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Dogecoin trades steadily above a key support band after a volatile stretch earlier in the month. Buyers continue to defend the $0.14974 area, which now acts as an important line for the short-term trend. At the same time, a new law in Buenos Aires that accepts Dogecoin for tax payments adds a real-use narrative.
Market sentiment around Dogecoin has improved as traders respond to the recent breakout from a descending triangle pattern. This pattern capped upside for several weeks, so the breakout gave bulls a first clear structural advantage. Holding above $0.14974 helps confirm that advantage and reduces the risk of another deep retracement.
Additionally, short-term indicators point away from the earlier weakness and toward a more balanced momentum profile. Signals around the mid-range show buyers stepping in more regularly, not just during sharp dips. However, Dogecoin still needs to overcome selling pressure between $0.15 and $0.16, where many traders recently booked profit.
If Dogecoin pushes toward the $0.18190 region and holds above prior resistance, traders may treat the move as a firm reversal. For now, the market builds a base rather than a full breakout, but the structure looks more constructive than in early November. The key test remains whether buyers continue to protect the current floor during any new pullback.
Recent order flow shows steady demand for Dogecoin over the past few weeks. Buyers control most executed volume, which fits an accumulation phase rather than brief speculative bursts that disappear as soon as conditions change. During intraday dips, bids regularly absorb sell pressure, helping DOGE hold above support and limiting any rush to exit positions.
Futures data also leans toward the bullish side. A clear majority of open accounts carry long exposure, a pattern that often appears when traders expect the move after a breakout to continue and shift their strategies to match that view. The same imbalance, though, can sharpen swings if the market turns quickly and highly leveraged traders need to unwind.
Funding rates are just above neutral, so long traders pay a small fee to stay in their positions. This behavior began around the breakout and continued through late November, which points to steady conviction rather than a short-lived burst of enthusiasm.
A decision from Buenos Aires to accept Dogecoin for tax payments gives the asset a clear real-world role. Residents can now settle certain tax obligations directly in DOGE instead of converting holdings back into local currency.
This step aligns with a growing trend inside Argentina, where many citizens already use digital assets in daily life. High inflation and currency uncertainty pushed people toward alternative stores of value, including major cryptocurrencies.
By allowing Dogecoin tax payments, the city signals increasing comfort with blockchain-based assets in public finance. This move may also encourage local businesses and developers to build tools that support DOGE payments and reporting.
Also Read: DOGE Faces Critical Price Test While Grayscale ETF Debut Shows Limited Interest
