Dogecoin Price Surges 5% as DOGE ETF Nears Approval
Dogecoin price increased by 5%, surpassing the $0.25 mark for the first time in a month. The rise is attributed to the anticipated approval of a Dogecoin ETF, set to resume trading under the ticker DOJE.
- Bloomberg's Eric Balchunas indicated the ETF would start trading after a brief delay.
- The ETF launch is expected to attract institutional investors and increase market liquidity.
- Retail interest in Dogecoin is likely to grow due to increased corporate involvement.
- Derivatives markets show traders taking leveraged positions ahead of the ETF launch.
- Open interest rose 6.9% to $4.5 billion, with futures trading volume up 22.7%.
Dogecoin Price Outlook
- A breakout above $0.25 completes a double-bottom reversal pattern, targeting $0.39 long-term.
- Relative Strength Index (RSI) reached 63.1, indicating room for further growth.
- Sustained buying above $0.25 and breaking $0.28 could push prices to $0.30-$0.32 soon.
- If support at $0.24 fails, a retracement to $0.22 is possible.
Pepenode Presale Gains Attention
- The Dogecoin ETF has boosted interest in meme coins, including Pepenode.
- Pepenode presale raised $1 million, nearing its $1.1 million target.
- Investors can acquire meme nodes and earn staking rewards up to 2,863% APY.
