The Daily Star Ireland
Dogecoin is struggling to maintain its recent upward momentum after sliding below crucial support zones, signaling a potential shift in short-term sentiment. The popular memecoin is trading at $0.2447, down 8.42% in the last 24 hours, though it remains up nearly 6% over the past week, according to data from crypto.news.
Over the past few weeks, Dogecoin’s price movements have reflected an ongoing battle between buyers and sellers. Since mid-September, the asset has repeatedly bounced from support around $0.22, only to face selling pressure near $0.26. Each rebound has been met by faster profit-taking, leaving DOGE unable to sustain rallies for long. Despite these pullbacks, the broader trend remains mildly bullish — and several emerging factors could help the coin regain traction.
Institutional Interest May Bolster Dogecoin’s Recovery
Institutional accumulation is rapidly becoming one of the key narratives supporting Dogecoin’s long-term potential. Earlier this month, CleanCore Solutions announced that it now holds 710 million DOGE, equivalent to over $20 million in unrealized gains, as part of its corporate treasury strategy. The firm also revealed its ambition to increase holdings to 1 billion DOGE, underscoring growing corporate confidence in the asset.
Other companies are following suit. Thumzup Media and Bit Origin have both disclosed similar Dogecoin accumulation programs, signaling that institutional investors are beginning to view DOGE as more than just a meme coin — but rather as a viable, decentralized digital asset for diversification and treasury allocation. This wave of institutional participation could provide stronger price support and help stabilize the asset during market corrections.
Rising Momentum Behind Dogecoin ETF Filings
Excitement is also building around potential Dogecoin exchange-traded funds (ETFs) in the United States. Products like REX-Osprey’s $DOJE have already attracted institutional attention and early capital inflows, while major asset managers such as Bitwise and Grayscale have pending applications under review by the U.S. Securities and Exchange Commission (SEC).
Industry analysts say ongoing engagement between issuers and regulators has improved the outlook for approval. Should a DOGE ETF receive the green light, it would mark a significant milestone, opening the door for mainstream investors to gain regulated exposure to the asset — similar to how spot Bitcoin and Ethereum ETFs have transformed liquidity and adoption in those markets.
Cardinals Index Node Upgrade to Boost Network Utility
On the technical front, Dogecoin’s Cardinals Index Node upgrade is another major development expected to improve network performance. Although details remain limited, the update aims to streamline node operations, enhance decentralization, and reduce indexing times.
By making the network more efficient and scalable, the upgrade could attract developers, expand real-world use cases, and improve transaction reliability. This type of infrastructure improvement typically strengthens community confidence and may help sustain Dogecoin’s long-term growth, even amid short-term volatility.
Technical Outlook: DOGE Still Holding Its Uptrend
Despite the recent correction, Dogecoin’s long-term chart continues to show signs of resilience. The token has been forming higher lows since mid-June, creating a clear ascending trendline that currently sits around $0.23 — a critical level for maintaining bullish structure.
If DOGE manages to stay above this zone, it could attempt to reclaim $0.29, a resistance point that has capped rallies multiple times this year. A confirmed breakout above that level might pave the way toward $0.32 or higher, particularly if broader market sentiment improves.
Conversely, a breakdown below $0.23 would likely invalidate the current uptrend and trigger increased selling pressure. In that case, Dogecoin could revisit $0.20, with a possible retest of the $0.18 accumulation area seen earlier in the year.
The Bottom Line
While Dogecoin’s short-term outlook remains fragile, a mix of institutional accumulation, ETF optimism, and upcoming network upgrades could provide the momentum needed to reignite investor confidence. For now, traders are closely watching the $0.23 support level — the line that separates consolidation from another potential downturn.
