Dogecoin price has shown signs of bullish momentum after reclaiming its monthly bullish pennant following a false breakdown. As of writing, DOGE trades at $0.04991 with a market cap of $17.04 billion, down 5.23% in 24 hours. Analyst Trader Tardigrade described the breakdown as a liquidity sweep, keeping the continuation pattern intact. Meanwhile, spot DOGE ETF inflows of 11.74 million coins ($1.17 million) were recorded on September 22, adding to positive sentiment. Technical indicators like the MACD show increasing momentum, though full confirmation is pending.
Dogecoin price has demonstrated signs of bullish momentum after reclaiming its monthly bullish pennant following a recent false breakdown. According to analyst Trader Tardigrade, the breakdown was a false one and did not indicate a confirmed bearish breakdown. He referred to the move as “a liquidity sweep”, in which the temporary breakdown removes positions ahead of the price reverting to its prior range.
At the time of writing, DOGE is trading at $0.04991 with a 24-hour trading volume of $2.94 billion. The token is down 5.23% over the last 24 hours. The Bollinger Bands show the asset had previously been trading at $0.09956, near the upper band of $0.09972, while the middle band sits at $0.08774.
The MACD indicator also provides a somewhat similar but conservative signal, with a value of about 0.00156 against a signal line of 0.00198. Histogram bars recently turned positive, indicating increasing momentum after the recent fall.
On September 22, analyst Crypto Patel shared that the spot Dogecoin ETFs in the United States experienced an inflow of 11.74 million DOGE, valued at around $1.17 million. This inflow was also seen for other U.S. spot crypto ETFs such as Bitcoin, Ethereum, and Solana.
The $0.10 zone is expected to continue serving as a key landmark as the market tries to determine whether the recovery can turn into something more significant. ETF flows will also be key—positive DOGE allocations in upcoming sessions would signal increased demand from regulated investment vehicles.
