Dogecoin (DOGE) is currently trading at $0.2447, down 8.42% in the past 24 hours, though still up nearly 6% over the past week, according to crypto.news data. The recent pullback underscores weakening price momentum, as the memecoin struggles to maintain its recent gains.
Since mid-September, Dogecoin has displayed uneven momentum. It found support near $0.22 and rebounded toward the $0.26 region, but each rally has faced rapid sell-offs, preventing sustained upward movement. Sellers continue to dominate, challenging the coin’s ability to hold higher levels.
Despite this, several factors could support a rebound and help Dogecoin regain traction.
1. Growing Institutional Interest
Institutional demand is emerging as a potential catalyst for Dogecoin’s recovery. Recently, CleanCore Solutions disclosed it holds over 710 million DOGE in its corporate treasury, with plans to accumulate up to 1 billion DOGE as a strategic digital asset. Similarly, Thumzup Media and Bit Origin have revealed comparable initiatives, signaling rising institutional attention beyond retail investors.
2. Momentum in Dogecoin ETF Filings
U.S. Dogecoin ETF approvals are generating additional optimism. New products, including REX-Osprey $DOJE, are attracting institutional capital, while multiple applications from Bitwise and Grayscale remain under SEC review. Ongoing engagement and amendments with regulators could pave the way for approval, granting DOGE broader access to regulated investment channels.
3. Cardinals Index Node Upgrade Boosts Utility
Dogecoin’s upcoming Cardinals Index Node upgrade is another development to watch. Though details remain limited, the upgrade aims to streamline node operations, improve decentralization, and enhance scalability. Reduced indexing times and new on-chain features could attract developers, expand use cases, and strengthen transaction reliability, potentially boosting confidence in the network.
Technical Outlook
Despite recent weakness, Dogecoin’s long-term chart maintains an upward trajectory. The token has formed higher lows since mid-June, with an ascending support line near $0.23. Remaining above this level would preserve the broader uptrend.
The next resistance zone lies near $0.29, which has repeatedly capped rallies in recent months. A decisive break above could pave the way toward $0.32 or higher if market momentum strengthens. Conversely, falling below $0.23 could signal a trend reversal, potentially pushing DOGE toward $0.20 or lower support around $0.18, where prior accumulation occurred.
