- Dogecoin reached $0.2840, marking a 100% rise from April lows amid strong market interest.
- Rex-Osprey’s DOJE ETF launch has been delayed to September 18, but investor momentum remains.
- Institutional investors like CleanCore and Bit Origin are accumulating DOGE, boosting long-term confidence.
Dogecoin continued its strong rally, climbing to $0.2840 amid mounting institutional interest, despite another delay in the launch of the Rex-Osprey Dogecoin ETF (DOJE). The cryptocurrency surged to its highest level since July 21, marking a 100% increase from its lowest point in April.
The highly anticipated DOJE spot ETF, originally scheduled to debut on Friday, encountered another delay. Bloomberg analyst Eric Balchunas indicated that the fund is now expected to go live on Thursday, September 18. Unlike other proposed DOGE ETFs from Grayscale, 21Shares, and Bitwise, the DOJE fund will operate under the Investment Company Act of 1940. It will feature a Cayman Islands-based subsidiary responsible for holding DOGE and its derivatives.
Institutional Demand Fuels Dogecoin Momentum
Despite the delay, Dogecoin’s upward movement remained strong, supported by consistent buying from institutional players. CleanCore Solutions has become a major investor, forming a partnership with House of DOGE to eventually acquire up to 5% of Dogecoin’s total supply. Bit Origin, another emerging player, has already accumulated more than 70 million DOGE and is currently raising $500 million to fund additional purchases.
Polymarket prediction data shows rising optimism about future approvals of other DOGE ETFs by the U.S. Securities and Exchange Commission. Market participants expect standard ETF approvals as early as October. These expectations are partly based on Dogecoin’s proof-of-work consensus model, which shares similarities with Bitcoin, making regulatory approval more likely.
Technical Indicators Confirm Bullish Trend
Technical analysis shows that Dogecoin is trading above its 50-day and 100-day exponential moving averages. Both the Relative Strength Index (RSI) and Average Directional Index (ADX) have continued to rise, indicating strong bullish momentum.
Source: TradingView
The price is testing the upper side of an ascending trendline, suggesting a potential breakout. If the rally continues, DOGE could approach a resistance level at $0.4320, last reached in January.
