Dogecoin (DOGE) Price: 21Shares Launches ETF as Price Tests Key Support Level

TLDR

• 21Shares launched a spot Dogecoin ETF trading under ticker TDOG on NASDAQ, offering regulated access to DOGE through traditional brokerages
• DOGE trades at $0.124, just above a critical demand zone at $0.11734 within a descending channel pattern since September
• Price faced rejection at the $0.1566 supply zone and remains below the 50 EMA at $0.13399, limiting recovery attempts
• REX-Osprey’s DOJE ETF experienced an outflow of $959,955 on January 20, representing 5.15% of its $18.62 million in assets
• Dogecoin has dropped 33.86% over the past three months, with current technical signals showing sell pressure

21Shares announced the launch of its spot Dogecoin ETF on NASDAQ, trading under the ticker TDOG. The product provides 1:1 exposure to Dogecoin through a regulated exchange-traded structure.

The ETF targets investors who prefer traditional brokerage access. This removes the need for crypto wallets and exchanges.

The launch places Dogecoin among top meme coins receiving institutional-grade access. It expands market reach without directly forcing spot demand.

Price action after the announcement remained subdued. This shows that market structure continues to drive price movement.

The ETF approval circulated before the official launch. Market participants had time to position themselves in advance.

Price did not show impulsive continuation following the news. This supports the idea that accessibility alone does not override existing trend dynamics.

Mixed Signals from ETF Market

DOGE currently trades at $0.124, sitting just above a well-defined demand zone. The price has stabilized around $0.11734, where buyers have previously stepped in to slow declines.

The cryptocurrency operates within a descending channel pattern that began in early September. This framework has shaped price action for several months.

A rebound from the demand zone attempted to push higher but stalled at the $0.1566 supply zone. The pullback revealed that sellers remain active at overhead resistance levels.

The price has not maintained acceptance above the 50 EMA at approximately $0.13399. This keeps DOGE in the lower half of the channel and restricts upside potential.

ETF Outflows Signal Caution

The REX-Osprey DOGE ETF, ticker DOJE, recorded an outflow of $959,955 on January 20. The redemption represents roughly 5.15% of the fund’s $18.62 million in assets under management.

The withdrawal marks one of the larger single-day contractions for the product in recent months. It comes as Dogecoin shows persistent weakness in price.

DOGE-USD currently trades at $0.12686, down 33.86% over the past three months. Short-term technical signals show a sell rating.

The outflows suggest some holders are cutting losses or taking remaining gains. Speculative appetite for meme coin exposure appears to be cooling.

If DOGE holds above the 50 EMA near $0.13399, the price could make another attempt at the supply zone. A move above that zone would allow Dogecoin to target the $0.200 level last tested in October.

Failure to hold the $0.11734 support level would keep downside continuation within the channel as the prevailing outcome. The structure presents a clear conditional path forward based on these key levels.

The post Dogecoin (DOGE) Price: 21Shares Launches ETF as Price Tests Key Support Level appeared first on CoinCentral.