## Can DOGE Break Through the Impasse? Technical Considerations After the Launch of Bitwise's New ETF

The rebound of Dogecoin is facing a critical test. After Bitwise and Grayscale launched DOGE spot ETF products, this top meme coin has stabilized above the weekend support level of $0.142, with trading prices rising over the past 24 hours. However, upward momentum remains constrained by the descending trendline established since late October.

**Multiple Resistance Levels on the Technical Front**

DOGE is currently trading near the $0.13 level, significantly below its previous highs. More challenging is that the coin faces not only simple price resistance— the 20-day exponential moving average has formed a solid defense line. To achieve a larger rally, breaking through this downtrend line will be a necessary condition. Technical indicators also confirm market hesitation: the Relative Strength Index and the Stochastic Oscillator are both hovering around neutral levels, indicating a tug-of-war between bulls and bears.

Once a breakout occurs, DOGE could test the $0.181 level, which is also supported by the 50-day EMA.

**Market Changes Brought by ETF Listings**

Bitwise's DOGE spot ETF, launched on the NYSE under the ticker BWOW, provides traditional investors with a more convenient way to access the asset. Chief Investment Officer Hunter Horsley stated that DOGE has evolved from a community joke into a "symbol of the crypto movement." Despite facing numerous doubts, its relevance and resilience in the market still surpass most similar assets.

Following closely is the Grayscale DOGE ETF (GDOG), which achieved a first-day trading volume of $1.4 million, indicating that there is indeed demand for such products, although the scale still lags behind more mature projects.

**From Joke to Market Darling: Twelve Years of Evolution**

DOGE, originally launched as a fun meme based on the Shiba Inu dog meme, has grown over 12 years to become the tenth-largest cryptocurrency by market cap. Its journey includes retail traders, community power, and multiple boosts from Tesla CEO Elon Musk, all of which have contributed to DOGE’s unique market position.

Today, with the launch of institutional-grade products, DOGE is entering a new phase—gradually gaining recognition from mainstream finance beyond its origins as a community asset.