Market Analysis: Why Did Dogecoin Not Break Through US$ 0.30 After the Launch of the ETF? 🚀
The highly anticipated approval and debut of the Dogecoin ETF, the Rex-Osprey Doge (DOJE), moved the cryptocurrency market 💰. On its first day at Cboe, the fund generated a significant volume of US$ 17 million, showing strong interest from investors in tokens like DOGE 🐕.
However, despite this success, the price of Dogecoin failed to break the resistance of US$ 0.30, a level that the coin has been struggling to surpass 📉. The token is currently trading around US$ 0.27, with its performance appearing to be correlated to that of the ETF.
Investors are now awaiting the release of the complete data on first-day flow to understand if the interest in the ETF will translate into a more sustained upward movement. Keep an eye on market evolution to know the next steps for Dogecoin.
