Dogecoin jumps 6% after US regulators label it a digital commodity

Dogecoin posted a roughly 6% weekly gain after US regulators classified the token as a digital commodity, a move that market participants say places it closer to major cryptocurrencies such as Bitcoin and Ethereum and helps clarify its long-term standing. Derivatives activity strengthened alongside the shift in sentiment. Open interest rose to about $1.4 billion, the highest level in more than two months, suggesting traders are positioning for a larger directional move rather than short-term volatility. On-chain data also points to heavier accumulation by large holders during the recent consolidation. Whale wallets added more than $330 million worth of Dogecoin over the past week. Technically, DOGE remains confined to a tightening parallel channel. The $0.1018 area has capped the price, rejecting five consecutive attempts to break higher. Analysts note that repeated tests of resistance can erode supply, particularly if buying interest continues to build. Momentum indicators are beginning to tilt in favor of buyers. A confirmed four-hour close above $0.1018, backed by higher volume, would strengthen the breakout case and open the way toward $0.1172 near the channel's upper boundary.