Dogecoin ETFs Show Lackluster Launch, Analysts Predict $1 If Support Holds

The launch of spot exchange-traded funds (ETFs) for Dogecoin in the US saw modest inflows, with Grayscale and Bitwise's ETFs attracting just over $2.16 million during their initial trading week, despite expectations for higher volumes.

Spot DOGE ETFs Off To A Slow Start

Grayscale's Spot DOGE fund (GDOG) launched on November 24 with a first-day trading volume of approximately $1.8 million.
This volume was below predictions, such as Bloomberg analyst Eric Balchunas's forecast of $12 million.
The cautious investor sentiment contrasts with the strong openings of other altcoin ETFs like Solana and XRP.

Technical Outlook Suggests Bullish Potential To $1

Crypto analyst Ali Martinez highlights key support at around $0.08, with resistance near $0.20, suggesting potential for a significant rally if support holds.
XForceGlobal sees a possible end to a long-term corrective phase, predicting a fifth wave that could push prices to between $0.33 and $0.50, with a longer-term target of $1.
Trader Tardigrade notes Dogecoin has returned to a historical support zone, previously leading to major rallies, projecting a potential 610% climb to $1 by 2026.

Currently, Dogecoin trades at $0.15, near a critical support level that could determine its next move.