Dogecoin Heads Toward Crucial Support Level Amid ETF Approval Anticipation
Dogecoin (DOGE) faces a significant price dip but hints at a potential rally as ETF approval deadlines loom.
Currently valued at $0.2180, Dogecoin has seen a 24% slide from its July peak. Despite this downturn, strategic moves by major influencers and financial groups signal optimism for the future.
- Alex Spiro leads House of Doge, a $200 million initiative aiming to bolster DOGE.
- Companies like BitMine and SharpLink mirror this trend, hoarding Ethereum.
- GameStop, Metaplanet, and Strategy are acquiring substantial amounts of bitcoin.
The looming SEC decision dates for DOGE ETFs—Bitwise and Grayscale by October 18, 21Shares by January 9—fuel expectations. Polymarket data suggests an 80% chance of approval,which could boost the DOGE price significantly.
On the technical front, although DOGE has faced pressure recently, it’s hovering above critical levels. An upward trend could see it regain its July high of $0.2875, marking a 32% increase.However, slipping below these support lines could reverse the bullish projection.
This vital support-level test and ETF anticipation could drive a notable price recovery for Dogecoin over the next months.
