Dogecoin Holds Above 20 Cents As Grayscale Seeks SEC Approval For Spot DOGE ETF

Dogecoin DOGE/USD is holding firm around the $0.20 level despite broader market weakness.

A fresh ETF filing and technical buy signals have injected renewed optimism into the meme coin's price outlook.

Trader Notes: Crypto chart analyst Ali Martinez highlighted a buy signal on Dogecoin's chart, signaling a near-term rebound.

Trader Javon Marks noted Dogecoin is maintaining higher lows, keeping the breakout target of $0.6533 alive.

He added that surpassing this level could open the path toward $1.25, representing a potential 170%+ gain.

Statistics: Coinglass data shows Dogecoin derivatives trading volume surging 92.4% to $7.5 billion in a single day, with open interest at $3.5B, the highest since late July.

Over the past 24 hours, $17.6 million in DOGE liquidations occurred, $14 million of which were long positions, indicating traders are positioned for a potential pump.

Bitinfocharts shows growth in Dogecoin wallets across all ranges, from 0–0.1 DOGE to 100–1,000 DOGE, suggesting increasing accumulation.

Community News: On Aug. 17, Grayscale filed an S-1 for a spot DOGE ETF on NYSE Arca, with a 240-day SEC review period. While the U.S. market hasn't yet approved DOGE ETFs, European markets already offer Dogecoin ETPs.

Meanwhile, Qubic Network founder Sergey Ivancheglo warned DOGE holders that the network faces a potential 51% attack, similar to one recently attempted on Monero, highlighting risks like double-spending, blocked transactions, and mining disruptions.

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• Dogecoin Investors Remain Bullish Despite Price Decline, Commit About $3.42 Billion to Derivatives Market

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