Dogecoin Surges 3.55% on ETF Speculation, Bullish Momentum Builds

Dogecoin's latest price was $0.1695, up 3.552% in the last 24 hours. This increase has been driven by renewed interest among traders, particularly due to speculation surrounding a potential spot Dogecoin exchange-traded fund (ETF). Bitwise recently submitted an amended S-1 filing for a DOGE ETF, which has sparked increased market speculation. Around 70% of traders now anticipate regulatory approval by the end of the year, leading to a noticeable uptick in long positions, with the DOGE long/short ratio climbing above 1, indicating that bullish traders are taking control of the momentum. The funding rate for Dogecoin futures also remains positive, confirming that long traders are paying premiums to maintain their bets, which signals increased confidence in a potential price rebound.

Technical patterns also support the bullish outlook. Dogecoin has created a double bottom formation on the weekly chart, which is generally considered an early take-off stance toward an eventual bearish reversal. Bulls have repeatedly defended the $0.142 support area, including in April 2025 and again this month. Should the price continue to hold, resistance is expected near $0.26. Surpassing this level could position the asset toward a potential target of $0.47. Additionally, the ADX is moving in a downward direction, indicating that the previous downtrend is weakening. This change aligns with the anticipation of a recovery. However, the values of the Relative Strength Index (RSI) are just below 50 points, and a breakout above that zone would reinforce the existence of an upward buying pressure and raise the chances of further continuation of the ongoing trend.

Dogecoin’s price movement has hovered near a critical resistance zone at $0.17, which has acted as both support and resistance in recent months. If the asset closes above this level, it may convert it into a support base. This scenario may support a price climb toward $0.21, a level where price consolidation occurred previously. Reclaiming $0.17 is key to unlocking further upward momentum. This resistance area has historically drawn strong selling activity and would need increased volume for a sustained breakout. Trading data also shows moderate activity, with 24-hour volume standing at $356.6 million. While the volume has dropped 37.59% in the past day, the price has still managed to rise. This indicates stable support from buyers at lower levels, helping maintain current price levels.

The TD Sequential indicator has issued a buy signal on the 3-day chart for Dogecoin. TD often signals potential trend reversals after extended downtrends or consolidation phases. The recent TD9 buy setup suggests that the market could be nearing a short-term bottom. Traders commonly use this signal as an early indicator for price reversals. If the buy signal holds and Dogecoin reclaims the $0.17 resistance, a move toward $0.21 may follow based on historical behavior. The signal’s presence on a higher timeframe like the 3-day chart often adds credibility for swing traders. Market participants are now watching for a sustained close above $0.17 to confirm the setup.

Dogecoin has spent the majority of the past five days trading within a tight range between $0.156 and $0.165. Notably, the meme coin is now showing early signs of stabilization after its steep correction earlier this month, with bulls beginning to reclaim ground after a drop below the $0.17 price barrier. Reclaiming the $0.17 level is important, according to technical analysis of Dogecoin’s price. This technical backdrop sets the stage for a projected price move to $0.21. Dogecoin’s 3-day candlestick timeframe chart shows that the meme coin is currently trading just above an ascending trendline that dates back to late 2023, which has acted as a key support level across multiple correction cycles. Despite the recent volatility, the price structure appears to be ready for a possible bounce move from here due to the formation of less volatile candlesticks and higher lows just above the 0.5 Fibonacci retracement level around $0.165.

Taking to the social media platform X, crypto analyst Ali Martinez revealed an interesting bullish signal taking place on the same 3-day candlestick timeframe. According to Martinez, Dogecoin has just triggered a buy signal on the 3-day TD Sequential indicator. This tool, which identifies trend exhaustion and possible reversals, has been quite useful in predicting buy and sell zones this cycle. However, the bullish outlook depends on Dogecoin reclaiming the $0.17 price level, which is now working as some sort of resistance. Martinez noted that a breakout above this price level could allow Dogecoin to rebound to $0.21. Notably, this $0.21 price target coincides with the 0.618 Fibonacci extension from Dogecoin’s October 2023 low. For Dogecoin to confirm a return to $0.21, market participation must return in a meaningful way. This is because Dogecoin’s trading volume has been notably low over the past few days. According to data from CoinMarketCap, Dogecoin’s 24-hour trading volume is currently at just $400 million, which is a 36.7% decrease from the previous day. This level of activity is significantly below Dogecoin’s usual trading volume during periods of upward momentum. Such a slowdown in volume suggests that, despite the bullish technical signal from the TD Sequential indicator, the necessary follow-through from buyers is yet to be confirmed.