Dogecoin Price Prediction As Bitwise Files An S-1 For A Dogecoin ETF And This Pepe Rival ICO Charges Towards $64M

Dogecoin Price Slumps After Recent SEC Filing

Despite Bitwise's recent filing with the Securities and Exchange Commission (SEC) to launch a Dogecoin (DOGE) exchange-traded fund (ETF), the price of DOGE has dropped over 1% in the past 24 hours, trading at $0.3324 as of 3:25 a.m. EST. This decline is accompanied by a 40% plunge in trading volume to $1.89 billion.

Bitwise Files for Dogecoin ETF

On January 28th, Bitwise filed an S-1 with the SEC, indicating their intention to launch a Dogecoin ETF. The proposed ETF would aim to track the price movements of DOGE, holding and mirroring its price fluctuations.

Analysts Discuss Bitwise ETF

Bloomberg ETF analyst James Seyffart noted that Bitwise had previously filed to register a Dogecoin trust in Delaware on January 22nd. Other issuers, such as Osprey, REX Shares, and Tuttle Capital, are also exploring meme coin ETF proposals, including 10 leveraged crypto ETFs from Tuttle.

Dogecoin Price Signals a Potential Rebound

Despite the recent price drop, the Dogecoin price chart shows promising signs of a bullish breakout, trading within a daily range of $0.3182 to $0.3328. The meme coin is testing the upper boundary of a descending bearish channel, and a breakout above this level could trigger a significant rally.

Support and Resistance Levels

The support level at $0.3186 has acted as a foundation, preventing further downward moves. To confirm a bullish reversal, DOGE needs to break through the critical resistance at $0.3790. A successful breakout could push DOGE towards $0.45 and eventually $0.50, which is where the next major resistance lies. If resistance is not broken, DOGE could face a retracement towards $0.28 or even $0.25.

Relative Strength Index (RSI) Indicator

The RSI currently sits at 49.84, indicating a balance between bulls and bears. If the RSI moves above 50 and trends towards 60, it would signal increasing buyer strength and reinforce the bullish breakout scenario.

Investors Bet on Wall Street Pepe Presale

While Dogecoin traders anticipate a rebound, investors have turned their attention to Wall Street Pepe (WEPE), a new frog-themed meme coin that has raised over $63.6 million in presale. With just 18 days remaining, excitement is building for what could be one of the biggest ICOs of 2025.

Wall Street Pepe Project

The Wall Street Pepe project aims to create a collaborative platform where members can share market insights, identify early trade opportunities, and collaborate to achieve impressive returns. Its goal is to level the playing field for smaller investors and challenge the dominance of whales in the crypto market.