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The Dogecoin price plunged 12% in the last 24 hours to trade at $0.1939 as of 01:31 a.m. EST on trading volume that plunged 27% to $2.8 billion.
This drop in the DOGE price comes after NYSE Arca submitted a 19b-4 filing with the US Securities and Exchange Commission (SEC) to list and trade the Bitwise Dogecoin ETF (exchange-traded fund).
JUST IN: Bitwise has filed for a spot Dogecoin $DOGE ETF.
63% chance it's approved this year. pic.twitter.com/xSv1n5MR1q
— Polymarket (@Polymarket) March 3, 2025
What should investors expect if this Dogecoin ETF is approved?
Dogecoin Price Analysis: Breaking Out Or Breaking Down?
According to the DOGE price daily chart, the asset is currently trading at $0.1939.
The most notable observation on this chart is the falling wedge pattern, characterized by converging trend lines that typically signal an eventual bullish breakout.
The pattern began forming after the Dogecoin price peaked above $0.45 in early 2025, followed by a downward correction. This correction found support at multiple touchpoints, forming the wedge shape.
DOGE’s current price action indicates that the meme coin is testing the lower boundary of this wedge, suggesting that a reversal could be near.
Additionally, the price of Dogecoin is sitting just above a key long-term support level near $0.19, according to GeckoTerminal data.
If this level holds, the price of DOGE could stage a rally toward the upper boundary of the wedge and potentially break out. A breakout above the resistance level near $0.28 could then trigger a strong bullish move.
DOGE is currently trading below both the 50-day and 200-day Simple Moving Averages (SMAs), which suggests a bearish trend in the short and medium term. However, a breakout above these levels would signal a trend reversal.
Meanwhile, the Relative Strength Index (RSI) is hovering just above the 30-level, indicating that the Dogecoin price is approaching oversold conditions.
Historically, when the RSI drops near 30, it often precedes a price rebound, which aligns with the falling wedge pattern signaling a potential upside move.
Can Bitwise’s DOGE ETF Change Dogecoin’s Path?
If DOGE successfully breaks out of the falling wedge, it could see a potential 56% rally toward the resistance level around $0.30–$0.32.
This level aligns with previous resistance zones and the 50-day SMA.
However, if the Dogecoin price fails to hold the $0.19 support, further downside toward $0.15 is possible.
As the DOGE price aims for a likely reversal, investors are snapping up a new PEPE 2.0 ICO called MIND of Pepe (MIND). 99Bitcoins, a popular crypto channel on YouTube with over 725K subscribers, says MIND has the potential to soar 20X after its launch.
MIND Of Pepe Presale Smashes The $7 Million Mark
MIND of Pepe is a pioneering crypto project and the first AI project to leverage a major meme coin brand.
It offers AI-driven opportunities for its native token holders and engages with the crypto community in a new innovative way.
The project redefines innovation in crypto by fusing the most popular sector of the digital asset market, meme coins, with the fastest-growing emerging narrative, AI agents.
So far, the project has attracted a huge following, with its presale breaking past the $7 million milestone.
🚨 $MIND is Now Live in Upcoming Tokens! 🚨@MINDofPepe leverages the power of AI to help users identify new trends and exciting opportunities. The self-evolving AI agent interacts across platforms to deliver real-time updates.
Built on Ethereum, $MIND offers holders exclusive… pic.twitter.com/uyXFpYka5p
— Best Wallet (@BestWalletHQ) January 14, 2025
One outstanding feature of the project’s AI agent is its ability to analyze emerging trends in the Web3 space on social media platforms, especially Crypto Twitter, before they gain traction and point them out to MIND holders.
Currently, MIND tokens are priced at $0.0034402, and can be bought with either ETH, USDT, BNB or bank card.
Token holders also have the opportunity to stake their MIND tokens for a stratospheric 321% annual percentage yield (APY).
Interested investors will want to act fast, because MIND’s price will undergo a presale increase in less than 18 hours.
Visit the MIND of Pepe website.
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