DOGE Surges Nearly 5% as Whales Accumulate and ETF Review Period Shortens to 75 Days

Dogecoin (DOGEUSDT) has experienced a 4.94% price increase over the past 24 hours, rising from 0.17185 to 0.18034 USDT, according to Binance data. This upward movement is primarily attributed to renewed optimism surrounding potential Federal Reserve rate cuts, increased accumulation by large investors ("whales"), and positive sentiment following the U.S. SEC's decision to reduce the review period for spot crypto ETFs, which may include DOGE, from 240 days to 75 days. Technical indicators, such as the formation of a double bottom pattern and strong trading volumes, have also contributed to the bullish momentum.

Currently, Dogecoin is trading at 0.18034 USDT with a 24-hour trading volume of approximately $1.71 billion and a market capitalization of about $27.12 billion, ranking it as the 9th largest cryptocurrency. The asset has shown over 7% gains in the past week, with technical analysis suggesting a short-term buy signal amid ongoing market volatility.