• Is the Santos share price ‘starting to resume its uptrend’?

    A male oil and gas mechanic wearing a white hardhat walks along a steel platform above a series of gas pipes in a gas plantA male oil and gas mechanic wearing a white hardhat walks along a steel platform above a series of gas pipes in a gas plant

    The Santos Ltd (ASX: STO) share price lifted today, but could it be on a trend to go higher in the future?

    Santos shares rose 1.56% today to close at $7.83. For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) jumped 1.99% today.

    Let’s take a look at the outlook for Santos.

    Is Santos a buy?

    The Santos share price has soared 24% in the year to date. Santos shares hit a high of $8.76 in June before pulling back to the current share price.

    Fairmont Equities managing director Michael Gable recommends the Santos share price as a “buy”.

    In comments published on The Bull, Gable said he believes Santos will continue to benefit from higher energy prices “for some time”.

    He added:

    The share price is down from its June peak in response to a short-term retreat in the crude oil price.

    However, this presents a buying opportunity, as the share price has recently firmed and is starting to resume its uptrend.

    Santos is a major oil and gas producer. The company reported a 230% boost in statutory net profit after tax in FY22 to $1.167 billion.

    Santos CEO Kevin Gallagher said: “Demand for our products has remained strong in both Australia and internationally, due to increased demand and shortages of supply from producing nations due to global underinvestment in new supply”.

    Santos share price snapshot

    Santos shares have soared 28% in the past year. In the last month, Santos shares have risen 4%, while they have lifted 1.56% in the past week.

    Santos has a market capitalisation of more than $26 billion based on the current share price.

    The post Is the Santos share price ‘starting to resume its uptrend’? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Santos Limited right now?

    Before you consider Santos Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Santos Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of September 1 2022

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    Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Is this the new frontier for ASX lithium shares?

    giant battery represented by battery next to world globegiant battery represented by battery next to world globe

    It’s expected recycling of components used in batteries and electric vehicles will help keep EV production sustainable, according to the plans of overseas manufacturers.

    Recycling is expected to ramp up once the production of new battery technologies reaches a critical mass, allowing enough components to be reused.

    This could mean ASX lithium shares like Pilbara Minerals Ltd (ASX: PLS) and Argosy Minerals Limited (ASX: AGY) — and others with significant production volumes — may enjoy additional tailwinds as recycled materials keep production lines churning.

    Some lithium shares, such as the world’s largest lithium producer Albermarle Corporation (NYSE: ALB), based in the US, are already planning to recycle components on Australian soil.

    Recycling boom for lithium shares

    Albemarle is planning a purpose-built 25,000-tonne production train exclusively for recycling materials from used batteries at its Kemerton lithium plant in Western Australia, as reported by the Australian Financial Review.

    Recycling will also allow lithium shares like Albemarle to keep up with soaring demand. Albemarle CEO Kent Masters said the company cannot deliver products fast enough to keep up with its order book:

    Every conversation I have with either battery or OEM [original equipment manufacturer] customers, they’re always asking, ‘when can I have more, and where can I get it? And they’re pounding the table around that, and we’re trying to respond to that.

    Glencore PLC, a multinational commodities behemoth, has also invested heavily in the future recycling of lithium-ion batteries. The company has invested $US 200 million in Li-Cycle Holdings, a lithium-ion recycler. It’s made a joint venture agreement with Britishvolt to build a battery recycling plant in England, BusinessDay reported.

    Recycling might not only fit with the green ethos of reducing emissions but could also become a necessity. Albermarle believes we’re just starting to see the wave of demand for lithium and EVs slowly build before the crest hits the market later this decade, as reported by The Australian.

    Zero-carbon lithium creates further scarcity

    Albermarle believes that lithium carbonate prices are expected to remain high with companies competing for limited supply. Adding to the scarcity is that governments may be likely to favour, or even impose, zero-carbon lithium extraction processes in a bid to reach emissions targets.

    This, in turn, may increase the valuations of some ASX lithium shares such as Vulcan Energy Resources Ltd (ASX: VUL). The company is aiming to use environmentally-friendly geothermal extraction methods to produce lithium. It could see Vulcan’s product trading at a ‘green premium’ in the future.

    The post Is this the new frontier for ASX lithium shares? appeared first on The Motley Fool Australia.

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    Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • 2 top ASX growth shares that experts say are buys

    a happy investor with a wide smile points to a graph that shows an upward trending share price

    a happy investor with a wide smile points to a graph that shows an upward trending share price

    Looking for a growth share or two to buy? If you are, you may want to look at the two listed below.

    Here’s why these ASX growth shares are rated highly right now:

    Altium Limited (ASX: ALU)

    The first ASX growth share to look at is Altium. It is the company behind the Altium Designer printed circuit board design (PCB) software.

    Altium’s software is regarded as the best in the industry and is used by companies and organisations such as BAE Systems, Dell, Microsoft, NASA, and Tesla for the design of the PCBs found in electronic devices.

    The company also has complementary businesses including Nexus and Octopart. The latter is a search engine for electronic and industrial parts, which has been a very strong performer over the last 12 months thanks to supply chain disruption.

    Looking ahead, management remains very positive on its outlook and continues to target US$500 million in revenue by 2026. This will be more than double FY 2022’s revenue of US$220.8 million.

    The team at Jefferies also appears confident on the company’s outlook. Its analysts currently have a buy rating and $38.13 price target on its shares. 

    Readytech Holdings Ltd (ASX: RDY)

    Another ASX growth share that has been tipped as a buy is software company Readytech.

    It is a leading provider of mission-critical software-as-a-service (SaaS) solutions for the education, employment services, workforce management, government and justice sectors.

    It highlights that its software brings together the best in people management systems to help customers navigate complexity, while also delivering meaningful outcomes.

    Like Altium, the company has set itself some bold growth targets. Readytech is aiming for FY 2026 revenue of $140 million to $160 million. The top end will be double FY 2022’s revenue of $78.3 million.

    Goldman Sachs appears confident the company will get there. In fact, it is forecasting revenue of $143 million in FY 2025, a year ahead of target. No forecast has been made for beyond that year, but the broker’s estimates appear to imply that it expects Readytech to hit the top end of its guidance range.

    Goldman Sachs has a buy rating and $4.30 price target on its shares.

    The post 2 top ASX growth shares that experts say are buys appeared first on The Motley Fool Australia.

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium and Readytech Holdings Ltd. The Motley Fool Australia has recommended Readytech Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Here are the top 10 ASX 200 shares today

    Top ten gold trophy.Top ten gold trophy.

    The S&P/ASX 200 Index (ASX: XJO) rebounded from its recent suffering, driven higher by mining giants on Tuesday. The index closed 1.29% higher at 6,806.40 points today.

    Mining stocks led the pack today, with the S&P/ASX 200 Materials Index (ASX: XMJ) leaping 2.7% higher.

    Base metals stayed put overnight as the London Metal Exchange closed for a public holiday. Meanwhile, gold futures slipped 0.3% to US$1,678.20 an ounce and iron ore futures fell 0.4% to US$98.63.

    The S&P/ASX 200 Energy Index (ASX: XEJ) also gained 2%.

    Its gain followed a similar increase in oil prices overnight. The Brent crude oil price lifted 0.7% to US$92 a barrel while the US Nymex crude oil price increased 0.7% to US$85.73 a barrel.

    Only two of the ASX 200’s 11 sectors closed lower today. The S&P/ASX 200 Health Care Index (ASX: XHJ) dumped 0.1% while the S&P/ASX 200 Real Estate Index (ASX: XRE) fell 0.5%.

    But which share outperformed all others? Let’s take a look.

    Top 10 ASX 200 shares countdown

    The index’s top-performing share on Tuesday was coal miner New Hope Corporation Limited (ASX: NHC).

    The company released its earnings for the 12 months ended 31 July this morning, detailing a near-$1 billion profit and upping its dividend by 700%.

    Today’s biggest gains were made by these shares:

    ASX-listed company Share price Price change
    New Hope Corporation Limited (ASX: NHC) $5.94 8.79%
    Brickworks Limited (ASX: BKW) $21.69 5.75%
    Coronado Global Resources Inc (ASX: CRN) $1.80 5.26%
    Mineral Resources Limited (ASX: MIN) $71.58 5.26%
    Lynas Rare Earths Ltd (ASX: LYC) $8.14 4.9%
    Nickel Industries Ltd (ASX: NIC) $0.895 4.68%
    IGO Ltd (ASX: IGO) $14.93 4.63%
    Imugene Ltd (ASX: IMU) $0.23 4.55%
    Champion Iron Ltd (ASX: CIA) $5.40 4.45%
    Webjet Limited (ASX: WEB) $5.43 4.22%

    Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

    The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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    Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool Australia has recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Lynas share price storms 5% higher: Can it keep rising?

    A man clenches his fists with glee having seen the Lake Resources share price go up on the computer screen in front of him.

    A man clenches his fists with glee having seen the Lake Resources share price go up on the computer screen in front of him.

    The Lynas Rare Earths Ltd (ASX: LYC) share price was a strong performer on Tuesday.

    The rare earths producer’s shares ended the day 5% higher at $8.14.

    Why is the Lynas share price rising?

    Investors were bidding the Lynas share price higher today after investors flooded back into the market again following several tough sessions.

    This led to the ASX 200 index rising a sizeable 1.2% on Tuesday with the S&P/ASX 200 Resources index doing a lot of the heavy lifting with its gain of 2.6%.

    Can its shares keep rising?

    One leading broker believes the Lynas share price still has plenty of upside ahead.

    According to a recent note out of Goldman Sachs, its analysts only have a neutral rating on its shares but their price target of $9.10 is meaningfully higher than current levels.

    In fact, this price target implies potential upside of almost 12% for investors over the next 12 months.

    Goldman commented:

    NdPr market to remain in deficit beyond 2025 based on our NdPr SD model incorporating our global 2030 wind & EV targets and ex-China mine supply forecasts. Current NdPr spot China is ~US$93/kg

    Upsized LYNAS 2025 target (12ktpa NdPr) but at higher capex of ~A$1.4bn, where we continue to see execution and capex risks. US gov refinery deals for construction of a light rare earth (LRE) plant (~50% of total ~US$60mn cost) and commercial Heavy Rare Earths (HRE) separation facility (100% of total US$120mn cost) are incremental, where we expect the direct sale of ~0.5ktpa of high value HRE (mostly Dy & Tb) to US customers likely improves realised HRE pricing.

    We see the stock as fairly valued at A$8.25/sh on a DCF basis (~1.1x NAV) based on our long run US$80/kg (real $, from 2026) NdPr price forecast.

    As covered here, Goldman prefers Iluka Resources Limited (ASX: ILU) for rare earths exposure.

    The post Lynas share price storms 5% higher: Can it keep rising? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Mineral Resources share price up 5% as miners lead the market on Tuesday

    Two smiling men in high visibility vests and yellow hardhats stand side by side with a large mound of earth and mining equipment behind them smiling as the Carnaby Resources share price rises todayTwo smiling men in high visibility vests and yellow hardhats stand side by side with a large mound of earth and mining equipment behind them smiling as the Carnaby Resources share price rises today

    The Mineral Resources Limited (ASX: MIN) share price finished up 5.26% at $71.58 on Tuesday.

    The ASX 200 miner didn’t release any news today, however, its home sector led the market.

    The S&P/ASX 200 Materials Index (ASX: XMJ) closed up 2.67%. It was followed by S&P/ASX 200 Energy (ASX: XEJ) shares at 1.99%.

    What’s pushing the Mineral Resources share price higher?

    Mineral Resources has been in the news of late amid speculation it could demerge its lithium operations and list them on the New York Stock Exchange.

    Top brokerage firm UBS says a lithium spin-off could be worth $17 billion. That’s actually more than the total market capitalisation for Minerals Resources as a whole today ($12.9 billion).

    As my Foolish colleague James reported last week, UBS compared the NYSE-listed lithium business, Albemarle Corporation (NYSE: ALB), which trades at 10 times FY24 EBITDA, to the lithium business of Mineral Resources, which trades at just over three times FY24 EBITDA.

    UBS doesn’t necessarily think that the lithium business of Mineral Resources would command as great a premium as Albemarle. But it does consider six times EBITDA possible, which would give the lithium spin-off a valuation of $17 billion.

    UBS has a buy rating on Mineral Resources with a share price target of $83. This represents a potential upside of 16% over the next 12 months.

    Additionally, as my Fool friend Zach reports, there’s been lithium mania in the market in recent years.

    Surging demand for electric vehicles (EVs) around the world has led to a surge in the lithium price, as well as “a huge upswing in exploration, production, and delivery of the battery metal in its various forms”.

    The post Mineral Resources share price up 5% as miners lead the market on Tuesday appeared first on The Motley Fool Australia.

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    Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • 3 ASX resources shares rocketing on Tuesday

    Three satisfied miners with their arms crossed looking at the camera proudlyThree satisfied miners with their arms crossed looking at the camera proudly

    Three ASX resources shares are rising far higher than the ASX 200 Resources Index (ASX: XJR) today.

    The share prices of FELIX Gold Ltd (ASX: FXG), Venture Minerals Ltd (ASX: VMS), and Cobre Ltd (ASX: CBE) are all soaring. For perspective, the ASX 200 Resources Index is 2.65% at the time of writing.

    Let’s take a look at why these ASX resources shares are shooting ahead today.

    Felix Gold

    The Felix Gold share price is surging 18% today. ASX 200 gold share Evolution Mining Ltd (ASX: EVN) is also up 2.44% in late afternoon trading, while Newcrest Mining Ltd (ASX: NCM) is 1.54% higher. Felix Gold is exploring the Fairbanks Gold Mining District of Alaska, US. Recently, Felix advised RC drilling is complete across 131 holes at the Treasure Creek Project. With assay results returned for just nine of the 131 RC holes so far, the company said there is a “strong news flow pipeline”. Managing director and CEO Joe Webb said:

    We now have a big pipeline of RC drill assays to flow over coming months and are excited to have commenced diamond drilling at Treasure Creek to test potential depth extent and target zones at depth, including the key Eastgate IP target.

    Venture Minerals

    The Venture Minerals share price is up 7.69% at 2.8 cents a share after hitting an intraday high of 3.1 cents today, a 19% jump. Venture has discovered Rare Earth Element (REE) mineralisation at the Mount Lindsay project. The REE mineralisation is adjacent to existing tin zones within the project. More infill surface sampling work will be conducted to define the REE anomalism and identify targets for further drill testing. Commenting on today’s news, Venture’s managing director Andrew Radonjic said:

    The fact the Rare Earths are in shallow clays immediately adjacent to high grade Tin Zone bodes well for the economic potential of the Reward Deposit.

    Cobre

    The Cobre share price is 16.33% higher at the time of writing to 28.5 cents a share. Earlier in the session, Cobre shares surged 30% higher to 32 cents each. Cobre is a copper explorer with projects in Botswana and Western Australia. Cobre shares took off today despite no news from the company. The copper price is trading 0.38% today, Trading Economics data shows. Cobre recently advised drilling at NCP12 had intersected with “significant copper mineralisation” at the Ngami Copper Project in Botswana. Further drilling is ongoing. Assay results from drill holes NCP07, NCP08, and NCP09 are expected near the end of September.

    The post 3 ASX resources shares rocketing on Tuesday appeared first on The Motley Fool Australia.

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    Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • AMP share price slips ahead of court findings

    A Chinese investor sits in front of his laptop looking pensive and concerned about pandemic lockdowns which may impact ASX 200 iron ore share pricesA Chinese investor sits in front of his laptop looking pensive and concerned about pandemic lockdowns which may impact ASX 200 iron ore share prices

    The AMP Ltd (ASX: AMP) share price has been continuing to slip throughout the day.

    This comes as the Federal Court handed down its verdict regarding AMP’s plan service fee charges to its customers.

    At market open, the financial services company’s shares kicked off at $1.21 apiece.

    However, news broke out about the court outcome and investors have been selling down AMP shares since.

    Currently, the share is down 2.07% to $1.185.

    In contrast, the S&P/ASX 200 Index (ASX: XJO) is up 1.19% following modest gains on Wall Street overnight.

    What happened?

    According to AMP’s release, the Federal Court of Australia handed down a $14.5 million fine to the company after it wrongly charged more than 1,500 customers.

    AMP wrongly charged more than 1,500 customers in advice service fees despite knowing that these customers had no access to the paid service.

    The Federal Court alleges that AMP took over $600,000 in advice service fees from customer superannuation accounts.

    The hefty fee is closer to what ASIC sought which was $17.5 million compared to AMP’s suggested $4.6 million penalty.

    AMP said that the fine has already been provisioned in its 30 June 2022 half-year financial statements.

    About the AMP share price

    Despite heading south today, the AMP share price has travelled 25% higher over the past 12 months.

    On the other hand, the S&P/ASX 200 Financials (ASX: XFJ) sector is down 5% since this time last year.

    AMP has a price-to-earnings (P/E) ratio of 29.33 and commands a market capitalisation of roughly $3.95 billion.

    The post AMP share price slips ahead of court findings appeared first on The Motley Fool Australia.

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    Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Why Accent, Bigtincan, Clinuvel, and IVE shares are dropping today

    A woman sits with her hands covering her eyes while lifting her spectacles sitting at a computer on a desk in an office setting.

    A woman sits with her hands covering her eyes while lifting her spectacles sitting at a computer on a desk in an office setting.

    The S&P/ASX 200 Index (ASX: XJO) is back on form on Tuesday and is charging notably higher. In afternoon trade, the benchmark index is up 1.2% to 6,799.7 points.

    Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

    Accent Group Ltd (ASX: AX1)

    The Accent share price is down 5% to $1.27. This is despite there being no news out of the footwear focused retailer on Tuesday. This latest decline means the Accent share price is now down by a disappointing 49% since the start of the year. Investors appear concerned what impact a recession could have on its sales.

    Bigtincan Holdings Ltd (ASX: BTH)

    The Bigtincan share price is down over 4% to 55.5 cents. Investors have been selling this sales enablement software platform provider’s shares despite the release of a positive business update. That update reveals that Bigtincan has successfully locked in 43% of FY 2022’s annual recurring revenue (ARR) of $120.1 million through to the end of FY 2023. This compares to 31% at a similar stage a year earlier.

    Clinuvel Pharmaceuticals Limited (ASX: CUV)

    The Clinuvel share price has continued its slide and is down 3% to $19.37. Investors have been selling this biopharmaceutical company’s shares this week after they were dumped out of the ASX 200 index at the quarterly rebalance. The release of its latest strategy update has also failed to get investors excited.

    IVE Group Ltd (ASX: IGL)

    The IVE share price is down 4% to $2.29. This morning this printing company announced the completion of an institutional placement. IVE has raised $18 million via the issue of 8 million shares at $2.25 per new share. The capital raising will preserve significant balance sheet capacity for IVE following a recent acquisition. This balance sheet strength will be used to pursue previously announced growth initiatives including further organic initiatives or acquisitions.

    The post Why Accent, Bigtincan, Clinuvel, and IVE shares are dropping today appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended BIGTINCAN FPO. The Motley Fool Australia has positions in and has recommended BIGTINCAN FPO. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Dogecoin price gains send it back among top 10 global cryptos

    dog using a laptop

    dog using a laptop

    The Dogecoin (CRYPTO: DOGE) price is up 2% over the past 24 hours to 5.85 US cents.

    That gives the crypto, which sports a Shiba Inu dog as its virtual mascot, a market cap of US$7.75 billion.

    And that’s enough to vault Dogecoin back into the number 10 spot on the list of top global cryptos, nudging ahead of Polkadot (CRYPTO: DOT), with a total market valuation of US$7.04 billion.

    Though it should be said that this is more due to Polkadot’s weakness than any huge surge in the Dogecoin price.

    Despite today’s bump, Dogecoin remains down 8% since this time last week. Polkadot has slid by 17%, according to data from CoinMarketCap.

    Dogecoin now the second biggest crypto to operate on PoW

    Last week Ethereum (CRYPTO: ETH) finally completed its long-awaited merge.

    That merge now sees the network operating on a proof of stake (PoS) protocol versus the previous proof of work (PoW).

    The switch entails validators staking some of their Ether to participate in verifying transactions and securing the blockchain. One of the biggest immediate advantages is a 99% plus reduction in the amount of energy used, as PoS requires far fewer energy-hungry computers.

    With Ethereum exiting PoW, and the Dogecoin price rise edging it back to the number 10 spot, the meme token is now the second biggest crypto to operate on PoW. Bitcoin (CRYPTO: BTC), with a market cap of US$369.95 billion, remains the, erm, top dog in PoW protocols.

    Where to next for the Dogecoin price?

    It remains to be seen how cryptos operating under PoW will fare over the coming year. Part of that will depend on what issues may yet crop up for Ethereum under its new PoS system.

    More immediately, the Dogecoin price could face a big move higher or lower after the US Federal Reserve announces its next interest rate decision on Wednesday (overnight Aussie time).

    Equity and crypto markets have broadly priced in a 0.75% rate hike. But if the Fed opts to go harder sooner with a 1% rate boost in the world’s biggest economy, risk assets will likely take a hit. Should the Fed surprise with a lower rate hike, the Dogecoin price will likely benefit.

    The post Dogecoin price gains send it back among top 10 global cryptos appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Dogecoin right now?

    Before you consider Dogecoin, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Dogecoin wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of September 1 2022

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    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia has positions in and has recommended Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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