Dogecoin Volatility Grows as ETF Decision Looms

Dogecoin (DOGE) recently declined by 8% to key support levels near $0.164–$0.168 amid geopolitical tensions and macroeconomic uncertainty but has since found consolidation and buyer accumulation. Technical analysts note bullish patterns like a double bottom and falling wedge, with some projecting breakout targets up to $0.65 or $1.25, though mixed momentum indicators warn of downside risks if support fails. Increased trading volume and a 15% rise in wallets holding over 1 million DOGE signal growing interest, while technical similarities to the 2020 rally fuel optimism. The potential approval of a spot Dogecoin ETF and broader Bitcoin trends could further influence price direction. However, analysts warn that meme coins like DOGE are highly volatile, particularly given the concentration of large holders. Meanwhile, new meme coins such as Neo Pepe Protocol are drawing investor attention by emphasizing governance and security.