Dogecoin Leads Crypto Gains as DOGE ETF Launch SparksBullIsh

TLDR

Table of Contents

Dogecoin gained 16% this week, rising from $0.21 to nearly $0.27.
DOGE futures open interest rose to $4.59 billion, up 10% in days.
The Rex-Osprey DOGE ETF launches Friday for US retail and institutions.
Analyst says DOGE may double if it breaks resistance at $0.29.

Dogecoin is at the center of a renewed surge in the crypto market. The meme-based cryptocurrency has gained over 16% in the past week, driven by growing investor interest and market optimism. With the upcoming launch of the Rex-Osprey DOGE ETF on Friday, analysts believe Dogecoin could soon test the $0.50 mark if the bullish trend continues.

DOGE Price Moves Ahead of ETF Launch

Dogecoin has shown strong price momentum over the last few days. It is currently trading near $0.27, up nearly 20% from its low of $0.21 last week. Data from Coinglass shows that DOGE futures open interest has climbed 10% to $4.59 billion. This rise in open interest suggests that traders are positioning for continued upside.

The recent move follows the release of softer-than-expected U.S. Producer Price Index (PPI) data. The report eased inflation fears and increased expectations of a possible rate cut by the Federal Reserve in the next meeting. This shift has lifted investor sentiment across the crypto market, with major assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) also recording moderate gains.

Technical analysts are watching a bullish pennant formation in the DOGE chart. This pattern, if confirmed, could push prices beyond $0.29. A breakout past this level, supported by strong volumes, could open the door to further gains. According to analyst Ali Martinez, “If bulls can break above $0.29 with strength, DOGE could rise to $0.50.”

Rex-Osprey DOGE ETF to Begin Trading

The Rex-Osprey Dogecoin ETF is scheduled to launch on Friday, September 12. It will be the first DOGE-based exchange-traded fund to trade on a U.S. market. This new product will provide access to both retail and institutional investors looking to gain exposure to Dogecoin without holding the asset directly.

The ETF launch is part of a broader series of products being rolled out by Rex-Osprey. These include ETFs tied to Bitcoin, XRP, BONK, and a TRUMP-themed asset. All of these funds have cleared the U.S. Securities and Exchange Commission’s (SEC) 75-day review window, allowing them to move forward with trading.

The timing of these launches comes as the SEC appears to be softening its stance toward crypto-linked products. While past applications faced delays or rejections, the recent approvals show progress in regulatory acceptance. Market participants will be watching closely to see how these ETFs perform once they hit the market.

Market Eyes $0.50 as DOGE Holds Momentum

As DOGE builds support above $0.27, market attention is turning to the next key resistance near $0.29. A sustained move above this level could attract more buyers. The $0.29 mark has previously acted as a short-term ceiling for the asset.

Analysts believe that breaking through this resistance could set the stage for a 100% rally from current levels. “We could see DOGE doubling from here if momentum holds,” said Martinez, referencing growing interest ahead of the ETF.

The broader crypto market continues to show strength, backed by macroeconomic trends and rising ETF interest. With increasing trading volumes and strong open interest, Dogecoin’s role in leading this rally may continue if market conditions remain supportive. Traders are now closely watching ETF launch day as a possible catalyst for the next move.

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