TLDR
- The Dogecoin ETF is launching on the NYSE after completing its conversion to a publicly traded product.
- Dogecoin traded between $0.1460 and $0.149 with a 1.98% daily increase and $1.48B in volume.
- Intraday movements showed repeated swings as volatility formed upward and downward shifts.
- The long-term chart showed three breakout phases from rising trend lines over several market cycles.
- A recent retest near $0.14 mirrored previous breakout setups that followed similar rising base structures.
Dogecoin enters a busy trading stretch as the new GDOG fund begins operations on the New York Stock Exchange today. The exchange approved the product last week, and Grayscale then confirmed that filings with the SEC matched the requirements. The launch comes after steady preparations in November, and it marks another step in expanding regulated access to the token.
NYSE Dogecoin ETF launch moves forward with expected market activity
Gray scale opens trading for GDOG after it completes the conversion of its existing Dogecoin trust. The company now uses the trust’s reserves to support the exchange-traded structure, which tracks Dogecoin’s market price during daily sessions. Bloomberg analyst Eric Balchunas reported the expected date earlier and shared NYSE approval documents ahead of today’s listing.
Balchunas noted that similar products recently generated strong opening interest. He estimated that GDOG could reach about $11 million in volume on the first day. He also stated that an XRP ETF, identified as GXRP, begins trading today. Additionally, he indicated that a Chainlink fund named GLNK may follow next week. The DOGE list now adds another regulated option for traders, while related products move towards separate launch windows.
Dogecoin Current Market Action Revealed
After the confirmation of the upcoming Dogecoin ETF of the NYSE today, Dogecoin has recorded changes in its price value. Tracking the ongoing price trend at press time, CoinMarketCap data reveals that Dogecoin is trading at $0.1460 after a steady move over the 24-hour period. The price is now moving upwards during the afternoon as buying activity increases over several ranges.
The Dogecoin price chart then shows brief pullbacks before another rally takes the value near $0.149. The price trend shows repeated swings as intraday volatility forms short momentum. The price then moves lower in the early morning hours before recovering towards the $0.147 area. The trading volume reaches $1.48 billion during the same period, and the market capitalization amounts to $22.19 billion. As of press time, market data shows a 1.98% gain over the 24-hour window as the chart tracks ongoing swings during the session.
Does this pattern and the NYSE Dogecoin ETF signal a bull takeover?
With the launch of the Dogecoin ETF by the NYSE, the market is expected to react. However, this is not the only potential bullish move. According to an observation by Trader Tardigrade, the Dogecoin price chart shows monthly Dogecoin movements forming three breakout phases from rising trend lines. Each breakout occurs after the price maintains an upward structure and then accelerates sharply.
The first breakout appears near 2017 when the price respects a rising base and then climbs higher. The second breakout appears around 2020 as the price interacts with a similar trendline before expanding sharply. The third breakout develops after 2023 when price touches rising support and then breaks higher. The chart also presents a new opportunity near $0.14 where the price is retesting a rising base. This point is in line with previous setups that show consistent technical behavior. The overall structure shows repeated accumulation, breakout and expansion cycles.
