DOGE breaks out of the bull flag and trendline as trading volume surges by 42% on Binance.
Nasdaq files for Dogecoin ETF; analysts see 80% chance of SEC approval by year-end.
BTC dominance flattens, signaling altcoin rotation as DOGE whale accumulation rises.
Dogecoin has formed a textbook Accumulation Cylinder pattern on the 3-day chart, a structure often linked to upcoming bullish moves. Combined with growing on-chain activity and a possible top in Bitcoin dominance, traders say the stage is set for a strong price movement in the coming months.
Technical Breakouts Confirm Strengthening Momentum
According to analysis prepared by Trader Tardigrade on May 1, 2025, Dogecoin has broken above both a long-term descending trendline and a bull flag pattern. These technical formations are typically observed during shifts from prolonged downtrends to renewed upward movement. The breakout was confirmed after DOGE closed above $0.145 on Binance.
Volume on major exchanges surged, with Binance recording a 42% increase in daily DOGE trading volume, totaling over 1.2 billion tokens. At the same time, futures market data shows open interest rising by 15.7% to $320 million. This combination of breakout and volume increase indicates growing trader confidence and market participation.
Price indicators on the 4-hour chart show a Relative Strength Index (RSI) reading of 68, which is near overbought levels but still leaves room for additional gains. The MACD also shows a bullish crossover, suggesting short-term buying pressure remains active.
ETF Momentum and Bitcoin Dominance Shift Favor Altcoins
On April 29, 2025, Nasdaq filed a 19b-4 form with the U.S. SEC to list shares of the proposed 21Shares Dogecoin ETF. According to Bloomberg analysts Eric Balchunas and James Seyffart, there is an 80% chance of SEC approval by the end of 2025.
https://twitter.com/CryptoBullet1/status/1917525119590711467
This would mark a major development for DOGE in terms of regulatory and institutional exposure. BTC dominance has also started to flatten after a prolonged uptrend. According to multiple trading desks, this shift often signals capital rotation from Bitcoin to altcoins.
Traders monitoring these patterns believe this setup could push DOGE toward a strong upward move, especially with whale accumulation increasing steadily.
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