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After the launch of the Bitwise DOGE ETF, DOGE is testing a key resistance level.
Following the listing of Grayscale's DOGE ETF (code BWOW) earlier this week, Bitwise also launched a DOGE ETF (code BWOW) on the New York Stock Exchange earlier this week, providing direct investment in DOGE in the form of an ETP. Bitwise's Chief Investment Officer Hunter Horsley noted that although DOGE started as a joke, it still has lasting influence. The first day trading volume of the DOGE ETF (code BWOW) reached $1.4 million, and Bloomberg analyst Eric Balchunas commented that demand for altcoin ETFs has decreased. DOGE rose 2% within 24 hours, trading close to $0.142, and technical indicators suggest that its price may encounter resistance around the downtrend line; if the upward momentum strengthens, it may test $0.181.