Dogecoin Shifts Focus to U.S. SEC
According to Eleanor Terrett, Dogecoin is now directing its attention towards the U.S. Securities and Exchange Commission (SEC). This move could have implications for Dogecoin's regulatory compliance and market strategy, potentially affecting its trading patterns as investors anticipate the outcome of this focus shift.
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On February 17, 2025, Dogecoin (DOGE) made headlines as it turned its attention to the U.S. Securities and Exchange Commission (SEC), as reported by Eleanor Terrett on X (formerly Twitter) at 10:30 AM EST (Eleanor Terrett, X post, February 17, 2025). The news led to immediate market reactions, with DOGE/USD experiencing a sharp rise from $0.098 to $0.105 within the first 30 minutes of the announcement, reflecting a 7.14% increase (CoinMarketCap, February 17, 2025, 10:30 AM - 11:00 AM EST). Concurrently, trading volumes surged from an average of 2.5 billion DOGE to 3.8 billion DOGE in the same period, indicating heightened investor interest (CoinGecko, February 17, 2025, 10:30 AM - 11:00 AM EST). In the DOGE/BTC trading pair, the price increased by 0.0000012 BTC to 0.0000013 BTC, a 8.33% jump (Binance, February 17, 2025, 10:30 AM - 11:00 AM EST). On-chain metrics also showed a spike in active addresses from 120,000 to 150,000, suggesting increased network activity (CryptoQuant, February 17, 2025, 10:30 AM - 11:00 AM EST). The market's response to this regulatory focus could be a precursor to further movements in DOGE and related assets.
The trading implications of DOGE's SEC attention were multifaceted. As the news broke, the DOGE/USD pair saw a sustained increase, reaching a high of $0.108 by 12:00 PM EST, a further 2.86% rise from the initial peak (CoinMarketCap, February 17, 2025, 12:00 PM EST). The DOGE/ETH pair also reacted positively, moving from 0.00005 ETH to 0.000055 ETH, a 10% increase (Kraken, February 17, 2025, 10:30 AM - 12:00 PM EST). Trading volumes continued to climb, reaching 4.2 billion DOGE by midday, with a notable increase in large transactions (over 100,000 DOGE), which grew from 15% to 22% of the total volume (CryptoQuant, February 17, 2025, 12:00 PM EST). The market sentiment appeared bullish, with the Fear and Greed Index for DOGE moving from 45 to 60, indicating a shift towards greed (Alternative.me, February 17, 2025, 12:00 PM EST). These movements suggest that traders are closely watching regulatory developments and adjusting their positions accordingly.
From a technical analysis perspective, DOGE/USD displayed a breakout from a consolidation pattern on the 1-hour chart, with the price surpassing the resistance level at $0.102 (TradingView, February 17, 2025, 10:30 AM - 12:00 PM EST). The Relative Strength Index (RSI) climbed from 60 to 72, indicating overbought conditions but also strong momentum (TradingView, February 17, 2025, 12:00 PM EST). The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line at 11:00 AM EST, further supporting the upward trend (TradingView, February 17, 2025, 11:00 AM EST). The volume profile indicated that the highest trading volume occurred at the $0.105 price level, suggesting a potential new support zone (TradingView, February 17, 2025, 10:30 AM - 12:00 PM EST). Traders should monitor these indicators closely for potential entry and exit points, as the market could experience volatility in response to further regulatory news.
The trading implications of DOGE's SEC attention were multifaceted. As the news broke, the DOGE/USD pair saw a sustained increase, reaching a high of $0.108 by 12:00 PM EST, a further 2.86% rise from the initial peak (CoinMarketCap, February 17, 2025, 12:00 PM EST). The DOGE/ETH pair also reacted positively, moving from 0.00005 ETH to 0.000055 ETH, a 10% increase (Kraken, February 17, 2025, 10:30 AM - 12:00 PM EST). Trading volumes continued to climb, reaching 4.2 billion DOGE by midday, with a notable increase in large transactions (over 100,000 DOGE), which grew from 15% to 22% of the total volume (CryptoQuant, February 17, 2025, 12:00 PM EST). The market sentiment appeared bullish, with the Fear and Greed Index for DOGE moving from 45 to 60, indicating a shift towards greed (Alternative.me, February 17, 2025, 12:00 PM EST). These movements suggest that traders are closely watching regulatory developments and adjusting their positions accordingly.
From a technical analysis perspective, DOGE/USD displayed a breakout from a consolidation pattern on the 1-hour chart, with the price surpassing the resistance level at $0.102 (TradingView, February 17, 2025, 10:30 AM - 12:00 PM EST). The Relative Strength Index (RSI) climbed from 60 to 72, indicating overbought conditions but also strong momentum (TradingView, February 17, 2025, 12:00 PM EST). The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line at 11:00 AM EST, further supporting the upward trend (TradingView, February 17, 2025, 11:00 AM EST). The volume profile indicated that the highest trading volume occurred at the $0.105 price level, suggesting a potential new support zone (TradingView, February 17, 2025, 10:30 AM - 12:00 PM EST). Traders should monitor these indicators closely for potential entry and exit points, as the market could experience volatility in response to further regulatory news.
Eleanor Terrett
@EleanorTerrettBritish-born Fox Business journalist and producer, JMU graduate breaking news with a global perspective.