Can Bitwise's new product help DOGE overcome technical hurdles?

Dogecoin ETF Market Welcomes New Player. Bitwise officially listed its Dogecoin Spot ETF (ticker symbol BWOW) on the New York Stock Exchange on Wednesday, opening a new channel for institutional investors to directly hold DOGE.

According to the latest data, Dogecoin is currently priced at $0.15, with a 24-hour change of -2.47%. Although facing short-term pressure, this established meme coin is approaching a critical technical milestone.

Support Rebounds, Resistance to Break

Since bottoming around $0.142 last weekend, DOGE has begun a mild rebound. However, this upward momentum is being constrained by a descending trendline dating from October 27 — which coincides with the 20-day Exponential Moving Average (EMA), effectively suppressing the rally over the past month.

Once it breaks above this trendline, Dogecoin could further test the higher target of $0.181, representing approximately 20% upside from the current price. If this level is sustained, the 50-day EMA will provide a stronger support base.

Momentum Indicators Signal Subtle Cues

The Relative Strength Index (RSI) and Stochastic Oscillator are both hovering near neutral levels, indicating the market is in a consolidation phase. If these indicators can break above the neutral line, it would signal the brewing of a bullish sentiment — a promising turning point for bulls.

Why Dogecoin Still Holds Appeal

Although DOGE was initially created as a joke, it has become the tenth-largest cryptocurrency by market cap over 12 years, serving as a cultural icon within the crypto movement. Bitwise Chief Investment Officer Hunter Horsley stated that while this coin does not engage in narratives like “changing global finance” or “fundamental revolution,” it demonstrates rare persistence and resilience among crypto assets.

From Tesla CEO Elon Musk’s influence to ongoing retail community attention, Dogecoin has far surpassed its meme asset origins to become a genuinely community-recognized ecosystem. The launch of Bitwise’s ETF marks an official acknowledgment of this phenomenon by Wall Street.

Recent market interest in Dogecoin derivatives reflects institutional recognition of the asset’s vitality — despite the need for further technical confirmation of a breakout in the short term. The opening of more entry channels is expected to add new momentum to this rebound.