Dogecoin (DOGE) is showing potential bullish continuation as a bull flag forms, with a breakout potentially strengthening buying momentum. Recent SEC guidance also describes meme coins as collectible-like assets, which could reduce regulatory uncertainty while highlighting DOGE’s speculative, community-driven nature.
At the time of writing, DOGE is trading at $0.08486 with a 24-hour trading volume of $874.82 million and a market capitalization of $14.54 billion. Despite the 4.04% loss over the last 24 hours, the DOGE price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Dogecoin Eyes Breakout Toward $0.40 as Whale Buying Reaches $153M
DOGE Price Eyes $0.115 as Bull Flag Forms
According to the crypto analyst Ali Charts, Dogecoin (DOGE) is showing signs of a potential bullish continuation as its hourly chart appears to be forming a bull flag pattern.
The setup suggests buyers may be consolidating before another upward move, although a temporary decline remains possible. If selling pressure emerges, the $0.081 support level could become the next important area to monitor.
Source: Ali Charts’ X Post
The primary resistance comes at the level of $0.090, thus being an essential support to take note of for Dogecoin.
Breaking above it would be a confirmation of a breakout, enabling the climb towards $0.115. This would be around 30% of gains since the breakout area, possibly increasing bulls’ appetite.
SEC Calls Dogecoin a Collectible-Like Asset
The data from dogegod further highlighted that Dogecoin (DOGE) has attracted renewed interest since guidelines from the U.S. Securities and Exchange Commission defined meme coins as assets whose value may be largely speculation-driven, demand-driven, and sentiment-driven.
The SEC’s definition puts meme coins under the category of collectibles, thus separating them from other cryptocurrency assets whose value may be dependent on managerial activities of their issuers.
This explanation may help resolve some of the uncertainty around the regulation of Dogecoin in the United States.
However, categorizing it as collectible-like means that investors do not get any protection under the federal securities laws. In fact, it is an indication that DOGE has certain qualities associated with speculation and a community-based project.
What Happens Next for Dogecoin?
The future of Dogecoin would be highly dependent on whether DOGE manages to break above the resistance at the $0.090 mark, which, in turn, would take the coin higher towards the target area at $0.115, and if not, DOGE will move lower towards the $0.081 support level.
Also Read: DOGE Price Eyes $5+ Rally as iOS Integration Fuels Bullish Sentiment
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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