Dogecoin rose by more than 11 % this week after a major announcement issued by the 21 Shares Asset Director, which presented a S-1 registration with SEC to launch Spot Spot ETF on Wednesday.
The deposit, which will witness Coinbase Custom Hold Never of the Fund, will be marketed by House of Doge- Companies Wing for Dogoin.
This puts 21shares in the ring with gray and bitwise, both of which are waiting for the SEC approval of the DOGE -related products. It is worth noting that this development represents the first time that it has been seriously considered in the investment funds circulating in the United States.
Institutional demand meets the culture of M.
Dog’s price reaction was quickly, jumping from $ 0.14 to more than $ 0.16 inside the day, although he was cooled to about $ 0.154. The trading volume also increased from $ 1.38 billion, as traders and institutions alike speculated the possibilities of the fund’s approval, which is estimated at 64 %, according to Polymarket.
The deposit comes with the political wind. ELON Musk’s continuous support for DOGE, along with President Trump’s stop for 90 days, has helped to cause optimism across the risk markets. The Memecoin itself increased more than 12 % on the back of these developments, which increased the progress of the pioneer of the category.
Technical expectations: The resistance rally faces
Despite the bullish headlines, the Dogecoin chart shows signs of fatigue. The price procedure remains under the main resistance at $ 0.168, as EMA operates for 50 days as a consistent rejection zone. Paulinger’s ranges are pressed, indicating a possible outbreak, but the trend is still unclear.
The relative strength index sits above 40, indicating that Doge recovers from the conditions of sale, but it has not yet confirmed the power of momentum. Meanwhile, MACD is still in negative lands with an attempt to intersect a weak rise, hinting over the frequency between buyers.
DOGE is still less than SMA for 200 days ($ 0.257), a decisive threshold that must be recovered for any opposite direction. Until then, this can be just another height in a wider declining direction.
According to Glassnode, 50.8 % of Doge holders are still in profit – which is approximately the division that reflects the frequency in the market. This balance creates a fragile environment where any sharp step, either approved or rejecting ETF, can swing greatly.
The 3 -month -long Memecoin scheme also reveals a sharp decrease from a height of $ 0.48 in January. Dog has since lost nearly 70 % of its value, and while the ETF narration has revived the interests, technology and the market structure indicates caution.
Recently, the Dogecoin Foundation has officially released with a 10 -meter purchase. The purpose of the reserve is to serve as evidence of content and may convert memecoin into a reliable ecosystem.
