Many altcoins rose today along with the broader crypto market, as the price of Bitcoin rose over $17,200 and investors seemingly got more bullish on macroeconomic conditions.

Since Sunday afternoon, the price of the meme tokens Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) traded 5.5% and 8.5% higher, respectively, as of 10:50 a.m. ET. Meanwhile, the price of ApeCoin (CRYPTO: APE) was up about 15%.

The main reason for crypto bullishness seems to be linked to investors growing more confident that inflation is slowing, which would hopefully lead to the Federal Reserve ending its interest rate hiking campaign sooner rather than later.

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Source Fool.com