TLDR
- The Dogecoin ETF launches on the NYSE after completing its conversion into an exchange-listed product.
- Dogecoin traded between $0.1460 and $0.149 with a 1.98% daily gain and $1.48B in volume.
- Intraday movement showed repeated swings as volatility shaped upward and downward shifts.
- The long-term chart displayed three breakout phases from rising trendlines across multiple market cycles.
- A recent retest near $0.14 mirrored earlier breakout setups that followed similar ascending base structures.
Dogecoin enters a busy trading stretch as the new GDOG fund begins activity on the New York Stock Exchange today. The exchange cleared the product last week, and Grayscale then confirmed that filings with the SEC matched the requirements. The launch arrives after steady preparation through November, and it marks another step in expanding regulated access to the token.
NYSE Dogecoin ETF Launch Moves Forward with Expected Market Activity
Grayscale opens trading for GDOG after it completed the conversion of its existing Dogecoin trust. The firm now uses the trust’s reserves to support the exchange-traded structure, which tracks Dogecoin’s market price during daily sessions. Bloomberg analyst Eric Balchunas reported the expected date earlier and shared NYSE approval documents before today’s listing.
Balchunas noted that similar products recently generated strong opening interest. He estimated that GDOG could reach about $11 million in first-day volume. He also stated that an XRP ETF, identified as GXRP, begins trading today. Additionally, he indicated that a Chainlink fund named GLNK may follow next week. The DOGE listing now adds another regulated option for traders, while related products advance toward separate launch windows.
Dogecoin Current Market Action Revealed
Following the confirmation about the upcoming Dogecoin ETF by NYSE today, Dogecoin has recorded changes in its price value. Tracking the ongoing price trend at the time of press, CoinMarketCap data reveals that Dogecoin is trading at $0.1460 after steady movement during the 24-hour period. The price now moves upward through the afternoon as buying activity increases across several intervals.
The Dogecoin price chart then shows brief pullbacks before another rise takes the value close to $0.149. The price trend displays repeated swings as intraday volatility shapes short bursts of momentum. The price then moves lower during the early morning hours before recovering again toward the $0.147 area. Trading volume reaches $1.48 billion during the same period, and the market cap records $22.19 billion. As of press, the market data shows a 1.98% gain over the 24-hour window as the chart tracks ongoing fluctuations across the session.
Does This Pattern and the NYSE Dogecoin ETF Launch Signal a Bull Takeover?
With the launch of the Dogecoin ETF by NYSE, the market is expected to react. However, this is not the only potential bullish move. According to an observation by Trader Tardigrade, the Dogecoin price chart shows monthly Dogecoin movements that form three breakout phases from rising trendlines. Each breakout occurs after the price maintains an upward structure and then accelerates strongly.
The first breakout appears near 2017 when the price respects a rising base and then climbs higher. The second breakout emerges around 2020 as the price interacts with a similar trendline before expanding sharply. The third breakout develops after 2023 when the price touches ascending support and then breaks upward. The chart also presents a recent opportunity near $0.14 where price retests a rising base. This point aligns with earlier setups that show consistent technical behavior. The overall structure displays repeated accumulation, breakout, and expansion cycles.
The post DOGE Eyes Bullish Breakout After Dogecoin ETF Debuts on NYSE appeared first on Blockonomi.
Source: https://blockonomi.com/doge-eyes-bullish-breakout-after-dogecoin-etf-debuts-on-nyse/