
Dogecoin (CRYPTO: DOGE) was trading about 3% higher during Thursday’s 24-hour trading session in tandem with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were trading about 3.6% and 3.8%, respectively.
The cryptocurrency sector, like the general market, is receiving bullish momentum after reacting positively to consumer price index data released on Wednesday, showing inflation may have peaked. The news has traders and investors hopeful the Federal Reserve may ease off hiking interest rates by an addition 0.75% in September, after raising rates by that amount in both June and July.