Dogecoin Surges 9% Daily Amid Market Recovery, Facing Key Resistance
Dogecoin shows significant growth but faces resistance at $0.20.
In the last 24 hours, the original meme coin, Dogecoin, has impressively surged by over 10% as the broader market shows signs of a rebound, approaching the price level of $0.185. Although there has been a slight decline since then, it continues to hold steady above $0.18 at the time of writing. However, renowned cryptocurrency analyst Ali Martinez cautioned that the next significant resistance lies at the $0.20 mark, where more than 11 million tokens have been gathered.
“11.12 billion Dogecoin $DOGE were accumulated around the $0.20 level. This now represents a major area of resistance.”
— Ali (@ali_charts) November 8, 2025
These accumulation levels are crucial as investors who have established positions in this range might be more inclined to sell if conditions are favorable. For example, should the asset trade below this line for a time and then return, they may be willing to cash out at breakeven.
The recent rally for Dogecoin followed Bitwise’s update to its ETF filing, initiating a 20-day automatic effectiveness period by withdrawing the delaying amendment from its S-1 registration. This development mirrors other cryptocurrency ETF applications, such as those from SOL and XRP, and augments the likelihood of a launch after this period if the SEC does not intervene.
Interestingly, Bitwise provided an entertaining response when asked for comments on the updated DOGE filing, as reported by journalist Eleanor Terrett.
🚨NEW: Asked @BitwiseInvest for comment on the updated $DOGE filing. Their official response?
“Woof, woof.” 🐶
Happy Friday! Source
As a result of these positive developments regarding the ETF, Dogecoin traders on Binance have begun to ramp up their long positions, likely betting on price increases if such financial products are indeed launched soon. However, it is essential to note that the crypto market has already been experiencing excessive leverage, and an abundance of such positions could trigger a further downturn.
“Binance’s top traders are rapidly increasing their $DOGE long positions.”
— CW (@CW8900) November 7, 2025
