The curious case of Dogecoin has continued for yet another day as price tested 60 cents before pulling back.

Over the course of the session, the new highs saw Dogecoin claim the number four position based on market cap, with a value of now more than $70 billion.

For me, Doge continues to make me scratch my head because on the surface it doesn’t have any real utility, there is no real team involved in its development and there is clearly a fair bit of speculation involved in its rapid price appreciation.

Contrast that and many utility tokens are holding relatively steady or even falling at the moment.

However, this is not to take anything away from Doge and its bullish run. If anything, I believe that if Doge can 10x in a matter of weeks, then that does bode well for the entire alt-coin sector, many of which have huge utility.

There are also rumours that a big spike in Doge could be another trigger for regulation. As we know, XRP is currently battling it out with the SEC and this is to be the first real test of the sector.

Looking at what lies ahead for Doge and clearly, it is the 60 cent level that is next in line for a retest. We will of course have 50 cents as resistance turned support.

Underneath that point, 45 cents has been a top of a couple of occasions prior to this latest surge higher.

Can the bull run continue? In the short term, there is nothing stopping it. Looking ahead, we must assess its use case and also the likelihood of regulation, which as we’ve heard from Janet Yellen today, is closer than many think,