Why Is Dogecoin Up 13.4% This Week?

Key Points

• Bitcoin is trading higher amidst the ongoing shutdown.

• Dogecoin will often move up when Bitcoin is rising significantly along with most of the crypto market.

• 10 stocks we like better than Dogecoin ›

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&P 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.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »

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.

Image source: Getty Images.

Dogecoin is a risky asset

Despite the fact that Dogecoin often gets a bump when Bitcoin trades higher, over time, its value is anything but tied together. Dogecoin is highly speculative, and its value is essentially driven by hype. It wasn't created to be a serious investment, and it shouldn't be considered one now. With a meme coin like Dogecoin, the bottom can fall out at any moment, and its price could plummet.

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 $631,456!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,147,755!*

Now, it’s worth noting Stock Advisor’s total average return is 1,063% — a market-crushing outperformance compared to 191% 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 September 29, 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.