Why Dogecoin Is Jumping Today
Key Points
Dogecoin followed Bitcoin's lead today after a rough week.
Despite announcing an interest-rate cut, Jerome Powell made comments earlier this week dragged on crypto prices.
- 10 stocks we like better than Dogecoin ›
Dogecoin (CRYPTO: DOGE) is moving higher on Friday. The coin is up 4% since 4 p.m. ET Thursday as of 1:08 p.m. ET. The move comes as the S&P 500 is flat and the Nasdaq Composite has gained 0.3%.
As Bitcoin goes, so goes most of the crypto market -- Dogecoin included. While this doesn't always hold, it's a good bet that when Bitcoin moves up, the meme coin will as well.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
The Fed cuts rates, but future cuts are uncertain
Bitcoin is up today after a rough week. Crypto investors are wary of broader macro trends and mixed signals from the Federal Reserve. Another 0.25% cut was announced on Wednesday, but additional rate cuts in December look less likely following Fed Chair Jerome Powell's statement that they were "not a foregone conclusion. Far from it."
Image source: Getty Images.
Dogecoin carries substantial risk
Though Dogecoin tends to rise when Bitcoin rallies, at least in the short term, don't mistake that for a genuine correlation over time. Dogecoin remains highly speculative, with its value driven entirely by social momentum rather than fundamentals. It was designed as a joke, not a legitimate investment. That hasn't changed. As with all meme coins, its price can collapse at any moment.
In the long run, Bitcoin is a much better choice.
Should you invest $1,000 in Dogecoin right now?
Before you buy stock in Dogecoin, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $587,288!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,243,688!*
Now, it’s worth noting Stock Advisor’s total average return is 1,055% — a market-crushing outperformance compared to 194% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of October 27, 2025
Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
Recommended Articles
