Dogecoin ETF momentum may bring its price to 60 cents – but there is one condition

The first Dogecoin ETF listed in the United States, the REX-Osprey DOGE ETF (DOJE), started trading on Thursday, which sparked bullish sentiment. Dogecoin has soared recently, breaking through the symmetrical triangle pattern that lasted for months, trading volume has tripled, with a short-term target of $0.45 and a subsequent target of $0.60. Key support is near the 50-week moving average (EMA) at $0.227, and falling below it may retest $0.215. The Relative Strength Index (RSI) remains below the overheating level, while an all-time high of 1.35 for MVRV Z value predicts upside potential. Analysts pointed out that Dogecoin's trend is closely related to Bitcoin's performance, but losing support may quickly reverse the rise.