Dogecoin is drawing fresh attention as speculation grows around a potential recovery, driven in part by rising interest in a new Grayscale DOGE ETF.
Key Points
- Dogecoin has stabilized at a critical support zone on the daily chart.
- Historically, DOGE has bounced sharply whenever it returns to this level.
- A major potential catalyst is the launch of new DOGE ETFs from 21Shares and Grayscale.
Dogecoin slipped nearly 5% on Friday as the broader crypto market downturn intensified. At around $0.1420, the meme coin is now trading 53% below its September peak. This decline has increased focus on whether the upcoming DOGE ETF launches could help fuel a rebound.
21Shares DOGE ETF Launches Next Week
A significant driver for Dogecoin in the near term is the upcoming debut of the 21Shares 2x DOGE ETF, expected early next week.
This release coincides with the Grayscale DOGE ETF going live, giving U.S. institutions a new way to gain exposure to the leading meme coin.
However, market confidence remains mixed. The REX-Osprey DOGE ETF (DOJE), launched two months ago, has struggled to attract demand. It holds just $24 million in assets and currently trades at a 2% discount to its net asset value.
There are further concerns that recent altcoin ETFs have not been able to stop the ongoing market sell-off. Solana has fallen to its lowest price since April despite strong ETF inflows. Similarly, XRP and HBAR continued to drop even after their ETFs launched.
Dogecoin’s next move will heavily depend on overall crypto market conditions. If the broader downturn worsens, DOGE could face more pressure. Continued liquidations and potential market manipulation remain key risks.
Technical Outlook for DOGE
On the daily chart, Dogecoin has been trending lower for several months, falling from $0.3063 in September to around $0.1425 today.
The current price area is a crucial support level that has repeatedly held since March. Each time DOGE returned to this zone, the price rebounded by double digits.
If buyers step in ahead of the ETF launches, Dogecoin could rally toward the next major resistance at $0.200, representing a gain of roughly 45% from current levels.
However, a breakdown below this support would signal that bearish momentum has taken control. In that case, DOGE could slide toward the next significant support near $0.10.
