Dogecoin Leads Altcoin Gains Amid ETF Buzz and Market Rebound

Dogecoin (DOGE) is showing signs of a bullish reversal after several days of decline, outpacing major altcoins like Ethereum and XRP in daily gains. As of May 1, 2025, DOGE surged 5.89% to trade at $0.1810, according to CoinMarketCap. Despite the price uptick, daily trading volume dropped by 11.01%, indicating cautious investor sentiment.

While broader market momentum has lifted major cryptocurrencies, Dogecoin recorded the biggest gain among the top 10 digital assets by market cap. The memecoin has traded sideways over the past week but is now showing signs of renewed strength. Analysts suggest DOGE could be preparing to break the key $0.20 resistance level if current patterns hold.

Much of the bullish sentiment surrounds speculation about the approval of the 21Shares Dogecoin ETF. The growing interest in this potential investment vehicle has fueled anticipation among both retail and institutional investors. If officially approved, the DOGE ETF could significantly increase demand and drive further price gains.

Chart patterns suggest DOGE is forming lower highs while attempting to stabilize above $0.19—a key threshold for the next leg up. Earlier this week, a spike in trading volume helped trigger a price rebound, and historical trends indicate that a similar surge could push DOGE past the $0.20 mark.

With investor interest rising and ETF rumors gaining traction, Dogecoin is positioning itself as a leading contender in the ongoing meme coin rally. While volatility remains, DOGE’s current momentum could sustain its upward trajectory if buying pressure intensifies.