The Dogecoin price jumped over 5% in the last 24 hours to $0.2665 as of 3:10 a.m. EST as investors remain optimistic about ETF approval prospects.
Current Dogecoin Price Movement
The rise in Dogecoin price is connected to Bloomberg analysts James Seyffart and Eric Balchunas suggesting a 75% chance of an exchange-traded fund for Dogecoin being approved by the U.S. Securities and Exchange Commission this year. They also anticipate the SEC will review filings for DOGE ETFs by Grayscale and Bitwise this week.
Dogecoin Price Technical Analysis
According to DOGE/USD 4-hour chart, Dogecoin is attempting to flip the resistance level at $0.2582 into support. If successful in the next few hours, it may test $0.2789. However, a sell-off could lead to testing support at $0.2353, with potential decline to $0.2211.
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