Dogecoin has surged 6% this week following its classification as a digital commodity by US regulators, aligning it with major cryptocurrencies like Bitcoin and Ethereum. This regulatory clarity has boosted market confidence, with open interest reaching $1.4 billion and whale accumulation exceeding $330 million. The price is currently testing the $0.1018 resistance level, indicating a potential breakout toward $0.1172.
The new classification has reshaped market sentiment, providing a clearer framework for institutional and retail investors. This has led to more consistent trading behavior and increased on-chain activity as prices approach the ten-cent mark. Analysts note a tightening price structure within a parallel channel, suggesting building pressure for a decisive breakout. A confirmed close above $0.1018, supported by higher volume, could validate a move toward the $0.1172 level.
Dogecoin Rises 6% as US Regulators Classify It as Digital Commodity
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