DOGE Targets $0.50 After 280M Tokens Accumulated Ahead Of ETF Launch
The post DOGE Targets $0. 50 After 280M Tokens Accumulated Ahead Of ETF Launch appeared com. Dogecoin is again making headlines as investors debate whether or not DOGE can surge to $0. 50. This discussion has been escalated by the fact that whales have accumulated over 280 million tokens before the first Dogecoin exchange-traded fund (ETF) approval in the United States. The ETF has recorded a volume of $17 million on the first day of launch, an outstanding start and an indication that the institutional money might have finally reached the memecoin space. However, Dogecoin is not the only name that is evoking excitement. Analysts are also shifting their focus to MAGACOIN FINANCE, an emerging memecoin expected to become a high-ROI provider of up to 1600% before DOGE even hits $0. 50. Its explosive surge is already being compared to the DOGE early rally, giving the possibility that, in the near future, MAGACOIN FINANCE might gain more momentum than DOGE. Technical Setup for DOGE The Dogecoin technical structure provides traders with reasons to remain optimistic. Analyst Ali Martinez found a parallel channel pattern that has held DOGE price for several months. The trend develops when prices move sideways between two parallel trendlines that create distinct resistance and well-defined areas of support. The resistance on the channel is at approximately $0. 29, which DOGE was recently trying to reach this month, but was rejected. The bottom has served as a support level, preventing further breakdown. DOGE is currently after another retest on the upper line, and breaking out of it would be a bullish indication. If DOGE breaks this resistance, Martinez projected an upside of $0. 36 and $0. 45, based on the height of the channel. The initial level is a half movement, whereas the second is a full extension. A decisive breakout would then clear the way to reach the most critical psychological target at $0. 50. Whales and ETF Hype.