Dog-themed cryptocurrency Dogecoin experienced $998 million in trading volume over the past 24 hours, but this is not the only thing attracting interest: in a recent tweet, Ed Tubbs, senior software engineer at the Dogecoin Foundation, highlighted a key advancement for the dog coin.
According to Ed Tubbs, Dogecoin was one of the first cryptocurrencies to include TEE support. Trusted Execution Environments (TEEs) are secure regions of a device’s processor that keep sensitive data and operations safe from outside influence, including the main operating system. In April, libdogecoin v0.1.4 was released, which added secure enclaves (TEEs) for key management and signatures.
With cryptocurrency security becoming a major subject due to increasing hacks and exploits, Dogecoin’s move toward TEE integration could boost trust and long-term viability.
Libdogecoin 0.1.4 included support for secure enclaves, allowing key-related operations like mnemonic generation and seed processing to occur in isolated settings.
Dogecoin price action
At press time, DOGE was trading down 0.25% in the last 24 hours to $0.19. After declining for four days in a row over the weekend, Dogecoin fell below the daily SMA 50 to $0.196, where it has remained for the past three days.
In case of further selling, Dogecoin could fall to $0.16. Buyers are anticipated to vigorously defend the $0.16-$0.14 range since a break below it might send Dogecoin to $0.10. A strong rebound from the support zone could keep Dogecoin trapped in the range for some time.
A climb above the daily SMA 50 and, in particular, $0.21 might put the broad $0.26-$0.14 range into play.
Buyers might need to push the price over the $0.26 resistance to signify the commencement of the next leg of the uptrend. Dogecoin might then jump to $0.34.
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