- Nasdaq filed to list 21Shares Dogecoin ETF, increasing speculation as SEC decision on Bitwise ETF remains pending.
- Analysts cite cup and handle, accumulation patterns with targets up to $5, following 100M DOGE whale purchase.
- DOGE trades below key averages with low activity, but renewed interest and volume support possible breakout scenarios.
Dogecoin has had increased market attention following a recent ETF filing that could impact price action in the coming months. On Tuesday, Nasdaq submitted a 19b-4 form to the U.S. Securities and Exchange Commission seeking approval to list the 21Shares Dogecoin ETF.
The application followed an S-1 registration submitted earlier by asset manager 21Shares in partnership with the House of Doge. The fund is structured to follow the CF DOGE-Dollar US Settlement Price Index, adjusted for liabilities and expenses.
Coinbase Custody Trust has been appointed as the custodian of the fund’s DOGE holdings. While the SEC postponed its decision on a similar ETF by Bitwise until June 15, speculation continues to grow around potential price movements.
Whale Activity and Pattern Outlook
Whale accumulation has increased, according to analyst Ali, who confirmed a purchase of 100 million DOGE over the past week. This aligns with Crypto Elites’ outlook that DOGE is preparing for a large breakout.
Crypto Elites notes a cup and handle pattern with multiple targets laid out at $0.75, $1.50, $2.71773, and $5. The identified bottom is at $0.17526, and the setup points to a potential upside if confirmed.
Another analyst, Crypto Bullet, suggested that DOGE is printing an accumulation cylinder pattern. Based on this structure, the price may see a major price move in the coming months. While the catalyst remains unclear, Crypto Bullet referenced Bitcoin dominance peaking, which could contribute to a pump.
Source: Crypto Bullet
Trade Tardigrade added that DOGE recently bounced off a previous swing high. The analyst stated this pattern suggests the recent pullback might be complete, with an upward move potentially ahead.
Technical Setup and Entry Zones
Cryptokijker shared a detailed DOGE setup on TradingView, showing a long opportunity above $0.1790. The entry zone is between $0.1790 and $0.1795, with a stop loss at $0.1760. Price targets are at $0.1840 and $0.1920.
According to the post, a hidden bullish divergence appeared on the RSI, with strong support shown at $0.1760. Volume also shows accumulation between $0.15 and $0.16. The confidence level for this setup is rated 7.5/10.
The analyst emphasized that a structure break has started a markup phase. Volume further supports this accumulation to expansion shift. Momentum continues to build above the previous day’s low, with smart money active at discounted price levels.
Historical Trends and Current Consolidation Range
From early November 2024, DOGE surged sharply to near $0.476 as user activity peaked past 1.6 million addresses. However, this was followed by a long downtrend, with lower highs and lower lows shaping a bearish outlook.
Source: Santiment
On April 1, 2025, at the time of publication, DOGE was trading at $0.173 as active addresses dropped to about 67,300. This shift is a notable decline in network activity. The 50 day moving average has trended downward since December and remains below the 200 day average, forming a death cross.
The 200 day average itself has continued its decline since peaking last December. DOGE now trades below both averages, entering a consolidation phase with limited user engagement. However, historical volatility and renewed institutional interest are keeping DOGE in focus.
