Dogecoin in October: Sustainable rally or bullish trap?

DOGE shows no signs of slowing down. In the last 24 hours, it gained 4.61%, consolidating a weekly increase of 14.12% that takes advantage of the “Uptober” momentum and speculation about a possible Dogecoin spot ETF.

Whales accumulate silently

On-chain data paint an interesting picture: whales bought more than 30 million DOGE (≈$7.86 million) on October 6, while nearly $700 million in DOGE were withdrawn from centralized exchanges last week. Translation: tight supply + institutional buying = real bullish pressure.

The ETF factor: approval before the end of the month?

The SEC continues reviewing applications from Bitwise and Grayscale to launch a spot ETF. We already saw the debut of the RexShares Osprey Futures ETF ($DOJE) in September. If approved, DOGE could see an influx volume that breaks the current ceiling.

Technical: no oversold signals yet

• Support at $0.24 holds firm
• MACD in positive territory (+0.0005)
• RSI at 59.25 = room to rise before overbought
• Key resistance: $0.27 (Fibonacci level)

A decisive close above $0.27 opens the door to $0.30. The downside: if it breaks $0.24, a pullback to $0.195 is likely.

Macro context: BTC at $125k, altcoins on fire

Bitcoin has already surpassed $125k, BNB is up 17%, crypto cap at $4.29T. Altcoin rotation is underway. **DOGE could ride this wave as long as Bitcoin stays $120k floor(.

Critical levels to watch

$0.27 )resistance( → $0.26 )intermediate support( → ETF updates at the end of October )key catalyst