Dogecoin News Today: Dogecoin's $1 Hype Hinges on Wedge Break, ETF Push, and Trump-Backed Mining Expansion

Analysts are increasingly optimistic about Dogecoin's potential to reach the $1.00 psychological price level in the coming months, citing a combination of technical patterns, institutional interest, and fundamental developments that could drive the meme coin higher. Current price action on the DOGE/USD pair shows the asset consolidating within a secondary wedge pattern, a formation historically associated with significant upward moves. Technical analysts, including @cryptoWZRD_ and Trader Tardigrade, have noted similarities to prior bull cycles, particularly during the 2021 surge when Dogecoin saw unprecedented retail-driven demand. If the wedge pattern breaks to the upside, analysts project a potential move toward $1.00, aligned with key resistance levels that align with the pattern's target.

Support levels for Dogecoin are currently holding firm around $0.20, with traders monitoring the $0.21 zone as a critical pivot point. A breakdown below $0.20 could trigger further corrections, potentially testing the $0.18 level. Conversely, a sustained move above $0.21 could open the door to retesting resistance levels between $0.23 and $0.25, with a successful breakout potentially pushing the price toward $0.27 or even $0.30. The Relative Strength Index (RSI) has recently moved out of oversold territory, suggesting that momentum may be shifting in favor of continuation rather than further decline. The TD Sequential indicator also flashed a buy signal near $0.21, reinforcing the case for a potential rebound. Liquidity data from CoinGlass further supports this bullish thesis, with a positive liquidity delta indicating stronger demand for long positions.

In addition to technical indicators, Dogecoin is benefiting from growing institutional interest and fundamental developments that could enhance its long-term appeal. Thumzup, a publicly traded company backed by former U.S. President Donald Trump, has announced a $50 million capital raise to expand its Dogecoin mining operations, which could significantly boost the coin’s hash rate and long-term sustainability. The company also plans to acquire DogeHash Technologies to solidify its position as a leading North American Dogecoin miner. At current price levels, these operations could generate between $22 million and $103 million annually if Dogecoin reaches $1.00. Meanwhile, a $175 million Dogecoin treasury, led by Elon Musk’s personal attorney Alex Spiro, has been announced to further formalize DOGE as a mainstream digital asset.

The emergence of a potential Dogecoin ETF is another major catalyst. REX-Osprey, an asset management firm, has filed with the U.S. Securities and Exchange Commission (SEC) to launch the first Dogecoin ETF, which, if approved, could provide regulated exposure to the meme coin for institutional and retail investors alike. The filing, which is expected to be reviewed in the coming weeks, outlines a fund that would allocate at least 80% of its assets to Dogecoin or related instruments. This move reflects broader interest from major crypto firms, with applications from 21Shares, Bitwise, and Grayscale also in the pipeline. If approved, the ETF could act as a catalyst for further price appreciation by increasing institutional inflows and improving market depth.

DeFi activity has also surged in the broader crypto market, with total value locked (TVL) rising by 41% in the third quarter to exceed $160 billion for the first time since May 2022. Ethereum and Solana have led the charge, with Ethereum’s TVL jumping from $54 billion to $96.86 billion and Solana’s rising from $10 billion to $11.5 billion. Protocols such as Aave, Lido, and EigenLayer have seen significant inflows, with TVL growing by 58%, 77%, and 66%, respectively. This broader DeFi revival suggests a renewed appetite for on-chain yield strategies, which could further benefit Dogecoin as it integrates into DeFi platforms and payment solutions.

Despite the bullish technical setup and institutional interest, Dogecoin faces near-term risks. Whale selling pressure and weak Money Flow Index (MFI) readings suggest that short-term volatility could intensify. The MFI has dropped below 40, indicating a decline in buying momentum, while open interest in DOGE derivatives has fallen over 35% since July, signaling weaker speculative demand. These factors could prolong the consolidation phase or even trigger a deeper correction if buyers fail to step in. However, retail buying activity remains strong, with spot demand from smaller investors rising as they position for potential price appreciation.

As Dogecoin navigates these dynamics, the coming weeks will be crucial in determining whether the wedge pattern holds and whether institutional developments translate into stronger on-chain activity. If the $0.21 support level holds, the next phase of price action could see DOGE moving toward $0.30, aligning with broader market sentiment and DeFi momentum. However, any breakdown below key support levels could force a reevaluation of the bullish case, highlighting the high volatility and risk-reward balance inherent to the asset class. With multiple catalysts in play, Dogecoin remains one of the most closely watched assets in the cryptocurrency market.

Source:

[1] DOGE Coin Price Eyes Breakout: Secondary Wedge ... (https://thetradable.com/crypto/doge-coin-price-eyes-breakout-secondary-wedge-signals-rally-toward-1-ig--m)

[2] Dogecoin at $0.21 as $50M Mining Push Targets $1 but ... (https://bravenewcoin.com/insights/dogecoin-doge-price-prediction-dogecoin-at-0-21-as-50m-mining-push-targets-1-but-whale-sell-off-threatens-15-drop)

[3] Dogecoin Rebound Gains Momentum With 5-Wave Setup (https://thecurrencyanalytics.com/altcoins/dogecoin-rebound-gains-momentum-with-5-wave-setup-195102)

[4] First U.S. Dogecoin ETF? REX-Osprey Files ... (https://icobench.com/news/first-u-s-dogecoin-etf-rex-osprey-files-groundbreaking-sec-application/)

[5] DeFi TVL rose by 41% in the third quarter, reaching a three ... (https://www.bitget.com/news/detail/12560604949684)

[6] DeFi's total locked value (TVL) climbed by 41% in Q3, ... (https://www.mitrade.com/insights/news/live-news/article-3-1097018-20250905)