Dogecoin (DOGE) Price: Bull Flag Breakout Coincides with Rex-Osprey ETF Launching This Week

TLDR

• The Rex-Osprey Doge ETF (DOJE) will begin trading on Thursday, marking the first US memecoin ETF launch
• Dogecoin rallied nearly 13% over the past week ahead of the ETF approval announcement
• Technical analysis shows a bull flag pattern formation that could drive DOGE toward $0.95
• The ETF operates under the Investment Company Act of 1940, a different framework than typical crypto ETFs
• 92 other crypto ETF proposals are currently in the SEC pipeline, including Solana and XRP funds

The United States is about to witness the launch of its first memecoin exchange-traded fund on Thursday. Bloomberg ETF analyst Eric Balchunas announced that the Rex-Osprey Doge ETF (DOJE) is set to debut.

Balchunas described this as potentially the first US ETF to hold an asset with no utility or purpose. The analyst hinted at the potential launch last week under a different regulatory framework.

The ETF operates under the Investment Company Act of 1940. This differs from the Securities Act of 1933, which typically governs grantor trusts holding physical commodities or derivatives.

Dogecoin has rallied ahead of the approval news. The memecoin climbed nearly 13% over the past week according to CoinMarketCap data.

The original memecoin has been trading for over a decade. It has built a large investor community and inspired countless imitators throughout crypto culture.

Today, Dogecoin boasts a market capitalization of $36 billion. Its inclusion in an ETF highlights growing institutional interest in memecoins.

The approval comes as regulators review dozens of other crypto-focused exchange-traded products. These span assets from Dogecoin to Solana and XRP.

Bloomberg ETF analyst James Seyffart noted that 92 such proposals are currently in the pipeline. The SEC is weighing these various crypto ETF applications.

Technical Analysis Points Higher

Technical analysis reveals promising patterns for Dogecoin’s price action. Trader @TATrader_Alan has identified a bull flag formation on the 3-week chart.

This continuation pattern typically precedes major rallies. DOGE has broken through flag resistance, suggesting the path toward $0.95 appears increasingly likely.

The chart shows three clear flagpole-and-flag formations. Each pattern featured sharp rallies followed by deep corrections before clean breakouts.

DOGE has now completed its latest consolidation phase. The breakout above the descending channel signals renewed buyer control.

Critical support levels sit at $0.20 and $0.18. Resistance at $0.30 and $0.37 must be cleared to reach the $0.95 target.

ETF Market Expansion

The first wave of crypto ETFs focused on Bitcoin and Ether. The launch of spot Bitcoin ETFs in early 2024 drew tens of billions of dollars in inflows.

These Bitcoin funds ranked among the most successful ETF rollouts on record. After a slow start, demand for Ether funds has also increased this year.

The anticipated wave of new crypto ETFs follows a shift in SEC approach under President Donald Trump. The agency has signaled support for tokenization as financial innovation.

The SEC has also clarified that certain liquid-staking activities fall outside securities laws scope. This regulatory clarity has paved the way for more diverse crypto products.

The Rex-Osprey Doge ETF represents a new frontier in regulated crypto investing. It brings memecoin exposure to traditional investment channels for the first time.

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