Dogecoin Price Prediction: DOGE Drops 4% As Bitwise Files For A Dogecoin ETF And This PEPE 2.0 Meme Coin Presale Heads For $58M Ahead Of Lis...

Dogecoin Price Dip and ETF Application

Over the past 24 hours, Dogecoin's (DOGE) price has experienced a 4% decline, currently trading at $0.3510. This drop coincides with a significant 65% plunge in trading volume, which has fallen to $2.7 billion.

Meanwhile, Bitwise Asset Management made history by filing an official application for a DOGE Exchange-Traded Fund (ETF) with the US Securities and Exchange Commission (SEC). This marks the first attempt by a financial institution to introduce a DOGE-related ETF into the highly regulated US market.

Dogecoin Price Analysis and Predictions

DOGE's price has exhibited a well-defined uptrend followed by a consolidation phase. The initial surge began in late October, driven by strong buying pressure, resulting in a rally from $0.21 to a high of $0.45.

After reaching a peak of $0.465, the price of DOGE entered a consolidation period between $0.30 and $0.45. The $0.30-$0.32 range has proven to be a key demand zone, providing support from further declines.

Currently, DOGE is trading near $0.35, suggesting market indecision. The Relative Strength Index (RSI) stands at 47.88, indicating neutral momentum.

If the RSI exceeds 50, it could indicate renewed buying pressure, while a dip below 40 might suggest increased bearish influence.

Support remains at $0.30-$0.32, with a breakout above $0.3645 potentially driving the price towards $0.45 and eventually $0.50. Conversely, a break below $0.30 could lead to a retest of the 200-day SMA near $0.21.

Wall Street Pepe Presale

Amidst Dogecoin's price fluctuations, investors have turned their attention to the presale of Wall Street Pepe (WEPE). This project has garnered over $57.3 million in funding, attracting sizeable investments from whales.

WEPE's presale offers alpha trading signals, a staking feature with a 21% APY, and a community-driven ethos. Investors can purchase WEPE tokens on the official website for $0.0003665 using ETH, USDT, or a bank card. The presale concludes in approximately 24 days.