Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) rallied 5% on Tuesday after the Senate Banking Committee released a draft bill that would give DOGE the same regulatory treatment as Bitcoin (CRYPTO: BTC)—classifying it as a commodity rather than a security.

Senate Bill Gives DOGE Same Status As Bitcoin

The draft bill’s key provision is simple: because a Dogecoin ETF was already trading on a major exchange before January 1, DOGE automatically qualifies for “non-ancillary asset” status. 

This means DOGE escapes SEC securities rules and registration requirements that other crypto projects face.

Exchanges like Coinbase can now list DOGE without securities law risk. 

Asset managers who shelved Dogecoin ETF applications have legal clarity to resubmit.

The Senate Banking Committee votes Thursday. If it passes, the regulatory barrier blocking more Dogecoin ETF products disappears entirely.

DOGE Tests Key Resistance Ahead

DOGE bounced above the 20-day moving average at $0.13828 for the first time in months.

The meme coin crashed 55% from September’s $0.27 peak to December’s $0.1215 low, and today’s move suggests the bleeding might be stopping.

Dogecoin price remains trapped below the 50-day EMA at $0.14288, 100-day EMA at $0.15911, and the 200-day EMA at $0.17894. All three levels need to be reclaimed before a real recovery can begin.

What’s interesting: Blockchain data shows continued accumulation despite the brutal selloff, suggesting some investors are building positions at these depressed levels. 

DOGE is testing mid-channel resistance around $0.143-$0.145. Breaking above this could trigger short covering toward $0.16.

However, support sits at $0.138. Losing that level targets $0.126, then $0.115-$0.12. Breaking $0.10 would signal complete capitulation.

SHIB Rallies After 62% Collapse From August High

SHIB just formed what traders call a double-bottom—hitting the same low twice without breaking through. 

If this pattern holds, it could trigger aggressive short covering given how negative sentiment became during the selloff.

However, the Supertrend remains bearish at $0.00000754, and price trades below all meaningful resistance levels.

Clearing $0.000014 would signal the worst is over and real recovery could push toward $0.000016-$0.000018.

Support holds at $0.00000822. Losing $0.0000075 retests the December low at $0.00000676. 

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