Dogecoin (DOGE) is drawing fresh attention as it hovers near the $0.21 level, supported by heightened trading volumes and rising market participation. The DOGE price over the last 24 hours is up by 1%, and over the last week it has been showing stability.
At the time of writing, DOGE is trading at $0.2160 with a 24-hour trading volume of $2.4 billion, up by 61.5% over the last 24 hours. The coin has a market capitalization of $32.57 billion, which is showing stability.
Source: CoinMarketCap
The general market trend is turning from a neutral phase to a bullish phase as BTC is struggling to maintain its upward momentum. This movement has urged the altcoins to catch a bullish wave.
According to the crypto analyst, the American crypto investment landscape could see a historic milestone. Financial services firm REX Shares, renowned for inventing new exchange-traded products, is reportedly set to unveil the nation’s first-ever Dogecoin ETF next week.
Source: X
The approval of the ETF will provide retail investors direct access to Dogecoin (DOGE) from conventional brokerage sites without the need to create crypto wallets or engage with exchanges.
The innovation will also create a significant landmark for the legitimization of the meme-based currency, which will become a multi-billion-dollar digital currency with significant worldwide community backing.
Also Read: Dogecoin Faces Breakdown: $0.17488 Next if Support Breaks
Dogecoin (DOGE) is showing mixed signals on technical indicators as the price oscillates near a primary support level. The Relative Strength Index (RSI) at 50.43 indicates neutral momentum without dominance by either the sellers or buyers.
The MACD is weakly bullish, as the MACD line is above the signal line at 0.00386, indicating slight upward momentum but not yet confirming a significant breakout.
Source: TradingView
The coin continues to hold the $0.20–$0.21 support range, which has served as a floor during recent corrections. Resistance, on the other hand, is still solidly at $0.30, a level that capped various rallies in previous sessions.
A breakout above it may create room for a rise toward $0.40–$0.50, but a drop below the $0.20 base may send the price down toward $0.15.
The derivatives activity has strengthened, as volume rose by 33.83% to $4.65 billion. The open interest (OI) is also up by 2.70% to $3.38 billion, reflecting fresh positions in the derivatives market. Both rising volume and OI confirm more conviction and the potential for larger swings.
Source: Coinglass
The OI-weighted funding rate is at 0.0097%, signifying balanced market positioning but with marginal bullish inclination. The low but favorable value decreases the likelihood of liquidation spikes, keeping DOGE in a secure setup as traders expect movements beyond current support and resistance levels.
Source: Coinglass
Also Read: DOGE Price Prediction: Is $1.40 the Next Big Breakout?
Also read: XRP Price Prediction: Analyst Projects XRP at $473K if 10% of Global Assets Are Tokenized by 2030
