Dogecoin ETF News: U.S. Listing Soon, But DOGE Technicals Draw Bearish Picture For Now
Despite optimism for a near-term U.S. Dogecoin ETF launch, DOGE's price action is bearish due to heavy whale distribution and weak technical indicators.Summary
Bitwise Asset Management anticipates its spot Dogecoin ETF could launch within 20 days under the Section 8(a) automatic-approval rule, mirroring recent ETF debuts for SOL, LTC, and HBAR, which has generated broader market optimism. However, this positive narrative is currently overshadowed by DOGE's price action, as on-chain data reveals significant distribution, with whale wallets moving over $440 million worth of DOGE in the past 72 hours.
DOGE fell 2.4% to $0.1634, breaking key support at $0.167. Technical analysis shows a breakdown-and-retest pattern confirming short-term bearish control, despite mixed momentum indicators like a recovering RSI. Speculative appetite remains subdued, evidenced by declining futures open interest and negative funding rates on Binance.
Traders are now watching if DOGE can defend support between $0.1575 and $0.1615. While the ETF countdown could spur volatility, technicians suggest sustained upside requires a close above $0.1674, targeting $0.172–$0.180. Failure to hold support risks a drop toward the $0.15 psychological zone.
(Source：CoinDesk)