- Dogecoin jumped 5.8% to $0.261 following anticipation of the first U.S. Dogecoin ETF launch.
- More than 280 million DOGE were accumulated by large holders as trading volume surpassed 1.1 billion.
- The token reached an intraday high of $0.264 before pulling back slightly but maintained support at $0.260.
- Analysts identified bullish trading patterns with potential price targets up to $0.50 if momentum continues.
- Traders are watching if DOGE can hold above $0.26 and test higher resistance near $0.29 with ETF trading set to begin on September 12.
Dogecoin registered a nearly 6% gain over the past 24 hours, coinciding with traders positioning ahead of the debut of the first U.S. Dogecoin exchange-traded fund (ETF) on September 11 – as per Bloomberg analyst Eric Balchunas.
The “DOJE” product is scheduled to begin trading on September 12 in the U.S., and heavy trading activity has followed in anticipation.
In the last day, DOGE surged from $0.246 to $0.261, with trading volume exceeding 1.1 billion tokens – almost triple the usual levels. During this time, large holders, often called “whales,” accumulated more than 280 million DOGE, signaling interest from bigger investors.
Market observers noted a breakout above the $0.253 resistance level late in the trading session, as DOGE peaked at $0.264 before a modest pullback to $0.261.
Support held firm at the $0.260 level even after several retests in the final hour of trade. Analysts reported, “A bullish pennant breakout on short-term charts points to higher price targets if the trend continues.”
Technical analysis showed that DOGE established a solid support area at $0.245 to $0.246, with analysts pointing to the next upside resistance at $0.29 and longer-term targets up to $0.50 if trading momentum holds. The elevated volume and whale accumulation were attributed to institutional flows ahead of the ETF debut.
Traders are now focused on whether DOGE can maintain closing prices above $0.26 and push toward higher resistance zones. They are also watching options activity near the $0.30 strike price, which could introduce additional price volatility as expiry dates approach.
The ETF launch is expected to spur continued interest, with market participants monitoring secondary trading flows from brokers and institutional investors once trading begins.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- ModStealer Malware Evades Detection, Targets Crypto Wallets
- Albania Appoints AI Bot “Diella” as Cabinet Minister to Fight Corruption
- Chainlink (LINK) Eyes $30 as Whale Activity Surges, Bullish Trend
- Dogecoin Surges 20% as Treasury Buys $125M, ETF Launches Friday
- XRP Eyes $250B Market Cap as SEC Lawsuit Ends, ETF Hopes Rise
