21Shares launched its Dogecoin exchange-traded product (ETP) on Thursday, January 22, providing investors with regulated, physically backed exposure to DOGE through traditional financial markets.
Trading under the ticker TDOG, the product is the only Dogecoin ETP endorsed by the Dogecoin Foundation, enabling market participants to access the asset without directly holding or managing the token within established global market infrastructure.
According to 21Shares, Dogecoin reflects internet culture while continuing to evolve into a practical digital currency. The firm highlighted DOGE’s role in onboarding new crypto users, citing its fast transaction speeds, low fees, and active global community.
These characteristics position Dogecoin as one of the few digital assets with potential real-world payment utility as the global economy becomes increasingly digital.
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Despite the institutional milestone, DOGE’s price action remains under pressure in the short term. Crypto analyst Trader Tardigrade on Monday, January 26, noted that DOGE’s weekly chart is displaying a familiar structure, with the depth, duration, and formation of the current pullback closely resembling a previous correction phase.
In the previous cycle, the asset corrected for a few weeks before resuming its upward trend again. As per the outlook provided by the Trader Tardigrade, this is a similar pattern that might imply the trend is a historical fractal rather than a breakdown in the broader trend, provided that the weekly levels of the coin hold as supports.
Source: Trader Tardigrade X Post
If this pattern of a repeating setup is correct, DOGE could already have finished its corrective phase and be preparing for new upward momentum. If the weekly levels hold, the case for Dogecoin is stronger, and the next big target for the token is expected in the $0.64 area, as the highs and resistance levels converge on the weekly chart.
According to TradingView data as of Monday, January 26, DOGE is still in a broader downtrend. The price remains below the 20, 50, 100, and 200-period exponential moving averages, which are bearish and sloping lower. A sharp break lower from around January 19 resulted in a loss of structure, a weak consolidation, and then a break lower to the $0.118 level.
Source: TradingView
The Relative Strength Index (RSI) is currently close to the 40 level, showing a lack of momentum. However, it still remains above the oversold level. On the other hand, the MACD indicator remains below zero. However, for a bullish trend to be established, DOGE will require a strong recovery in the RSI, which should go past 50, along with a strong crossover for the MACD.
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