Dogecoin Rises 15% Alone Without ETF..."Bitcoin, Move Aside"

▲ Dogecoin (DOGE) ETF/ChatGPT Generated Image

Dogecoin (DOGE) recorded its best weekly return since March, even without the institutional tailwind of spot ETF approval in the US.

According to crypto media outlet U.Today on April 25 (local time), Dogecoin demonstrated a strong presence this week with a surge that exceeded market expectations. Unlike Bitcoin (BTC) and Ethereum (ETH), whose prices fluctuate depending on spot ETF inflows, Dogecoin is leading a rally purely driven by its own market demand. This is considered the most notable weekly performance since the massive bull market in March. Investors' attention is focused on this achievement, as it was accomplished without direct institutional support.

Dogecoin's current rebound is a result of a combination of enthusiastic support from retail investors and strategic buying by whales. Santiment data confirmed a sharp increase in the number of large transactions within the Dogecoin network recently. Mentions on social media also overwhelmed other altcoins, proving strong investor sentiment. The powerful fandom unique to meme coins is acting as a key driver of the price. It appears that the participation of actual users, rather than institutional funds, has laid the groundwork for the price increase.

Technical indicator analysis shows that Dogecoin has reached a critical turning point. It has stably broken through the $0.16 level, which had long acted as a strong resistance, setting the stage for further gains. The volume of open interest has also steadily increased, indicating a continuous inflow of new funds into the market. In terms of trading volume, it recorded unique figures, rapidly absorbing market liquidity. The current chart trend is analyzed as having moved beyond a simple rebound into a phase of new trend formation.

Dogecoin's strength once again proves the vitality of meme coins within the cryptocurrency ecosystem. This is because it is fully demonstrating its value as an asset even without any ETF support from US financial authorities. Investors have begun to differentiate Dogecoin from other assets that are solely focused on spot ETF approval. Active trading within the ecosystem and a strong holder base are factors that secure price rigidity on the downside in the future. Amid overall market uncertainty, it is showing its potential by recording overwhelmingly high returns alone.

Dogecoin has achieved a weekly return of approximately 15%, maintaining the highest growth rate among major cryptocurrencies. It is rapidly attracting market funds, showing a contrasting movement to Bitcoin, which has entered a sideways trend. The active movements on the network and a solid buying base indicate the overall health of the ecosystem. Dogecoin's independent rally is expected to be recorded as a significant indicator for cryptocurrency investors.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*