Dogecoin Price Climbs 1.2% As Bitwise Eyes Imminent DOGE ETF Launch

The Dogecoin price climbed 1.2% over the past 24 hours to trade at $0.16 as of 02:31 a.m. EST on trading volume that edged up to $1.92 billion.

This comes as Bitwise Asset Management files an 8(a) form with the SEC, paving the way for its spot Dogecoin ETF (BWOW) to launch as early as November 26.

The filing removes a delaying amendment, triggering a 20-day automatic effectiveness period under the 1933 Securities Act.

The fund will track Dogecoin’s spot price via the CF Dogecoin-Dollar Settlement Price, with Coinbase Custody holding assets and BNY Mellon managing cash. It carries a 0.34% fee and supports in-kind creations/redemptions. Bitwise seeded the ETF with $2.5 million.

Bloomberg analyst Eric Balchunas called the move “aggressive,” signaling confidence amid an SEC inaction window due to the ongoing government shutdown.

It will compete for investors with the REX-Osprey DOGE ETF (DOJE), with Grayscale among other fund managers planning to launch a DOGE ETF.

DOGE Price Holds Support Amid Bearish Indicators

The DOGE price has been in a corrective phase since mid-October, trading within a descending channel pattern that continues to cap upside potential. 

After peaking near $0.19 earlier in the month, the Dogecoin token price entered a retracement, now hovering near $0.16. This level sits within a support pocket between $0.160 and $0.149, aligning with the 1.0 Fibonacci level at $0.1493 and the 0.786 retracement at $0.1829.

The 50-day Simple Moving Average (MA) stands at $0.2135, just above the 200-day SMA at $0.2095, forming a tight confluence zone of resistance at $0.209–$0.213 that has repeatedly rejected rallies. 

Meanwhile, the Relative Strength Index (RSI) is trading around 35.62, indicating weak momentum with room to mean-revert but not yet oversold conditions. 

The Moving Average Convergence Divergence (MACD) sits below zero at -0.0014, confirming short-term bearish trend, though the histogram is flattening with shrinking red bars, suggesting decelerating downside pressure.

DOGE/USD Chart Analysis Source: GeckoTerminal 

Dogecoin Token Price Prediction: Bounce Targets Resistance Ceiling 

Based on the current DOGE/USD chart analysis, the price remains trapped within a well-defined descending channel. 

The immediate resistance lies near $0.178–$0.183, right at the 0.786 Fibonacci line, which rejected advances through October and early November. 

If bulls manage to push the price of DOGE above $0.183 on a sustained four-hour close, it could signal a short-term recovery toward $0.20, then the confluence at $0.209–$0.213 from the 50-day and 200-day SMAs, where rising volume on breakout would confirm bullish continuation. 

However, failure to hold the support pocket near $0.160 could expose the DOGE price to further downside, with the next support likely forming around $0.149. A daily close under $0.149 hands control to sellers and exposes the mid-$0.14s, with the 1.618 extension at $0.0521 as tail risk. 

If ETF headlines escalate, a quick short squeeze could follow, putting the 0.5 retracement near $0.2279 in view, with extensions toward $0.2464 and $0.2694 if momentum accelerates. 

A push through $0.213 will invite FOMO and fast bids into deeper resistance, potentially testing the all-time high near $0.74 on parabolic institutional adoption.