Why Dogecoin is Rising Today

Dogecoin tends to move with the broader crypto sector.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 (DOGE +5.39%) traded over 5% higher, as of 11:57 a.m. ET today. Tame inflation report lifts the market 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. The CPI came in 2.4% higher year over year. From the prior month, the CPI rose 0.2% on a seasonally adjusted basis, while core CPI excluding food and energy prices rose 0.3% from the prior month. Economist estimates had called for a 2.5% year-over-year increase, and for the monthly and core monthly numbers to each rise by 0.3%. The report indicates that inflation may be cooling and finally heading back to the Federal Reserve's 2% preferred target. It could also indicate that an expected one-time surge in inflation from President Donald Trump's tariffs may now be in the rear view. Still, economists and strategists suspect the data might not be entirely accurate and could still be affected by the prolonged government shutdown last year, which led to two absent CPI reports. ExpandCRYPTO: DOGEDogecoinToday's Change(5.39%) $0.00Current Price$0.10Key Data PointsMarket Cap$16BDay's Range$0.09 - $0.1052wk Range$0.08 - $0.30Volume885M Dogecoin and the rest of the crypto sector are likely benefiting because the quicker inflation comes down, the more likely the Fed is to continue cutting interest rates, which tends to be a positive catalyst for crypto prices. Should you buy Dogecoin? Dogecoin continues to largely move in lockstep with the crypto sector, at least on a daily basis, which is common among most cryptocurrencies. I would still avoid buying the token because its blockchain network lacks real-world utility.Read NextFeb 9, 2026 •By Adam SpataccoPrediction: This Popular Cryptocurrency Will Plunge 50% (or More) by Year-End 2026Feb 8, 2026 •By Neil PatelHere's Why I Wouldn't Touch Dogecoin With a 10-Foot PoleFeb 6, 2026 •By Johnny RiceWhy Is Dogecoin Flying Higher on Friday?Feb 5, 2026 •By Bram BerkowitzWhy Dogecoin is Getting Slammed This WeekFeb 5, 2026 •By Anthony Di PizioMy 2026 Prediction for Dogecoin Might Surprise YouJan 30, 2026 •By Neil PatelDogecoin for the Next 10 Years: Buy, Hold, or Avoid?About the AuthorBram Berkowitz is a contributing Motley Fool stock market analyst covering financials, technology, consumer goods, and macroeconomic trends.

Before The Motley Fool, Bram worked in equity research covering bank stocks and as a reporter for local publications. He holds FINRA Series 7 and 66 licenses, as well as a bachelor’s degree in business with a minor in economics from Syracuse University.TMFBramX@BramBerkoStocks MentionedDogecoinCRYPTO: DOGE$0.10 (+5.39%) $+0.00*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.