Dogecoin could be about to step into a new chapter. Bloomberg analyst Eric Balchunas revealed that a U.S.-listed Dogecoin exchange-traded fund is set to debut on September 11, making it the first ETF to deliberately hold a meme coin.
While structured differently from Bitcoin and Ethereum’s spot products, the move is already being hailed as a milestone for bringing meme coins into mainstream finance.
Market Moves Ahead of the Launch
The anticipation is rippling across trading desks. Over the past week, on-chain trackers show that large holders have scooped up nearly 280 million DOGE, adding weight to the bullish case. Analysts suggest this quiet accumulation explains the steady trend of higher lows forming on Dogecoin’s chart since mid-summer.
At the time of writing, DOGE changes hands around $0.24. Investors are watching closely as the coin approaches $0.29 — a price level that has repeatedly capped rallies.
Why $0.29 Matters
Breaking $0.29 could unlock a much larger move. Crypto analyst Ali Martinez believes a clean breakout with strong volume would set the stage for targets in the $0.31–$0.36 zone and possibly extend to $0.50. By contrast, rejection at resistance could see Dogecoin retrace toward $0.205, with deeper support near $0.175.
Long-Term Speculation Returns
Beyond the short-term battle at $0.29, the ETF debut has revived speculation about Dogecoin’s longer-term potential. Optimists see $1 as a realistic milestone within this cycle, while the most bullish voices argue that double-digit prices are not impossible if institutional inflows materialize.
What happens next may depend less on memes and more on whether Dogecoin’s first ETF can spark lasting demand from mainstream investors.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/dogecoin-price-outlook-key-levels-traders-are-watching-this-week/