Key Notes
- Bulls successfully defended the $0.26 support level despite multi-month highs near $0.29 facing rejection last week.
- Futures volume dropped 26% while open interest fell 4% as traders reduced leverage exposure amid uncertainty.
- Technical indicators suggest neutral momentum with potential for $0.32 breakout if ETF approval materializes Thursday.
Dogecoin DOGE $0.27 24h volatility: 0.4% Market cap: $40.08 B Vol. 24h: $3.64 B price rose 1% intraday as bulls defended the $0.26 support level. After testing multi-month peaks near $0.29 on ETF speculation last week, optimism remains strong ahead of Dogecoin ETF verdicts expected Thursday.
However, Elon Musk’s recent moves doubling down on Tesla and Fed rate concerns have imposed short-term bearish sentiment on Dogecoin markets.
Guys…. he’s tweeting about the stock. He’s buying the stock. Daddy’s home.
Tesla is back.
— Greggertruck (@greggertruck) September 15, 2025
On Monday, the billionaire entrepreneur announced a $1 billion purchase of Tesla shares , his first major reaction after Oracle founder Larry Ellison overtook him as the world’s richest man through an AI deal with NVIDIA .
Daddy is very much home.
Am burning the midnight oil with Optimus engineering on Friday night, then redeye overnight to Austin arriving 5am, wake up to have lunch with my kids and then spend all Saturday afternoon in deep technical reviews for the Tesla AI5 chip design.
Fly…
— Elon Musk (@elonmusk) September 16, 2025
Musk further emphasized his focus on Tesla while responding to community speculation on X on Tuesday.
Dogecoin derivatives market analysis, Sept 16, 2025 | Source: Coinglass
Dogecoin derivatives markets also priced in the potential impacts of Elon Musk’s attention shifting towards Tesla, at the expense of projects like Dogecoin.
According to Coinglass, Dogecoin futures trading volume plunged 26.39% to $9.41 billion, while open interest fell 3.85% to $5.35 billion. This represents over $200 million in liquidated open positions despite 1% spot price gains within the last 24 hours.
This signals that while some Dogecoin traders are front-running potential ETF approval with spot purchases, short-term speculators trimmed leverage exposure in response to Musk’s latest pivot towards Tesla and the looming Fed rate decision .
Dogecoin Price Forecast: Can Bulls Reclaim the $0.29 Peak?
Dogecoin price remains in neutral territory, having retraced from the local high of $0.29 last week to hold the $0.26 support line on Tuesday.
If declining open interest triggers sell-offs in spot markets, the Keltner Channel midline near $0.246 offers initial support against downswings. However, a close below that level could see Dogecoin price fall toward the lower boundary at $0.21.
Dogecoin (DOGE) Technical Price Forecast | TradingView
The MACD remains positive but shows flattening momentum, suggesting bulls may be losing ground. For DOGE to retest $0.29, buyers must reclaim the $0.28 resistance zone with volume support.
If the ETF verdict lands favorably, this breakout could validate a run toward $0.32, marking a fresh high for Dogecoin price in 2025.
Conversely, failure to defend $0.26 ahead of the Fed decision could see DOGE fall into a consolidation range between $0.21 and $0.24.
