Market
Crypto Czar Dismisses Securities Label for NFTs and Memecoins

White House advisor David Sacks argues that non-fungible tokens (NFTs) and meme coins do not belong in the securities or commodities category.
Instead, Sacks suggested they are better understood as collectibles, similar to items like stamps or baseball cards.
Sacks Argues Authorities Should Treat NFTs and Meme Coins as Collectibles
During a Fox interview on January 24, Sacks shared his views while discussing the Donald Trump-themed meme coin. He emphasized the sentimental value of these tokens, explaining that people often purchase them to commemorate events or celebrate figures.
“When you’re talking about digital assets, it can be multiple things. You’ve got digital assets that are securities, that are commodities, digital assets that are collectibles like NFTs or meme coins. So, you know, you’re talking about a whole vast area of innovation. And so digital assets can be a number of different things,” Sacks explained.
Notably, the GetTrumpMeme website had marketed the Trump meme coin as a tribute to the president’s determination and leadership. Over the past week, the digital asset gained market attention due to its ties with the president. However, some have criticized the token, citing conflict-of-interest claims.
Meanwhile, Sacks’ remarks bring renewed attention to the debate about classifying digital assets. While some view them as securities akin to stocks, others argue they resemble commodities like gold. Notably, the US Securities and Exchange Commission (SEC), under Gary Gensler, had designated some NFTs and cryptocurrencies as securities, creating tension within the industry over regulatory clarity.
However, efforts to address this ambiguity are gaining traction under Trump’s new administration. The President has tasked a newly formed crypto task force to make the US a emerging industry leader. This task would involve clearly defining digital assets, including what qualifies as a security, commodity, or collectible.
Sacks believes clearer regulations could reignite innovation within the US crypto industry. He noted that this would reverse the exodus of companies prompted by unclear policies under previous administrations.
“What the industry wants more than anything else is regulatory clarity. Just tell us what the rules are, and we will abide by them. The Biden administration would never do that, and because of that, all the innovation was basically moving offshore, and America was about to lose this technology of the future. We want that innovation happening here in the United States, and I think it will now because President Trump has declared that it must be the crypto capital of the world,” Sacks stated.
Market observers noted that the federal crypto task force and crypto-focused groups within agencies like the SEC and CFTC signal a more proactive approach to regulating the industry. These measures are already influencing the sector, with some companies considering a return to the US and others exploring expansion opportunities.
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Market
Dogecoin (DOGE) Bulls In Trouble—Can They Prevent a Drop Below $0.15?

Dogecoin started a fresh decline from the $0.1880 zone against the US Dollar. DOGE is declining and might test the $0.150 support zone.
- DOGE price started a fresh decline below the $0.1850 and $0.1750 levels.
- The price is trading below the $0.1750 level and the 100-hourly simple moving average.
- There is a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price could extend losses if it breaks the $0.1620 support zone.
Dogecoin Price Dips Further
Dogecoin price started a fresh decline after it failed to clear $0.200, like Bitcoin and Ethereum. DOGE dipped below the $0.1880 and $0.1820 support levels.
The bears were able to push the price below the $0.1750 support level. It even traded close to the $0.1620 support. A low was formed at $0.1628 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low.
Dogecoin price is now trading below the $0.1750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.170 level. There is also a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair.
The first major resistance for the bulls could be near the $0.1730 level. The next major resistance is near the $0.1770 level. A close above the $0.1770 resistance might send the price toward the $0.1850 resistance.
The 50% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low is also near the $0.1850 zone. Any more gains might send the price toward the $0.1880 level. The next major stop for the bulls might be $0.1950.
More Losses In DOGE?
If DOGE’s price fails to climb above the $0.1770 level, it could start another decline. Initial support on the downside is near the $0.1635 level. The next major support is near the $0.1620 level.
The main support sits at $0.1550. If there is a downside break below the $0.1550 support, the price could decline further. In the stated case, the price might decline toward the $0.1320 level or even $0.120 in the near term.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.
Major Support Levels – $0.1620 and $0.1550.
Major Resistance Levels – $0.1720 and $0.1770.
Market
XRP Price Fate Hangs on $2.00—Major Move Incoming?

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Market
Ethereum Price Weakens—Can Bulls Prevent a Major Breakdown?

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Ethereum price started another decline and traded below the $1,880 level. ETH is now consolidating and remains at risk of more losses.
- Ethereum struggled to continue higher above the $2,000 resistance level.
- The price is trading below $1,880 and the 100-hourly Simple Moving Average.
- There is a connecting bearish trend line forming with resistance at $1,820 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair must clear the $1,820 and $1,880 resistance levels to start a decent increase.
Ethereum Price Dips Again
Ethereum price failed to continue higher above $2,100 and started another decline, like Bitcoin. ETH declined below the $1,920 and $1,880 support levels.
It tested the $1,765 zone. A low was formed at $1,767 and the price recently attempted a fresh upward move. There was a move above the $1,800 level but the price is still below the 23.6% Fib retracement level of the recent decline from the $2,033 swing high to the $1,767 low.
Ethereum price is now trading below $1,880 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $1,820 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $1,820 level. The next key resistance is near the $1,880 level and the 50% Fib retracement level of the recent decline from the $2,033 swing high to the $1,767 low. The first major resistance is near the $1,920 level.

A clear move above the $1,920 resistance might send the price toward the $2,000 resistance. An upside break above the $2,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,050 resistance zone or even $2,120 in the near term.
More Losses In ETH?
If Ethereum fails to clear the $1,880 resistance, it could start another decline. Initial support on the downside is near the $1,780 level. The first major support sits near the $1,765 zone.
A clear move below the $1,765 support might push the price toward the $1,720 support. Any more losses might send the price toward the $1,680 support level in the near term. The next key support sits at $1,650.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $1,765
Major Resistance Level – $1,880
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