Dogecoin Price Jumps 6.9% Amid ETF Filing and Market Recovery

The price of Dogecoin (DOGE) increased by 6.9% in the last 24 hours, reaching $0.16. This rise coincided with US President Donald Trump's announcement of a 90-day delay in tariff implementation and 21Shares filing for a Dogecoin ETF with the SEC.

Current Market Analysis

DOGE is up nearly 7%, but struggles to surpass key resistance at $0.16.
Year-to-date, DOGE has declined over 54%.
Transaction counts dropped from 374,700 in mid-March to 20,793, a 94% decrease, indicating waning investor interest.
Whale investors have sold 1.32 billion DOGE recently, signaling potential market weakness.

DOGE Transaction Count / Source: Santiment

ETF Development

21Shares submitted an S-1 registration for a spot Dogecoin ETF on April 9.
The ETF aims to track DOGE's performance using the CF DOGE-Dollar US Settlement Price Index.
Coinbase Custody is proposed as the custodian for the fund.
The ETF will hold actual DOGE without utilizing leverage or derivatives.
Chances of imminent approval appear low, despite renewed discussions following the appointment of Paul Atkins as SEC chair.