Dogecoin Q1 Trend Signals Strength as ETF Filing Adds Bullish Catalyst

Dogecoin is seeing a resurgence in attention as we enter Q1 with improved technical indicators and the emergence of new regulations, which will help to continue to build support behind DOGE.

It remains among the most actively traded meme coins, thanks to a broadly liquid and retail-driven market structure. At press time, the coin is trading at $0.1418 with a decline of $4.62% over the past 24 hours.

Dogecoin Builds a Base Near Key Support

According to the TradingView chart, DOGE is currently consolidating around $0.14 following a period of correction after hitting a high resistance point. Recently, Price has bounced off from its Short Term Demand Zone ($0.12). Although there is still Major Resistance around $0.16, this current Structure is more indicative of Support and Consolidation versus Continued Downside.

Volume levels are lower than previous Volume Spikes, showing diminishing velocity of Sellers. Additionally, the MACD Indicator has begun to curl upwards and is close to crossing bullishly, which implies Improving Momentum going forward into Q1. 

Also Read: Dogecoin’s (DOGE) Valentine’s Day Explosive Surprise: 14.79% Surge

21Shares Spot Dogecoin ETF in Focus

According to the recent update on X by the user named dogegod, there have also been reports circulating on social media that 21 Shares has recently submitted its final prospectus to the US Securities and Exchange Commission (SEC) for the Dogecoin cryptocurrency exchange-traded fund (ETF) and that this may pave the way for a listing on the Nasdaq stock exchange.

Although there is currently no confirmation of regulatory approval, there does appear to be positive developments in the filing, particularly with respect to increased institutional investment in expanding crypto ETFs to include cryptocurrencies other than Bitcoin and Ethereum.

Historical Returns Favor Upside

Based on the historical data from Cryptorank, Dogecoin has been able to show positive quarterly performance during Q1 throughout multiple market cycles in Q1 over historical performance data.

While we analyse the seasonal trend as well as improving technical conditions and the increased optimism from ETFs, the likelihood for a positive Q1 outlook for Dogecoin is bolstered, assuming the overall market remains supportive of this trend.

We can conclude that Dogecoin enters Q1 with technical stability and has historical support. Additionally, regulatory changes could provide support. Should the price remain above the key support level and upward momentum return, Dogecoin will begin a gradual move to higher resistance levels throughout Q1.

Also Read: Dogecoin Price Analysis: $0.12 Support and Repeating Patterns Draw Market Attention