Dogecoin ETF Launch Postponed Again Amid Market Speculation
The highly anticipated Dogecoin ETF has faced another setback. Initially planned for last thursday, and later shifted to Friday, the ETF, backed by Rex-Osprey, is now set for mid-next week, possibly Thursday.
Eric Balchunas, a Bloomberg ETF analyst, shared the update via X: “Another delay. Expected mid-week launch,probably Thursday.” Despite the postponement,market observers speculate the company might be waiting for macroeconomic conditions to stabilize,possibly anticipating a Federal Reserve rate cut.
- A historic moment if launched, blending traditional finance with cryptocurrency.
- Over 90 crypto ETF applications remain pending with the SEC.
simultaneously occurring, the Bitwise dogecoin ETF’s approval is also under review. The SEC requested more time, reflecting ongoing scrutiny of crypto investments.
Despite the delays, Dogecoin has displayed extraordinary price performance. It broke through key resistance levels, reaching $0.26, a 20% increase over the week. Bulls have taken charge, pushing the price past the $0.24 barrier.
Technical analysis reveals a bullish trend. With the MACD indicating bullish momentum and the RSI near 67, the next target is $0.27. If it surpasses this level, it might head towards $0.30. Immediate support lies at $0.24, with stronger demand around $0.23.
