Dogecoin Surges Past Two-Week Resistance on ETF Optimism
Dogecoin price jumped 9% on August 9, breaking above the $0.25 level and clearing its 14-day resistance. The rally was driven by increased ETF approval odds—up 5% to 67%—and aggressive derivatives trading. Open interest climbed 13.2% to $3.82 billion as leveraged traders bet on further upside. Binance and OKX long/short ratios, at 2.47 and 2.69 respectively, confirmed a strong bullish bias. Short liquidations of $6.92 million versus $2.80 million for longs pointed to a squeeze that fueled the breakout. Technically, DOGE’s move above the mid-Bollinger Band and 50-day moving average at $0.225 paves the way to a $0.26–$0.268 target. A sustained close above $0.243 could open the door to $0.285, while failure to hold $0.225 risks a pullback to $0.211.
Bullish
The combination of ETF approval optimism and a sharp rise in derivatives open interest indicates strong bullish momentum for Dogecoin. Historically, similar ETF-driven catalysts have sparked sustained altcoin rallies. The 9% price surge, long-biased ratios on major exchanges, and technical break above key moving averages point to further upside in the near term. In the long run, actual ETF approval could cement bullish sentiment, while failure to maintain critical support levels may trigger short-term pullbacks.