Dogecoin (DOGE) Price: First Ever DOGE ETF Set to Launch as DOGE Eyes Triangle Breakout

TLDR

• REX Shares filed an effective prospectus with the SEC for the first Dogecoin ETF, which could launch next week using the 40 Act regulatory pathway
• Dogecoin currently trades at $0.2129, down 54% from its December 2024 high of $0.4672 but up 116.67% over the past year
• The REX Osprey Dogecoin ETF would allocate 80% of its holdings to DOGE-linked assets like futures and swaps
• Other companies including 21Shares, Bitwise, and Grayscale have also filed traditional Dogecoin ETF applications with the SEC
• Dogecoin shows technical patterns including a rounding bottom structure and triangle consolidation on price charts

REX Shares has filed an effective prospectus with the US Securities and Exchange Commission for what could become the first Dogecoin exchange-traded fund. Bloomberg analyst Eric Balchunas stated the ETF could launch as early as next week.

The filing uses the 40 Act regulatory pathway rather than the traditional Form S-1 and Form 19b-4 route. ETF Store president Nate Geraci previously described this 40 Act strategy as “a regulatory end-around.”

REX Shares successfully used this same approach to launch its Solana staking ETF. The company is now applying the strategy to Dogecoin.

Dogecoin currently trades at $0.2129 at the time of publication. The token has declined 54% from its 2024 peak of $0.4672 reached in December.

Despite the recent drop, Dogecoin has gained 116.67% over the past year according to CoinMarketCap data. The token shows a modest daily decline of just over 3%.

Technical Analysis Shows Constructive Patterns

Market analysts point to a large rounding bottom structure forming on Dogecoin’s price chart. This pattern typically signals renewed strength after extended consolidation periods.

The daily chart displays a symmetrical triangle with tightening price action. Support at $0.18 has held firm during recent weeks of trading.

Key resistance sits at the 0.236 Fibonacci retracement level of $0.221. Upside targets extend to $0.27, $0.31, and $0.38 if a breakout occurs.

Extended price projections reach $0.54 should the triangle pattern confirm with volume. The technical setup provides a foundation for potential higher levels.

ETF Structure and Competition

The REX Osprey Dogecoin ETF would allocate 80% of its holdings to DOGE-linked assets. These include futures contracts and swap agreements that track Dogecoin’s price movement.

The remaining 20% consists of Treasuries and cash equivalents for liquidity management. This structure enables comprehensive Dogecoin exposure while maintaining operational stability.

REX Shares is not alone in pursuing Dogecoin ETF approval. On April 10, 21Shares submitted a filing for a Dogecoin ETF through traditional regulatory channels.

Bitwise and Grayscale have also filed similar applications with the SEC. These companies await decisions through the standard approval process.

REX has additionally filed for an ETF tracking OFFICIAL TRUMP token under the 40 Act. This fund would purchase shares in an offshore company holding the token.

Mainstream Recognition Continues

Dogecoin maintains widespread recognition beyond cryptocurrency circles. Billionaire Elon Musk has long supported the token, calling himself the “Dogefather.”

Musk referred to Dogecoin as “a hustle” during a 2021 Saturday Night Live appearance. His comments generated substantial market attention and price movement.

Recent reports indicate Musk’s attorney Alex Spiro chairs a new public company. The entity seeks to raise $200 million for Dogecoin investments according to Fortune.

The ETF filing represents a step toward institutional adoption. Regulatory approval could bring traditional financial firms into the Dogecoin market.

Professional investors have historically avoided direct cryptocurrency purchases due to custody concerns. An ETF structure removes these barriers while providing regulated exposure.

REX Shares filed the effective prospectus this week, setting the stage for potential launch approval.

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