Dogecoin faces “sell the news” after ETF launch | Credit: Hameem Sarwar
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Key Takeaways
Despite the launch of the DOGE ETF, the memecoin failed to break out.
Dogecoin’s price slipped below its 20-day EMA, signaling weakness.
Failure to clear resistance risks a deeper drop, leaving Dogecoin stuck.
Dogecoin (DOGE) price surged in recent weeks. It grabbed attention when the first U.S.-listed DOGE ETF launched on Sept. 18.
Optimism surged, but it hit a wall when the memecoin was rejected at $0.30 despite the positive news.
Dogecoin Fails to React
DOGE recently broke above its 20-day exponential moving average (EMA). Buyers pushed the price from around $0.22 toward $0.30.
Meanwhile, other moving averages (50-, 100-, 200-day) cluster below $0.22, forming a base of support. However, that has changed today as Dogecoin’s price has slipped below the 20 EMA (blue).
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This development comes after the recent launch of the ETF, indicating that the development was a “sell the news” event. Amid this, DOGE is confined in a symmetrical triangle, indicating indecision.
However, DOGE’s price has also met stiff resistance at $0.30, which acted as a ceiling multiple times in 2025.
Each attempt to clear $0.30 was followed by a pullback, as sellers have defended this zone heavily. Should this remain the same, Dogecoin might experience a pushback to support near $0.25 and $0.23.
For some holders, this might be surprising. Institutional interest increased with the ETF launch. Grayscale’s filing for a DOGE ETF and the REX-Osprey product created headlines.
However, recent performance has proved that hype alone isn’t enough, as resistance must be broken with momentum.
On-chain data shows that Dogecoin’s price might continue to trade sideways or experience a correction. According to Santiment data, whales have failed to intensify accumulation.
Hence, this makes it challenging for DOGE to break out. Should that remain the same, it might keep consolidating between $0.23 and $0.27.
DOGE Price Analysis
Looking at the daily chart, CCN observed that the Chaikin Money Flow (CMF) seems to have hit an overbought point.
Besides that, the Awesome Oscillator (AO) has flashed red histogram bars, indicating that momentum is switching from bullish to bearish.
Support levels near $0.23 and $0.25 now matter more than ever. If DOGE falls below that zone, sellers could gain control.
On the other hand, if DOGE’s price convincingly breaks above $0.30, it opens the door toward $0.33 or as high as $0.40.
A failed test at resistance would likely drag the price back toward $0.25 or lower. As volume and momentum cool slightly, many traders might need to weigh that risk heavily.
In conclusion, Dogecoin remains in a tug-of-war. The ETF launch adds strength, but $0.30 still blocks the way. Support zones hold for now, but bulls need more.
A breakout above $0.30 would shift the bias strongly upward. Without it, resistance prevails.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
