorial/images/856462/shiba-inu-dog-doge-dogecoin.jpeg

Cryptocurrencies bounced today after a softer-than-expected inflation report helped much of the market rise following a challenging week. The price of the meme token Dogecoin (CRYPTO: DOGE) traded over 5% higher, as of 11:57 a.m. ET today.

All eyes were on the January Consumer Price Index (CPI) report this morning, which tracks price movements across a basket of consumer goods and services and is viewed as a key gauge of inflation.

Image source: Getty Images.

Source Fool.com

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