Dogecoin’s accumulation cylinder set to go parabolic with $3.5 next

Meme cryptocurrency Dogecoin ( DOGE ) is showing signs of preparing for its next parabolic rally, with technical indicators suggesting a potential surge that could target $3.50. According to analysis by TradingShot , this outlook is based on the fact that for nearly a year, Dogecoin has been supported by its monthly 50-day moving average ( MA ), a critical level that has historically marked the start of its major bull ￰0￱ a September 4 TradingView post , the outlook pointed to a familiar “accumulation cylinder” structure forming once again, a pattern that has consistently signaled the transition from bear cycle bottoms into explosive bull cycle ￰1￱ price analysis chart.) records minimal growth over the same period.

DOGE’s potential ETF roll out Notably, market attention has increasingly shifted to Dogecoin as the meme cryptocurrency edges closer to the possible rollout of a spot exchange-traded fund ( ETF ), which is expected to drive institutional capital into the ￰2￱ the latest development, REX Shares and Osprey Funds have filed with the SEC under the Investment Company Act of 1940, paving the way for the first ￰3￱ ETF, expected as soon as next ￰4￱ using the faster “40 Act” route instead of the traditional S-1 and 19b-4 process, the issuers could bring their product to market ahead of rivals like Bitwise, Grayscale, and 21Shares, which remain under regulatory ￰5￱ price analysis At press time, DOGE was trading at $0.22, up 0.23% in the past 24 hours, while over the past week the asset has declined about 0.22%.

DOGE seven-day price chart.