Dogecoin jumped nearly 6% to $0.261 in the last 24 hours as traders positioned ahead of the scheduled debut of the first U.S. Dogecoin ETF, ticker DOJE, on September 12. Heavy late-session flows — including whale accumulation of more than 280 million DOGE and breakout volume topping 1.1 billion — powered the move and pushed price through intraday resistance.
Price action showed DOGE advanced from $0.246 to $0.261 between Sept. 11 03:00 and Sept. 12 02:00, trading in a $0.019 range with a session low of $0.245 and a high of $0.264. Momentum picked up between 22:00–00:00 UTC when DOGE cleared the $0.253 level on expanded volume; a late pullback tested support near $0.260 but held, indicating buyers defended the zone.
Technicals point to a bullish short-term setup: an hourly pennant breakout, rising lows and expanding volume suggest upside targets near $0.28–$0.50 if momentum continues. Immediate resistance clustered at the intraday high of $0.264, with the next barrier in the $0.29–$0.30 band. Key support levels remain around $0.245–$0.246 and the renewed intraday floor at $0.260.
Traders and desks will watch whether DOGE can sustain closes above $0.26 and attract secondary flows once the ETF starts trading. Institutional order flow and broker routing can amplify short-term volatility and push price toward concentrated option strike clusters around $0.30, where gamma may exacerbate moves into expiries. Whale positioning of 280 million DOGE signals larger-scale interest but could also lock in supply and create stiff resistance if distributions occur.
Why this matters: the DOJE listing is the first exchange-traded product tied to a memecoin, so its performance could set sentiment for other altcoins and influence flows across the broader crypto market. Short-term traders may find opportunity in momentum, but listing-driven moves are often front-loaded. Manage risk by sizing positions, setting stop-losses and recognizing that targets above $0.28 are conditional on sustained volume.
Source: CoinDesk. Read the original coverage for full details.