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‘Crypto president’ Donald Trump’s new and improved Securities and Exchange Commission (SEC) has announced today the creation of a crypto task force to tackle the industry’s regulations.

Per the official statement from SEC Acting Chairman Mark T. Uyeda, this task force will be led by Commissioner Hester Peirce, and it will develop “clear rules for crypto,” something that has been missing for years.

The group is also designed to work with government agencies, Congress, and international bodies. Peirce, long nicknamed “Crypto Mom,” has been a proud advocate for crypto for years.

She will be supported by Richard Gabbert, who will serve as Chief of Staff, and Taylor Asher, stepping into the role of Chief Policy Advisor.

SEC steps up as crypto chaos intensifies

Under Gary Gensler, the SEC was criticized for its heavy-handed and inconsistent approach to crypto regulation, relying mostly on enforcement actions instead of clear guidelines. Companies have been left guessing what’s allowed and what isn’t, often finding out the hard way.

This new task force claims it’s gonna change that by setting straightforward rules for registration and compliance. Uyeda said:

“This undertaking will take time, patience, and much hard work. It will succeed only if the Task Force has input from a wide range of investors, industry participants, academics, and other interested parties. We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation.”

The task force will also coordinate with federal departments like the Commodity Futures Trading Commission (CFTC) and international regulators.

Commissioner Peirce added that the initiative would only succeed if it had plenty of input from industry stakeholders. Meanwhile, the crypto market erupted with the news as President Trump’s own memecoin, $TRUMP, finally went green again.

The token, which plummeted two days ago after First Lady Melania Trump launched MELANIA, has now revived to above $50 as of press time. Coinbase decided to list the meme coin too following the news. But Kraken has already made headlines as the first US exchange to do so four days ago.

Social media buzzed with criticism, with many pointing out the risks of mixing influential people with crypto projects, as we’ve seen many times in the past. Despite the backlash, analysts like Gautam Chhugani from Bernstein believe: “The President of America has his own coin. Our view would be to view the event as a signal that a new crypto regulatory era is here to stay and invest in the more valuable parts of the ecosystem.”

Meanwhile, after hitting $109,350 before Trump’s inauguration, Bitcoin dipped to $103,527 shortly after before rebounding to $107,000 at press time.

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Dogecoin (DOGE) has been making some intriguing moves lately, catching the attention of traders and enthusiasts alike. Right now, it’s hovering around $0.3875, showing a big uptick of about 7.6% from the last close. Over the day, it’s been bouncing between a high of $0.3969 and a low of $0.3368, so there’s definitely been some volatility in its price action.

DOGE Price Analysis

Looking at the technical side, DOGE seems to be trading within an ascending channel, which is generally a bullish sign. If it dips below this channel, we’re likely to see support levels kick in around $0.27 to $0.23. On the flip side, if it manages to break out above, it could target $0.48, with the potential to push further to $0.59. That’s an exciting possibility for anyone keeping a close watch on this meme-inspired coin.

That said, there’s a bit of caution here. DOGE has slipped below the floor of its rising trend channel over the medium to long term, which could mean a slowdown in its upward momentum. It’s a signal that traders should be mindful of, as it might temper the bullish enthusiasm.

All in all, Dogecoin is showing some promise, but as always, the crypto market loves to surprise us. Keeping a close eye on these key levels and trends can help you navigate its ever-changing dynamics.

DOGE Price Prediction

Analysts have provided various forecasts for Dogecoin’s price trajectory. DOGE is forecasted to reach $0.361 on January 21, 2025, marking a 0.78% change. Expert analysis suggests that Dogecoin’s value will increase by approximately 0.7%, reaching $0.367 by January 22, 2025. Other DOGE price predictions reveal that the memecoin hitting $1.0 in 2025 appears realistic, considering current market dynamics and investor sentiment.

The establishment of the Department of Government Efficiency (DOGE), co-led by Elon Musk, has created a sense of optimism among Dogecoin proponents. Musk’s influence within the administration is perceived as a potential catalyst for Dogecoin’s value appreciation.

Recent surges in whale activity have sparked speculation of a major rally. In the past day alone, DOGE trading volumes soared nearly 20%, indicating increased demand and reduced circulating supply, which could pave the way for a price increase.

Frequently Asked Questions (FAQs)

What are the short-term price predictions for Dogecoin?

Short-term predictions suggest that Dogecoin could reach approximately $0.361 to $0.367 by January 22, 2025.

Is Dogecoin a good long-term investment?

Long-term investment viability depends on various factors, including market dynamics and investor sentiment. Some analysts believe that Dogecoin reaching $1.0 in 2025 is realistic.

How can I purchase Dogecoin?

Dogecoin can be purchased on various cryptocurrency exchanges. Ensure to use reputable platforms and implement proper security measures for your investments.

Investment Considerations

Investing in cryptocurrencies like Dogecoin carries inherent risks due to market volatility. Prospective investors should:

Conduct Thorough Research: Understand Dogecoin’s technological framework, market position, and the broader cryptocurrency landscape.

Assess Financial Situation: Evaluate personal financial circumstances and risk tolerance before investing.

Diversify Portfolio: Consider diversifying investments to mitigate potential risks associated with individual assets.

Consult Financial Advisors: Seek professional financial advice to make informed investment decisions.

GM!

In Davos this week meeting world and corporate leaders. The sentiment has shifted significantly and now more are keen to embrace crypto and digital assets.