Why Is Dogecoin Up 13.4% This Week?
Dogecoin (CRYPTO: DOGE) is moving higher this week, up 13.4% as of 6:03 p.m. ET on Thursday, as measured from last Friday at 4 p.m. The move comes as the S 500 and the Nasdaq-100 gained 1.1% and 1.6%, respectively.
As Bitcoin goes, so too does most of the crypto market -- Dogecoin included. While this doesn't always hold, it's usually a fair bet that if it's a big week for the original crypto, it'll be a positive week for the meme coin as well.
That's what is happening here. Bitcoin is up nearly 10% this week as investors react to the U.S. government shutdown. The coin is often touted as "digital gold," making it attractive in times of uncertainty.
Source Fool.com
