Grayscale Files S-1 for Dogecoin ETF Amid Potential DOGE Price Rally

Dogecoin's cryptocurrency DOGE is gaining attention due to developments around a potential Dogecoin ETF.

Key Points:

DOGE price recently fell by 9.8% over the week, currently trading at $0.2640, with a daily volume drop of 30% to $2.6 billion.
Grayscale has submitted an S-1 filing to convert its Dogecoin Trust into a spot ETF, potentially listing on NYSE Arca under ticker GDOG if approved.
Technical analysis shows DOGE forming a descending triangle pattern, suggesting a possible breakout and rally to $0.38.
The weekly chart indicates DOGE may break above the Ichimoku cloud, historically leading to major rallies.
The launch of another DOGE ETF, Rex-Osprey (DOJE), is boosting market sentiment, with SEC approval anticipated soon.

These developments signal potential gains for DOGE if the ETF conversions are successful and technical patterns lead to anticipated breakouts.