Key Points
There is no token-specific reason behind the move.
But the sector seems to be benefitting from “Crypto Week,” in which the U.S. House of Representatives will vote on three key pieces of crypto legislation.
The bills got off to a bad start yesterday, but appear to be back on track.
10 stocks we like better than Dogecoin ›
Since yesterday afternoon, the price of Dogecoin (CRYPTO: DOGE) has traded nearly 4% higher, as of 11:04 a.m. ET today. There is no obvious reason for the move, although it can likely be attributed to broader tailwinds for the crypto sector.
Crypto legislation is back on track
As a meme token with very little real-world utility, there are rarely specific catalysts that move Dogecoin. However, the token is volatile and tends to join in broader crypto moves.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »
Image source: Getty Images.
This week, the U.S. House of Representatives began “Crypto Week” to vote on three key pieces of legislation in the House. The GENIUS Act would establish a set of standards for stablecoins, the CLARITY Act would create a broader framework for digital assets, and the Anti-CBDC Surveillance State Act would prevent the Federal Reserve from issuing its own central bank digital currency.
Yesterday, the House failed to approve the GENIUS and CLARITY Acts, two bills that crypto advocates see as crucial for clearing up regulatory uncertainty in the industry and promoting growth. But last night, President Donald Trump on social media said he had met with some House members that had blocked passage of the bills and convinced them to change their minds.
Oppenheimer analyst Owen Lau recently said on CNBC that the downward reaction to crypto stocks yesterday was an overreaction and he sees passage of the GENIUS and CLARITY Acts as a matter of time.
The bills are important
Ultimately, these pieces of legislation are important to keep the momentum going, and I think crypto has been surging as of late on the assumption they will pass. Most importantly, the legislation would provide regulatory clarity and a set of guidelines for crypto companies to follow, which has been an ongoing problem for the sector.
That said, I still don’t view Dogecoin as a buy. The token provides no compelling use case and is extremely volatile. Invest at your own risk.
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 $679,653!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $1,046,308!*
Now, it’s worth noting Stock Advisor’s total average return is 1,060% — a market-crushing outperformance compared to 179% 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 July 15, 2025
Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
