Dogecoin price today is trading near $0.28 after a sharp rally through the $0.27 resistance zone. The breakout above its year-long descending trendline has shifted sentiment bullish, with traders eyeing whether the upcoming U.S. Dogecoin ETF launch can propel DOGE above the psychological $0.30 barrier.
Dogecoin Price Breaks Out Of Compression
The daily chart shows DOGE resolving a multi-month symmetrical triangle with a decisive move higher. Price is holding above key moving averages, with the 20-day EMA at $0.24 and the 50-day EMA at $0.22 providing dynamic support.
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Momentum is stretched but supportive. The RSI is at 74, reflecting overbought conditions but also showing strong buyer conviction. The structure suggests that as long as DOGE holds above $0.27, momentum could carry toward $0.32 and $0.35 in the short term.
ETF Launch Sparks Optimism
Market focus has shifted sharply to the REX-Osprey Dogecoin ETF, set to debut in the U.S. this Thursday. Unlike traditional spot ETFs that require lengthy approval, the structure of this product allows a faster launch.
The news comes as the SEC also postponed a decision on Bitwise’s spot Dogecoin ETF application. Analysts note that delays are routine and should not be read as a rejection. With the U.S. set to host its first DOGE-based ETF, institutional exposure is expected to expand, a potential game-changer for liquidity and mainstream adoption.
On-Chain Flows Point To Profit-Taking
Exchange data reveals a $42.4 million net outflow on September 14, even as Dogecoin price climbed to $0.29. This suggests that some traders are taking profits into the rally rather than adding fresh capital.
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While netflows remain negative overall, the magnitude has narrowed compared to earlier in the year when daily outflows regularly exceeded $100 million. Analysts argue that as ETF-driven headlines approach, sustained inflows will be critical for confirming upside momentum.
Technical Outlook For Dogecoin Price
Immediate resistance sits at $0.30–$0.32, with a clean breakout opening the path to $0.35. Beyond this, the next major supply zone is near $0.40, a level last tested in early 2024.
On the downside, $0.27 has flipped into support, reinforced by the 20-day EMA. A breakdown here would expose $0.24, with deeper risks toward $0.22 if sellers regain control.
Outlook: Will Dogecoin Go Up?
Dogecoin price is at a critical juncture as the first U.S. DOGE ETF prepares for launch. The combination of a technical breakout, improving sentiment, and a landmark catalyst favors a bullish scenario.
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As long as DOGE holds above $0.27, the path of least resistance points higher, with $0.32–$0.35 as near-term targets. However, without strong inflows to match ETF optimism, the risk of another pullback remains. Traders are watching closely to see whether Thursday’s debut provides the decisive spark for Dogecoin’s next rally.
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