Future demand for order and the manufacture of ETF momentum for one dollar

Dogecoin Price has risen this month, reflecting the performance of Bitcoin and most of Altcoins.

Dogecoin (DodgeThe largest Mimi currency in the encryption industry rose to $ 0.2357 on Wednesday, an increase of approximately 80 % of its lowest point in April. This recovery led to Speculation It may jump to one dollar during this session.

Dogecoin has some stimuli that may support its upward direction. The most prominent of which is the potential approval of the investment funds circulated in Dougia, which was provided by companies such as BitWise, Grayscale, 21shares and Rex shares.

Polymarks possibilities The instant DOGE ETF approval increased to 63 %, up from the lowest level in this month by 60 %. These difficulties have increased because Dogecoin is a currency evidence of work like Bitcoin (BTC) This means that the Supreme Education Council may not consider it safety.

Another potential stimulus for Dogecoin is the high size in both the instant markets and futures. COININECO data shows that 24 -hour trading volume jumped to $ 3.14 billion, which is higher than Shiba Eno (Gray) 3.17 billion dollars and Baby (baby) 2.3 billion dollars.

Coinglass data shows that the open interest of Dogecoin has $ 2.92 billion on Wednesday, a significant increase in the lowest level last month by less than one billion dollars. The interest has remained higher than two billion dollars since May 9.

The future open benefit is an important measure because it reflects the number of active contracts that have not yet been settled. The highest open attention indicates increasing demand and liquidity.

Dogecoin may also benefit from the expected increase in bitcoin price, as the two causes are closely related. For example, STANDARD CHARERED analysts set a $ 200,000 goal for Bitcoin.

Technical analysis of the price of Dogecoin

The three -day graph shows that Dogecoin has gradually formed a large accumulated cylinder since October 2023. This structure consists of two upward and spacing trend lines, also known as the upward style or majavone’s amplifier.

The accumulated cylinder follows seven major points, shown in the above chart. The upward collapse usually occurs at the seventh point in this composition.

If this pattern continues, Dog may gather towards the psychological level of $ 1. To do this, the sixth level must first be broken at 0.4877 dollars and then exceeds its highest level ever at $ 0.7517 to confirm the upcoming expectations.

One of the warnings to predicting the price of Dogoin is that it depends on a three -day scheme, indicating that an increase of 325 % to $ 1 may take several months, or even more than a year, to play. For example, the move from point 6 to 7 took more than five months to complete.