Bitwise Asset Management announced that the launch of a spot Dogecoin ETF may occur within the next 20 days under the automatic approval mechanism, provided the SEC does not intervene. Previously, ETFs for Solana, Litecoin, and Hedera entered the market, strengthening institutional interest in meme-coins.

However, Dogecoin’s price failed to gain momentum following the news. Large holders continued to take profit, and over the past three days, more than 1 billion DOGE was moved to exchanges, putting pressure on the market. As a result, the price fell below $0.167, confirming a short-term weakening in demand.

The technical picture indicates a downward movement with a sequence of lower highs. Indicators show slowing momentum, but selling pressure remains. To restore a bullish scenario, the market needs to regain support above $0.167.

Traders will now watch whether DOGE can hold the support zone at $0.1575–$0.1615. A breakdown of this level may lead to a decline toward $0.15, while a breakout above resistance would open the way toward $0.172–$0.180.