Musk-Trump Truce Sends Dogecoin Skyward, With Ethereum Along for the Ride: Analysis
Dogecoin (DOGE) has shown signs of recovery, rising 6.32% to $0.20, driven by Elon Musk's public apology to Donald Trump, which eased political tensions and speculation around ETF approvals. Trading volume surged to $1.65 billion, indicating strong market interest. Analysts upgraded DOGE's ETF approval odds to 80%, reflecting growing institutional interest. Technical analysis shows DOGE attempting to break above its 50-day EMA at $0.1933, with immediate resistance at $0.214 and support at $0.186. Ethereum (ETH) increased by 2.3% to approximately $2,880, fueled by regulatory optimism and significant investments in Ethereum ETFs. The bipartisan CLARITY Act could solidify ETH's status as a CFTC-regulated commodity, attracting institutional funds. Technical indicators suggest bullish momentum, with resistance at $2,900 and support between $2,600-$2,400. Despite positive signals, challenges include competition from Solana and potential exhaustion among day traders.
