Dog today news: Nasdaq approves 21Shares 2x Long Dogecoin ETF despite continued price weakness

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Dogecoin slides 8.04% today

Highlights

Nasdaq approved the listing and registration of the 21Shares 2x Long Dogecoin ETF, granting institutional investors leveraged exposure to DOG.
The 21Shares launch expands its global suite of crypto ETPs to 16 and follows a recent strategic combination with FalconX, managing $8 billion in assets.
Glassnode blockchain analytics report strong accumulation activity in wallets holding DOG, indicating growing investor interest in the asset.

Institutional ETF approval and wallet accumulation bolster sentiment

Nasdaq has approved the listing and registration of the 21Shares 2x Long Dogecoin ETF, marking a key institutional milestone by providing leveraged exposure to DOG. This launch expands 21Shares’ suite of crypto ETPs to 16 globally and follows its recent strategic combination with FalconX, a major digital asset prime broker overseeing $8 billion in assets. Blockchain analytics from Glassnode also indicate strong accumulation activity in wallets holding DOG.

Bearish momentum intensifies as technical indicators flash oversold signals

Technical analysis indicates DOG is trading below its MA-20 ($0.001527), MA-50 ($0.001796), and MA-200 ($0.003037), confirming persistent selling pressure over short, medium, and long-term trends. The closest resistance is the Ichimoku Kijun at $0.001574, with immediate support near today’s session low. Momentum indicators reflect ongoing weakness: the MACD signals a strong sell, and the ADX at 19 points to a weak trend. Oscillators show oversold conditions, with RSI at 37, Stoch RSI near 17, and a deeply negative CCI, all indicating short-term exhaustion. BBP is negative, further supporting that sellers dominate intraday, and the Awesome Oscillator is also bearish.

Downward risks persist amid consolidation within narrow trading band

DOG is expected to fluctuate between $0.00112 and $0.00127 over the next five trading days, trading within a 10% band of the current price. The likelihood of further decline remains very high, with potential for consolidation between support at $0.00112 and resistance at $0.00127. A bullish reversal would require a clear break above $0.00127 – $0.00128, while a move below $0.00112 could trigger a test of new lows.

Viktoras Karapetjanc, expert at Traders Union, sees institutional interest in Dogecoin strengthening with Nasdaq's approval of the 21Shares 2x Long Dogecoin ETF. He notes the price remains under pressure, with DOG trading well below key moving averages. Despite weak short-term momentum, he believes strong accumulation by holders and expanding ETP access could provide a foundation for future upside. Macro and fundamental factors are moving in a constructive direction. "If consolidation can hold above $0.00112 and the ETF launch drives more inflows, a breakout above $0.00127 could be the start of a new positive trend."

Previously it was noted that momentum and volatility favor sellers, with technical indicators signaling persistent downside pressure in the market. Last time we reported that oscillators highlight some divergence from momentum, suggesting the potential for a technical bounce despite prevailing bearish conditions.

Source of Data: DOG Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.