DOGE’s Wyckoff Accumulation Suggests Imminent Bullish Surge

Dogecoin (DOGE), the leading meme cryptocurrency, is currently exhibiting a Wyckoff Accumulation pattern, a technical indicator that often precedes a significant bullish breakout. According to a recent analysis by Trader Tardigrade, this pattern suggests that DOGE is in the final stages of accumulation, potentially setting the stage for a substantial price increase. The Wyckoff method, a renowned trading strategy, identifies phases of accumulation and distribution to forecast future price movements. In this case, the completion of the accumulation phase could signal an opportune moment for investors to consider entering the market. As of April 10, 2025, market watchers are keenly observing DOGE for signs of a breakout, with some analysts projecting a rise toward the $0 mark. This development is particularly noteworthy given Dogecoin’s history of volatile yet profitable rallies, making it a focal point for both retail and institutional investors. The broader cryptocurrency community is advised to monitor DOGE’s price action closely, as the Wyckoff pattern’s reliability in predicting upward trends has been well-documented in past market cycles.

Dogecoin Wyckoff Accumulation Pattern Indicates Potential Bullish Breakout

Dogecoin (DOGE), the largest meme coin in the market, is showing signs of a potential trend reversal following the emergence of a Wyckoff Accumulation pattern. A recent technical analysis by Trader Tardigrade reveals that Dogecoin appears to be completing this schematic, which typically indicates the accumulation phase of an asset and is used to identify potential buying opportunities and price breakouts.

Dogecoin Eyes $0.20 Support

Dogecoin [DOGE] continues to show strength, maintaining an uptrend since October 2023 and aligning with the critical 61.8% Fibonacci retracement level at $0.13. Despite short-term price fluctuations, this convergence presents a strong bullish signal, especially if price action remains above it. At the time of writing, Dogecoin was trading at $0.1446, marking a 4.90% decline. Doge was trading above a strong support with a bullish pennant signaling a potential breakout. However, on-chain metrics remained weak despite a sharp rise in the Stock-to-Flow Ratio, suggesting renewed scarcity.

21Shares Files for Dogecoin ETF

Asset manager 21Shares has filed an S-1 application with the Securities & Exchange Commission (SEC) to launch a Dogecoin exchange-traded fund (ETF). The fund will provide exposure to the price of Dogecoin without direct sales of the cryptocurrency. Coinbase Custody Trust will serve as the official custodian for the ETF, holding the fund’s tokens. Dogecoin (DOGE) rallied nearly 12% following the news.