Dogecoin Drops 7% After Brief Rally Amid Rising Hopes of a DOGE ETF
Dogecoin DOGE experienced sharp swings over the past 24 hours, initially surging to 20 cents before falling to 19.1 cents, representing a 6.63% range.
The meme coin formed a V-shaped recovery pattern late in the session, climbing back to $0.192 with rising volume, though resistance remains firm around just above 20 cents.
Dogecoin's latest price action comes amid renewed interest in meme tokens following a series of crypto market shake-ups.
Speculation around a possible DOGE ETF has gained traction, with Polymarket data indicating a 51% chance of SEC approval in 2025 — a development that could inject institutional capital into the market.
Meanwhile, Dogecoin's integration with Coinbase's Base network is adding functional value, introducing wrapped DOGE into DeFi ecosystems for the first time on a large scale.
The meme coin's ability to draw high-volume support near key levels suggests that institutional buyers may be quietly building positions, even as retail traders remain cautious.
• DOGE surged from $0.196 to $0.204 (4.08%), then reversed sharply to $0.191 (6.63% range).
• Resistance confirmed at $0.203–$0.204 after three rejections on heavy volume (>1B units at 07:00).
• Support formed at $0.192, with brief rebounds from this level despite weakness.
• Final hour drop from $0.192 to $0.190 followed by a quick V-shaped recovery to $0.192.
• Accumulation signs emerged with volume increasing past 2.3M in final minutes.
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