Dogecoin Drops 7% After Brief Rally Amid Rising Hopes of a DOGE ETF

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Dogecoin (DOGE) Sees Volatile Trading Session

Dogecoin (DOGE) experienced a notable degree of volatility over the past 24 hours, initially climbing to $0.20 before retracing to $0.191, representing a trading range of approximately 6.63%.

Late in the session, the meme coin exhibited a V-shaped recovery, rebounding to $0.192 with increasing trading volume. However, resistance appears to be holding firmly just above the $0.20 mark.

Market Context

Dogecoin's recent price movements coincide with renewed interest in meme tokens, spurred by recent shifts within the broader cryptocurrency market.

Speculation surrounding a potential Dogecoin ETF has been gaining momentum. Data from Polymarket indicates a 51% probability of SEC approval in 2025 – a development that could potentially attract significant institutional investment.

Furthermore, Dogecoin's integration with Coinbase's Base network is adding practical utility. This integration introduces wrapped DOGE into decentralized finance (DeFi) ecosystems on a significant scale for the first time.

The meme coin's capacity to attract substantial volume support around key price levels suggests that institutional investors may be discreetly establishing positions, even as retail traders maintain a cautious stance.

Technical Analysis Summary

• DOGE initially rose from $0.196 to $0.204 (a 4.08% increase), before reversing sharply to $0.191 (representing a 6.63% range).
• Resistance was confirmed in the $0.203–$0.204 range following three rejections accompanied by high trading volume (over 1 billion units at 07:00).
• Support established around $0.192, with short-lived rebounds from this level despite overall market weakness.
• The final hour saw a dip from $0.192 to $0.190, followed by a swift V-shaped recovery back to $0.192.
• Signs of accumulation emerged, with volume increasing past 2.3 million in the closing minutes.