{"id":51268,"date":"2025-03-11T14:45:00","date_gmt":"2025-03-11T14:45:00","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=51268"},"modified":"2025-03-11T14:45:00","modified_gmt":"2025-03-11T14:45:00","slug":"3-reasons-why-dogecoin-doge-could-turn-bullish-again-soon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=51268","title":{"rendered":"3 Reasons Why Dogecoin (DOGE) Could Turn Bullish Again Soon"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Despite a severe price drop, some factors like increased whale activity suggest a DOGE reversal might be just around the corner.<\/span>
\nA potential approval of a spot Dogecoin ETF could also contribute to a possible rally in the near future.<\/p>\n

<\/a><\/span><\/h2>\n

The Bears to Step Back?<\/h2>\n

The past few weeks have <\/span>been devastating for<\/span> the cryptocurrency market, with countless leading digital assets witnessing<\/a> double-digit price losses. The <\/span>biggest<\/span> meme coin \u2013 Dogecoin (DOGE) \u2013 is no exception, as its valuation has declined by almost 40% <\/span>on a monthly scale<\/span>, currently trading at around $0.16 (per CoinGecko\u2019s data).<\/span><\/p>\n

<\/a>DOGE Price, Source: CoinGecko<\/p>\n

Contrary to the bearish landscape<\/span>, though<\/span>, some factors signal that the asset might switch to a bullish mode in the short term.<\/span> The popular analyst Ali Martinez recently <\/span>revealed<\/span><\/a> that the investor sentiment around DOGE is \u201cat its most negative in over a year.\u201d\u00a0<\/span><\/p>\n

\u201cHistorically, extreme fear has set the stage for major reversals. <\/span>This<\/span> could be a prime opportunity to be a contrarian,\u201d he added.<\/span><\/p>\n

Next on the list is the whales\u2019 activity. Martinez <\/span>claimed<\/span><\/a> that large investors have purchased over 1.4 billion DOGE tokens in the past 24 hours. <\/span><\/p>\n

The development reduces the circulating supply of the asset, potentially paving the way for a price rally (assuming demand doesn\u2019t head south). Additionally, the whales\u2019 accumulation signals confidence in the meme coin, which could encourage smaller players to hop on the bandwagon and inject fresh capital into the ecosystem.\u00a0<\/span><\/p>\n

Lastly, we will focus on DOGE\u2019s Relative Strength Index (RSI), which helps traders assess possible trend reversals. The technical analysis tool varies from 0 to 100, and readings below 30 typically suggest that Dogecoin is oversold and could be gearing up for a resurgence. As of this writing, the RSI <\/span>stands<\/span><\/a> around that particular bullish zone.\u00a0<\/span><\/p>\n

Awaiting for ETF, too<\/span><\/h2>\n

Another element that may positively impact the price of Dogecoin is the potential approval of a spot DOGE exchange-traded fund (ETF) in the US. If greenlighted by the SEC, the product will enable investors to gain exposure to the meme coin without dealing with crypto exchanges or managing self-custody. This <\/span>could bring more people into the ecosystem and trigger an upward pressure on the asset\u2019s valuation.<\/span><\/p>\n

The companies that have already displayed their intentions to introduce a DOGE ETF include Grayscale, Bitwise, and others. The securities regulator <\/span>acknowledged<\/span><\/a> some of the applications over the past few months.<\/span><\/p>\n

According<\/span><\/a> to Polymarket, the approval odds before the end of the year stand at around 62%.\u00a0<\/span><\/p>\n

The post 3 Reasons Why Dogecoin (DOGE) Could Turn Bullish Again Soon<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Despite a severe price drop, some factors like increased whale activity suggest a DOGE reversal might be just around the corner. A potential approval of a spot Dogecoin ETF could also contribute to a possible rally in the near future. The Bears to Step Back? The past few weeks have been devastating for the […]<\/p>\n","protected":false},"author":0,"featured_media":51269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-51268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/51268"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51268"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/51268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/51269"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}