Dogecoin ETF Launch and Supply Buyback Put DOGE on Track for 111% Price Run

TLDR:

• Dogecoin price rises 38.9% in seven days, crossing $0.30 for the first time since its 1-year downtrend.
• First Dogecoin ETF launches next week as market makers plan to buy up 5% of circulating supply.
• DOGE breaks out of a year-long descending triangle, signaling potential for a strong upside move.
• Traders eye $0.6533 as breakout target with over 111% upside from current levels, per JavonMarks.
  

---

Dogecoin is starting to heat up again. The market’s favorite memecoin just crossed back over the $0.30 mark, sending traders into alert mode. 

Social media chatter suggests this is only the beginning. Big catalysts are lining up in quick succession, and the charts have started to turn in bulls’ favor. Some analysts are calling this setup one of the most explosive Dogecoin has seen in a while.

According to price data from CoinGecko, DOGE is trading near $0.2975 after a 12.6% jump in the past 24 hours. Weekly gains are now approaching 39%, giving traders reason to pay attention. 

Daily trading volume has surged above $7.9 billion, pointing to rising activity across exchanges. Momentum is building just days before the launch of the first U.S.-listed Dogecoin ETF.

DOGE price on CoinGecko

Dogecoin ETF, Supply Buyback, and Price Setup

Trader and commentator Unipcs said many are underestimating how fast DOGE can move when conditions align. 

He compared the setup to XRP’s November rally when it gained nearly 500% in four weeks. He pointed to several converging drivers, including the ETF debut and active buying from Dogecoin Automated Traders (DATs) who committed to purchasing 5% of supply.

Technical signals are also supporting the move. Dogecoin just broke out of a year-long descending triangle, a pattern that often precedes strong upside runs. 

Unipcs added that Q4 is historically a favorable season for altcoins, with Ethereum, BNB, and Solana already near all-time highs. Traders believe this could be the perfect storm for DOGE to catch up.

Market analyst JavonMarks noted that Dogecoin’s breakout target remains at $0.6533, implying a potential 111% rally from current prices. 

He emphasized that DOGE’s return above $0.30 shows strong momentum and keeps the path toward the target in play. Traders following this setup see the move as a chance for Dogecoin to more than double in price if the rally continues.

Traders Eye $0.65 as DOGE Breakout Target

Momentum traders are preparing for the possibility of a sharp squeeze higher. With rate cuts expected next week, liquidity could flow back into risk assets. The ETF debut is expected to bring fresh institutional interest and higher visibility for the asset.

Dogecoin has historically posted large upside moves when volume spikes align with technical breakouts. If the current buying pace holds, DOGE could be positioned for its strongest move in over a year. 

Market watchers are now closely monitoring $0.35 as the next key level before a push toward the $0.50 range.

The post Dogecoin ETF Launch and Supply Buyback Put DOGE on Track for 111% Price Run appeared first on Blockonomi.