DOGE Explodes 9% Daily But This Major Resistance Spells Trouble
The OG meme coin skyrocketed by over 10% at one point in the past 24 hours as the overall market showed signs of revival and neared $0.185.
It has lost some traction since then, but still remains above $0.18 as of press time. However, popular crypto analyst Ali Martinez warned that the next crucial resistance stands at $0.20, where over 11 million tokens were accumulated.
11.12 billion Dogecoin $DOGE were accumulated around the $0.20 level. This now represents a major area of resistance. pic.twitter.com/nMfksq6z0S
— Ali (@ali_charts) November 8, 2025
These accumulation levels are important as investors who had built up positions there could be more inclined to sell under certain conditions. For instance, if the underlying asset had spent some time below them and it finally returns, then they might be opened to cash out at breakeven.
Dogecoin’s latest rally came after Bitwise updated its ETF filing, triggering a 20-day automatic effectiveness period by removing the delaying amendment from its S-1 registration. This mimics other crypto ETF applications, such as SOL and XRP, and increases the chances for a launch after these 20 days if the SEC fails to object.
Interestingly, Bitwise had a rather intriguing response when asked about comments for the updated DOGE filing, as reported by journalist Eleanor Terrett.
NEW: Asked @BitwiseInvest for comment on the updated $DOGE filing. Their official response?
“Woof, woof.”
Happy Friday! https://t.co/Mu3EQYfatz
— Eleanor Terrett (@EleanorTerrett) November 7, 2025
Perhaps influenced by these positive developments on the ETF front, Dogecoin traders using Binance began to increase their long positions, likely anticipating price rallies if such financial products indeed see the light of day soon. However, it’s worth noting that the crypto market already suffered from excessive leverage being used, and too many such positions could trigger another meltdown.
Binance top traders are rapidly increasing their $DOGE long positions. pic.twitter.com/qfrXC5nRgC
— CW (@CW8900) November 7, 2025
The post DOGE Explodes 9% Daily But This Major Resistance Spells Trouble appeared first on CryptoPotato.
Filed under: Bitcoin - @ November 8, 2025 9:28 am