DOGE is rising today -- is this crypto asset worth buying now? Key points • DOGE is rising today due to important macroeconomic data. • Weak employment data for August supports the Fed's rationale for a rate cut this month. • A drop in interest rates could boost the valuation of DOGE and other crypto assets. • We favor 10 stocks over DOGE › DOGE (CRYPTO: DOGE) rose on Friday. As of 5 PM Eastern Time, the price of this crypto asset's token has increased by 3.7% in the past 24 hours. During the same period, Bitcoin rose by 1.1%, and Ethereum rose by 0.7%. DOGE rose today due to the latest employment report from the U.S. Bureau of Labor Statistics. The employment report from the Bureau shows that the U.S. economy added 22,000 non-farm jobs in August. Meanwhile, the average economist's forecast was for 75,000 jobs to be added during that period. Although the weak employment report has raised alarms about the overall U.S. economy and caused a pullback in the stock market today, the weak employment data has prompted some leading crypto assets to rise. The employment data indicates that the Fed may cut rates this month, which could become an important bullish catalyst for DOGE and the overall crypto market. Image source: Getty Images. # Is it the right time to buy DOGE? DOGE currently has a market capitalization of about $33 billion, making it the eighth largest crypto asset by valuation. Despite being a meme coin lacking fundamentals, the token has shown remarkable resilience and seems to have solidified its status as one of the strongest crypto assets when measured by adoption. DOGE remains a high-risk, high-reward investment. If the broader crypto market were to fall due to macroeconomic dynamics or other catalysts, it is reasonable to expect that the token would experience a significant dumping along with the trend. On the other hand, if the crypto market sees another wave of strong bull run momentum, the price of DOGE could far exceed current levels. Should you invest $1,000 in DOGE now? Before you buy DOGE's stock, consider this: The Motley Fool Stock Advisor analyst team has just identified what they believe to be the 10 best stocks for investors to buy now... and DOGE is not among them. The selected 10 stocks could generate huge returns in the coming years. Considering the list published on December 17, 2004... if you had invested $1,000 when we recommended it, you would have $678,148!*