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Why Bitcoin, Shiba Inu, and Dogecoin Are Rising Today

TheMotleyFool

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Why Bitcoin, Shiba Inu, and Dogecoin Are Rising Today: https://g.foolcdn.com/editorial/images/720879/generic-upward-14.jpg

Many cryptocurrencies were rising for a second straight day Tuesday following a mixed inflation report Monday and a Senate Banking Committee hearing on the future of crypto regulation.

Since late afternoon Monday, shares of the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC), were trading 2.5% higher as of 10 a.m. ET Tuesday. Meanwhile, meme tokens Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) were up 4.9% and 3.9%, respectively.

Investors continue to digest January's Consumer Price Index (CPI) report, which the Bureau of Labor Statistics released Monday. The CPI tracks the prices of a market basket of consumer goods and services, and is a key gauge of inflation.

Source Fool.com

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