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Dogecoin (DOGE) is closing the week with a level of optimism rarely seen in recent times - the current seven-day growth of 5.10% marks the most stable performance since March. The market is showing an interesting paradox: the DOGE price is rising while institutional instruments, such as Dogecoin ETFs in the U.S., are showing zero activity.
On the TradingView chart, it is clearly visible that DOGE has found temporary support around $0.095. Although the asset is still trading well below the key resistance level - the 200-week moving average at $0.136 - the current price action suggests the formation of a local bottom.
The most notable point is the complete absence of support from spot Dogecoin ETFs. According to data from SoSoValue, total assets under management (AUM) have remained at a modest $11.19 million and have shown no movement at all since April 14.
Why DOGE is rising despite zero activity in spot ETFs
The fact that DOGE is delivering its "best week since March" with zero ETF inflows highlights the coin's uniqueness. Unlike Bitcoin, Dogecoin continues to rely on retail participants and speculative expectations, primarily tied to the X ecosystem and speculation around potential integration into XMoney and XChat.
The current growth is a cautious step toward recovery, as for a full return to a bullish phase, Dogecoin still has a long way to go toward the $0.136 level, where the 200-week moving average is located.
However, the asset's ability to rise despite the absence of institutional interest supports a restrained sense of optimism among its supporters. This aligns with last year's pattern, when after April 20, DOGE prices increased by 65% over the following weeks.
While ETF providers remain inactive, Dogecoin is proving that its market pulse is still alive. Holding above $0.095 into the weekly close could serve as a foundation for more decisive moves in May.
Dan Burgin
U.Today Editorial Team
