Dogecoin (DOGE), after a recent dip to a key support level, is stirring new excitement among investors. While the broader crypto market remains subdued, growing capital inflows into a newly launched Dogecoin ETF are boosting bullish scenarios. Some analysts even predict that October could deliver a parabolic rally.
Technical Signals Favor the Bulls
On the daily chart, Dogecoin continues to respect its upward trend, forming higher highs and higher lows. The price recently tested the lower boundary of its ascending channel, which aligns with the 100-day EMA and a key Murrey Math Lines level.
Historically, such touches of support have triggered sharp rallies:
In June, DOGE surged more than 100%
In September, it jumped by 50%
If history repeats, the next major resistance sits at $0.3173, around 40% above current levels.
On the flip side, analysts caution that a rising wedge pattern is forming—a structure that often ends with a sharp breakdown. A decisive move below the trendline would invalidate the bullish scenario.
ETFs as a Growth Engine
Optimism is also being fueled by ETF activity. The newly launched Rex-Osprey ETF has recorded inflows every single day since its debut. In total, over $20 million has already flowed into the fund—a major milestone for Dogecoin.
Analysts believe that mainstream DOGE ETFs, expected to launch in October, could attract even larger waves of capital. This could help Dogecoin repeat the playbook seen with Bitcoin and Ethereum, whose prices skyrocketed to all-time highs after their ETFs were approved.
Big Picture: Can DOGE Hit $1?
Charts are also showing a potential “cup-and-handle” formation, often considered a reliable signal for long-term gains. Some estimates suggest this setup could drive Dogecoin all the way to $1, a more than 330% increase from current levels.
As October begins, Dogecoin faces a mix of hopes and risks. Technical patterns and ETF inflows point to strong upside potential, but the narrowing wedge reminds traders that volatility will likely dominate the path ahead.
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