DOGE Explodes 20% in a Week as ETF Buzz Heats Up—Will Bulls Keep Running?

Dogecoin price breaks out of consolidation, rallying over 20% this week and outperforming Bitcoin and Ethereum.

Market cap jumped $9B in 6 days, backed by rising futures volume, strong long positions, and ETF launch anticipation.

Open interest surges as traders bet bullish, with Binance and OKX leading in futures activity and majority favoring longs.

Dogecoin has reignited bullish momentum, surging past $0.26 with a 20% weekly gain.ETF buzz and aggressive futures positioning,are shaping up DOGE for a potential breakout.

Dogecoin Shows Classic Breakout Pattern

Dogecoin has climbed to $0.26 for the first time in six weeks.The meme-coin surged 20.93% in the past 7 days.Rising trading volume, bullish derivatives data, and anticipation around the delayed Dogecoin ETF launch add more positive sentiments to the crypto.

Javon Marks, a market watcher, shared a historical Dogecoin recurring wedge-breakout pattern since 2015.Each breakout in the past sent Dogecoin to fresh all-time highs.The latest setup, which has been forming between 2023 and 2024, mirrors the breakouts in 2017 and 2021.If history repeats itself,DOGE could push to targets between $0.65 and $1.50

Strong Volume, Market Cap Surge Back the Case

According to CoinGlass, Dogecoin’s 24-hour trading volume exceeded $3.98 billion. Futures activity saw a 26.9% spike, reaching $8.91 billion, while spot trading clocked in at $1.40 billion.Open interest across derivatives stands at $4.72 billion, up 3.76% in the last 24 hours.

Binance and OKX are leading the DOGE derivatives market, with combined open interest crossing $3.84 billion. Funding rates remain stable at 0.0100%, reflecting a neutral-to-slightly bullish market tone.

The Long/Short ratio across accounts ranges between 2.42 to 2.53, with top traders showing even higher bullish bias—some exceeding a 3.82 ratio. Despite this long-heavy positioning, over $7.1 million in short positions were liquidated, showing upward pressure is overwhelming bearish bets.

ETF Buzz Add Bullish Outlook

The recent DOGE rally is partly driven by speculative enthusiasm ahead of the upcoming Dogecoin ETF. The REX-Osprey Doge ETF, filed by Osprey Funds and Rex Shares, will include DOGE and derivatives via a Cayman Islands subsidiary Market cap data reflects rising investor interest. From September 6 to 12, Dogecoin’s market capitalization soared from just above $31 billion to nearly $40 billion—a $9 billion jump in under a week. This marks a 29% increase, suggesting capital is aggressively rotating into DOGE.

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