The move marks a 2% daily gain and extends its seven-day advance to more than 11%, lifting its market value above $36.7 billion.

The recovery has been dramatic compared to the lows of June, when DOGE traded nearly 72% lower. The latest surge comes as traders grow optimistic ahead of the first Dogecoin exchange-traded fund (ETF), with expectations that approval could open the door to significant inflows from traditional investors.

Derivatives and Spot Market Activity Fueling Rally

Momentum in derivatives has been particularly notable. Data from major analytics platforms shows open interest in Dogecoin futures climbing past $4.2 billion, its highest level in weeks, signaling fresh demand from traders. At the same time, liquidation volumes remain muted, suggesting that speculative longs are holding firm.

Spot market activity has also accelerated, with Dogecoin’s 24-hour trading volume topping $2.6 billion, eclipsing activity across rival meme-themed assets like Shiba Inu and Pepe. Analysts view this combination of higher futures positioning and robust spot flows as a bullish confirmation of investor confidence.

ETF Anticipation and Price Outlook

The centerpiece of Dogecoin’s current momentum is anticipation surrounding the U.S. launch of a Dogecoin ETF. The product, which would function in a similar way to other crypto-based ETFs already trading, is expected to broaden access to DOGE for institutional investors. Market watchers also believe more ETF approvals could follow before the end of the year, reinforcing the case for stronger inflows.

READ MORE:

Bitcoin DeFi Could Eclipse Ethereum, Says Cardano Founder

From a technical standpoint, Dogecoin has cleared both its 50-day and 200-day exponential moving averages and continues to trace higher highs and higher lows. Chart patterns suggest initial resistance near $0.2870, with a break above that potentially opening the way toward $0.48.

Can Dogecoin Reach $1?

The $1 threshold remains a psychological milestone for the Dogecoin community. For the token to reach that level, it would need to rally by over 300% from current prices. Analysts say that while such a leap is ambitious, it cannot be ruled out in the event of a sustained crypto bull market combined with strong ETF-driven demand.

For now, momentum is clearly on Dogecoin’s side. Whether that enthusiasm can ultimately translate into a run toward $1 may depend on how the Federal Reserve’s next policy move, the broader market cycle, and institutional appetite unfold in the months ahead.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

The post Can Dogecoin’s ETF Launch Spark the Next Big Meme Coin Rally? appeared first on Coindoo.