Dogecoin (DOGE) Price: Third ETF Approval Drives Trading Volume Surge

TLDR

• 21Shares filed with the US SEC to launch its spot Dogecoin ETF under ticker TDOG on Nasdaq
• The 21Shares Dogecoin ETF will be the third spot DOGE ETF following Grayscale’s GDOG and Bitwise’s BWOW
• Management fee is set at 0.50% with The Bank of New York Mellon as administrator and Coinbase Custody Trust, Anchorage Digital Bank, and BitGo as custodians
• DOGE price jumped over 1% in the last 24 hours to $0.140 with trading volume increasing 111%
• Technical analysis shows a potential Head and Shoulders pattern forming on the 4-hour chart with the neckline at $0.13978

21Shares has submitted its final prospectus to the US Securities and Exchange Commission to launch its spot Dogecoin ETF. The filing marks the company’s entry into the meme coin ETF market.

The Dogecoin ETF received approval to list on Nasdaq under the ticker TDOG. Trading is expected to begin this week.

This represents the third spot Dogecoin ETF to reach the market. Grayscale launched its Dogecoin ETF under ticker GDOG in November. Bitwise followed with its BWOW product during the same period.

The management fee for the 21Shares Dogecoin ETF stands at 0.50%. The fee will accrue daily and be payable in DOGE on a weekly basis. The company has not announced any fee waiver at this time.

The ETF will track spot DOGE price movements. It uses the CF Dogecoin-Dollar US Settlement Price Index as its benchmark.

The Bank of New York Mellon will serve as administrator, cash custodian and transfer agent. Coinbase Custody Trust, Anchorage Digital Bank, and BitGo have been selected as custodians for the product.

Price Movement and Trading Activity

DOGE price increased more than 1% over the last 24 hours. The cryptocurrency currently trades at $0.140.

The 24-hour low reached $0.135 while the high touched $0.142. Trading volume climbed 111% during this period.

The price is holding above the 50-day moving average at $0.138. The Relative Strength Index sits at 52.96.

Total DOGE futures open interest rose 0.01% to $1.80 billion in the last four hours. Binance and OKX saw increases of 0.05% and 4.20% respectively. Bybit recorded a 1% decline while Gate dropped almost 3%.

Technical Patterns Emerge

Trader Tardigrade identified a potential Head and Shoulders pattern on Dogecoin’s 4-hour chart. This pattern typically signals a possible trend reversal.

The neckline sits around $0.13978. This level previously acted as key support for the cryptocurrency.

The MACD line crossed below the signal line indicating a bearish crossover. The histogram moved into negative territory.

The Chaikin Money Flow dropped to -0.14. This reading reflects net selling pressure in the market.

Recent trading shows the price moving between $0.139 and $0.143. A pullback occurred near the end of the most recent session. The price briefly moved toward the lower support zone around $0.139 before recovering to $0.140.

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