Dogecoin Slumps 3% Despite 21Shares’ Spot ETF Listing on DTCC

The Dogecoin price dropped 3% in the last 24 hours to trade at $0.2456, on a 45% surge in the daily trading volume to $4.82 billion.

The drop in DOGE price comes as 21Shares’ proposed spot Dogecoin ETF (ticker: TDOG) appeared on the DTCC website, sparking investor excitement but also highlighting ongoing regulatory uncertainty. While the listing is an early procedural step toward launch, it does not signal SEC approval, as the regulator is still reviewing the application.

The ETF, which would hold Dogecoin directly with Coinbase Custody serving as custodian, follows the first U.S.-listed Dogecoin ETF from REX-Osprey—evidence of growing institutional interest in meme coins.

However, the SEC has maintained a cautious stance, delaying reviews for several DOGE ETF applications. Bitwise’s application, for example, was pushed back to November 12, 2025, with final rulings potentially stretching into 2026. This regulatory overhang has weighed on sentiment, contributing to DOGE’s price decline despite the ETF progress.

Dogecoin On Chain Shows Signs of Stability

Dogecoin spot market activity shows a steady inflow and outflow trend, with prices consolidating around the $0.25–$0.30 range. According to data from Coinglass, DOGE’s price has gradually stabilized after recent volatility that pushed it near the $0.20 level. The chart indicates reduced selling pressure compared to earlier dips, hinting at growing market resilience.

Doge Spot Inflow/Outflow: CoinGlass

Traders are closely watching whether accumulation could trigger a bullish breakout. With Dogecoin maintaining support above $0.20, analysts suggest the memecoin could soon test higher resistance levels if inflows continue to outweigh outflows in the coming sessions.

Dogecoin Price Analysis: DOGE Holds $0.24, Possible Push to $0.30

Dogecoin (DOGE) is trading around $0.24 today after pulling back from $0.30 earlier this month. The chart shows the price is now moving sideways near a key support area, with traders watching for the next move.

Earlier this year, DOGE fell sharply, forming a bearish channel before finding a strong base between $0.12 and $0.15. This support zone helped stop the decline, and from there, DOGE recovered, moving back into the $0.20 to $0.30 range.

At the moment, $0.20 is acting as an important “buy zone.” If Dogecoin holds above this level, buyers could step in and drive the price higher. A successful rebound could push DOGE back to $0.30, which is the current resistance level. Breaking above $0.30 would likely bring more momentum, with the next targets near $0.35 and possibly $0.40.

DOGEUSDT Analysis Source: Tradingview

On the other hand, if the $0.20 support fails, DOGE could lose strength and drop back toward the $0.15 zone, where it spent weeks consolidating earlier in the year.

The Relative Strength Index (RSI) is sitting around 61 on the daily chart. This suggests the market is neither overbought nor oversold, but buyers still have a slight edge.

In short, Dogecoin is at a key point. Holding above $0.20 could prepare the ground for another rally toward $0.30 and beyond. But if bears push it lower, the token could fall back to the earlier consolidation area. Traders will be watching the $0.20 level closely to see which way the trend develops.