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Dogecoin (DOGE) on Track for Best Week Since March Despite $0 ETF Support in US
TL;DR
Dogecoin (DOGE) is experiencing a 5.10% growth this week, marking its best performance since March. Despite this rise, there is no support from Dogecoin ETFs in the U.S., which have seen no activity since April.
Key points
- Dogecoin (DOGE) has a 5.10% growth this week.
- Current price support is around $0.095.
- Dogecoin ETFs in the U.S. have $11.19 million in assets under management.
Dogecoin
Dogecoin (DOGE) is closing the week with a level of optimism rarely seen in recent times - the current seven-day growth of 5.10% marks the most stable performance since March. The market is showing an interesting paradox: the DOGE price is rising while institutional instruments, such as Dogecoin ETFs in the U.S., are showing zero activity.
On the TradingView chart, it is clearly visible that DOGE has found temporary support around $0.095. Although the asset is still trading well below the key resistance level - the 200-week moving average at $0.136 - the current price action suggests the formation of a local bottom.
The most notable point is the complete absence of support from spot Dogecoin ETFs. According to data from SoSoValue, total assets under management (AUM) have remained at a modest $11.19 million and have shown no movement at all since April 14.
DOGE/USDT weekly price chart with 200-week moving average (red), Source: TradingView
Why DOGE is rising despite zero activity in spot ETFs
The fact that DOGE is delivering its "best week since March" with zero ETF inflows highlights the coin's uniqueness. Unlike Bitcoin, Dogecoin continues to rely on retail participants and speculative expectations, primarily tied to the X ecosystem and speculation around potential integration into XMoney and XChat.
The current growth is a cautious step toward recovery, as for a full return to a bullish phase, Dogecoin still has a long way to go toward the $0.136 level, where the 200-week moving average is located.
However, the asset's ability to rise despite the absence of institutional interest supports a restrained sense of optimism among its supporters. This aligns with last year's pattern, when after April 20, DOGE prices increased by 65% over the following weeks.
Q&A
What is the current price trend of Dogecoin (DOGE)?
Dogecoin (DOGE) has seen a 5.10% increase this week, indicating a positive price trend.
Why are Dogecoin ETFs inactive in the U.S. despite DOGE's growth?
Dogecoin ETFs in the U.S. have shown zero activity, with total assets under management remaining at $11.19 million since April 14.
What is the key resistance level for Dogecoin (DOGE)?
The key resistance level for Dogecoin (DOGE) is the 200-week moving average at $0.136.
