- The Dogen course stabilizes at $ 0.18, since ETF applications heat up the upward moment and signal a short squeeze potential for an outbreak.
- Technical patterns, increasing open interest and the general mood also indicate DOGECOIN course increase.
The dog course stabilizes near $ 0.18, supported by a wave of ETF optimism. The course is stable above its 50-dayema, and the Market reacted positively with a weekly rise of 15%, and Doge is one of the top performers. Institutional demand drives interest.
As CNF reported, Nasdaq filed a 19b-4 form at the SEC on April 29 to write down the 21shares Spot Dogecoin ETF. 21Shares had previously submitted an S-1 form. The fund will map the CF Dogecoin dollar settlement Price Index and 21Shares will be a sponsor and manager, Coinbase Custody Trust will be the custodian and a company based in Maryland will become a trustee.
Three Doge ETFs from Grayscale, BitWise and 21shares are currently being examined by the SEC. Bloomberg analyst Eric Balchunas estimates the approval of 80 %. 21Shares has also received a partnership with the House of Doge, a branch of the Dogecoin Foundation.
The ETF narrative received new buoyancy from the change of management at the SEC. Paul Atkins, known for his cryptopositive attitude, has taken over the chair of the authority. This change is viewed as favorable for the entry of meme-based digital assets to traditional financial markets.
Onchain indicators and open interests support optimism
The open interest in Dogecoin derivatives rose by 2.17% to $ 1.85 billion. Loud Coinglass data have been liquidated in the last 24 hours of short positions worth $ 2.75 million, while long positions worth 722,000 were liquidated. This is a short squeeze.
Dogecoin is traded at $ 0.180, above the 50-dayema of $ 0.179. If he stays here, it could increase up to the 100-dayema of $ 0.204 and the 200-dayema of $ 0.218. The RSI is 57.63 above the center line.
As CNF reported, the Doge course forms an ABC correction pattern. Some experts believe that this correction has achieved an important support zone and speak of a “gold zone”, which indicates that the latest little upward trend by Doge could be the beginning of a larger outbreak phase.
Since the consolidation of the Dogecoin by $ 0.13 at the beginning of April, the course has increased 15% and recovered from its low of April 7th. The general mood has also changed. Santiment data show that the mention of the Dogecoin has increased in the discussions of social media. Traders do not consider doge to be more than pure Memecoin, but take it seriously, and conservative players also enter the market.
Technical prerequisites correspond to those of earlier outbreaks
According to the independent Analysts Kevin (@kev_capital_ta) reflects the Monthly Chart of Doge a similar dynamic as in previous cycles. In an update of May 1, Kevin emphasized that Doge closed April at $ 0.1795, which corresponds to an increase of 4.2 %. He emphasized that Doge defends the 0.382 Fibonacci retracement level at $ 0.1383 and the tip of a long-term falling wedge.
Kevin described this zone as “the line in the sand” and argued that the current price structure of Doge remains intact. His chart indicates a 1,618 Fibonacci extension at $ 3.94 as a potential goal, although he found that $ 1.80 is a more realistic maximum when Bitcoin increases significantly.
Its monthly RSI value of 51.3 reflects the level of December 2020, shortly before Douge increase of $ 0.11. Historical highs have increased the RSI to over 90. In the meantime, the super trend indicator has become positive, even if it is not yet vertical, which indicates that a trend forms, which has not yet been exhausted.
The long -term MACD turned into the positive area in February and continues to rise, which supports this assessment. The Stochastic RSI is 6.4/14.5, a configuration that has been observed in the past before strong price increases as soon as it exceeded the 20 mark.
Kevin also included macroeconomic factors in his Doge outlook. He found that the falling inflation and the expected interest reductions of the Federal Reserve could create favorable conditions for digital assets in the second half of 2025. He came to the conclusion that the course for Bitcoin and old coins is set and Doge is able to benefit from the expected liquidity cycle.
At the time of going to press, the Dogecoin course was stable at $ 0.179. As reported by CNF, the positive mood, technical strength and ETF-related momentum could support another upward movement and enable a rally of over 300 percent.
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