Dogecoin News Today: Dogecoin's Bullish Breakout: Could an ETF Spark a New Era for the Meme Coin?

Dogecoin (DOGE) has experienced a 7% rise over the past 24 hours, trading above $0.23 as of the latest data. The surge is attributed to a bullish breakout confirmed by both price action and the relative strength index (RSI). Technical indicators show the price has moved beyond a descending trendline that had repeatedly repelled DOGE since mid-July, signaling a potential shift in market dynamics. Additionally, the RSI has also broken above its own trendline, reinforcing the strength behind the upward movement [2].

Analysts have noted that the breakout was further supported by a Kumo breakout in the Ichimoku Cloud. As of the close of the September 7 trading session, the cloud is acting as a support range between $0.215 and $0.227. With the price above this cloud, the mid-term trend appears to be favoring an upward trajectory. The next key price targets, according to market observers, are in the $0.241 to $0.288 range, depending on the strength of volume and momentum [2].

The rise in Dogecoin’s price coincides with heightened market anticipation of a potential U.S. launch of the Rex-Osprey DOGE ETF, tickered $DOJE. If approved, the ETF would provide U.S. investors with direct exposure to Dogecoin’s volatile price movements and would be the first such product in the U.S. market. The ETF is being supported by REX Shares and Osprey Funds, the same firms that launched a Solana staking ETF earlier this year. Market participants speculate that the launch of $DOJE could bring new speculative flows into the Dogecoin market, similar to what was observed with spot bitcoin and ether ETFs in 2024 [1].

The recent rise in Dogecoin’s price also follows broader market expectations of a potential Federal Reserve rate cut in response to a weaker-than-anticipated jobs report. The data showed a 33% miss on new payrolls and a slight increase in the unemployment rate. As a result, the probability of a 50-basis-point rate cut at the upcoming Fed meeting has risen to 10%, while a 25-basis-point cut is now considered near-certain. These developments have bolstered risk-on sentiment, with Dogecoin benefiting from increased demand for higher-risk assets [1].

Despite the technical optimism, some analysts caution that Dogecoin remains a speculative asset with limited utility beyond its cultural appeal. Its value is largely driven by social media influence, including posts from high-profile figures such as Elon Musk. As such, investors are advised to exercise caution and consider more established cryptocurrencies like Bitcoin or Ethereum for long-term exposure to the crypto market [1].

With Dogecoin trading at a weekly gain of nearly 15%, the market is closely watching for signs of sustained momentum. Key resistance levels at $0.241 and beyond are seen as critical in determining whether the current rally can consolidate into a broader uptrend. The coming days and weeks will be crucial in assessing the strength of buyer participation and whether the price can maintain its position above the Ichimoku cloud for continued bullish support [2].

Source:

[1] Why Is Dogecoin Soaring Today? (https://www.fool.com/investing/2025/09/08/why-is-dogecoin-soaring-today/)

[2] DOGE Surges 7% Daily as Analysts See Signs of ... (https://cryptopotato.com/doge-surges-7-daily-as-analysts-see-signs-of-explosive-rally/)