Dogecoin Plummets Once Again: Can the DOGE ETF Rescue the Memecoin?

Dogecoin Price Predictions

Dogecoin experienced a new 2.5% drop on Tuesday, August 26th, erasing much of the gains accumulated last week following Jerome Powell’s dovish statement. This pullback occurred as investors awaited new U.S. macroeconomic data.

This weakness also extended to Bitcoin, most altcoins, and the stock markets, wiping out recent advances. Investors appear to be waiting for upcoming key economic indicators, such as the Personal Consumption Expenditures (PCE) index on Friday, to anticipate the Federal Reserve’s next interest rate decision.

Some analysts believe, however, that this Dogecoin decline will only be temporary. Based on technical analysis, expert Ali Martinez predicts an imminent rebound in DOGE’s price, with a potential 30% increase from this point.

Additionally, a potential approval of Exchange-Traded Funds (ETFs) for Dogecoin by the SEC before year-end would constitute a welcome bullish catalyst for the cryptocurrency’s price.

Dogecoin Technical Analysis

On the chart, Dogecoin appears to have formed a symmetrical flag pattern on the weekly timeframe, suggesting a likely end to the recent rally. A bearish breakout is thus possible, with a potential return to the key support at $0.1360, the lowest level since March.

DOGE’s price also remains below the 50 and 100-week exponential moving averages (EMAs), indicating that sellers currently dominate the market.

Although Dogecoin is experiencing another decline, its medium-term outlook remains uncertain. Investors should closely monitor upcoming economic announcements and regulatory developments to anticipate future movements of this iconic cryptocurrency.

How to Buy DOGE on Bitget

Buy Dogecoin now on Bitget at just $0.22: An attractive price before a potential rebound fueled by expectations of an ETF by year-end.

1. Visit the official Bitget website or download the mobile app. Create an account with your email address and a secure password. Verify your registration via the link received by email and complete the KYC verification if necessary.
2. Log in and go to the “Deposit” section. Deposit cryptocurrencies (e.g., USDT) or fiat currencies via credit card or bank transfer (depending on options available in your country).
3. Click on the “Trading” tab, then select the spot market. Search for the DOGE/USDT pair (or another pair matching your funds).
4. Choose a market order to buy immediately at the current price (~$0.22), or a limit order to set your target price. Indicate the quantity of Dogecoin (DOGE) you want and confirm the purchase.

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