DOGE Consolidates Near $0.261 as ETF Speculation Drives Meme-Coin Activity
Dogecoin (DOGE) traded in a 5% intraday range before easing late, with institutional liquidation briefly breaking short-term support. A $0.251 floor held, enabling a rebound toward $0.264, though a 33M-volume selloff at 03:55 UTC left DOGE consolidating near $0.261.
Market Snapshot
From Oct. 2, 04:00 UTC, through Oct. 3, 03:00 UTC, DOGE moved between $0.251 and $0.264, closing with a 2.7% net gain. Analysts highlighted institutional desks as the main flow drivers, while SBI activity and ETF-related speculation sustained broader demand. Technical patterns—including an emerging ascending megaphone and hidden bullish divergence—indicate upside potential despite short-term selling.
Price Action Highlights
- DOGE dropped to $0.251 at 14:00 UTC before rebounding to $0.264 by 21:00 UTC.
- Selloff volumes peaked at 666M tokens, while the rebound phase involved 414M tokens.
- Support formed at $0.251–$0.253, resistance at $0.262–$0.264.
- Late-session liquidations pushed DOGE from $0.261 to $0.260 on 33.1M volume.
Technical Analysis
Support at $0.251–$0.253 remains strong, while resistance at $0.262–$0.264 continues to cap rebounds. Despite short-term fragility, broader technical indicators—including the ascending megaphone and bullish divergence—suggest a potential continuation toward $0.34 if DOGE can reclaim levels above $0.262.
Key Trader Considerations
- Can DOGE stabilize above $0.260 after late-session liquidation?
- Will a retest of $0.251–$0.253 occur if selling pressure continues into U.S. hours?
- Confirmation of megaphone breakout and bullish divergence could target $0.34.
- ETF-driven flows may continue to support meme-coin bids across DOGE and SHIB.
