Dogecoin (DOGE) is drawing renewed interest from both analysts and institutional investors after reaching its most oversold monthly technical reading and attracting attention from one of the world’s largest asset managers, Franklin Templeton.
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Crypto analyst Ash Crypto has observed that Dogecoin’s Relative Strength Index (RSI) on the monthly chart has dropped into an unprecedented oversold zone, surpassing even the depths seen during the broader crypto market bottom in 2022. The RSI is a technical indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions.
These extreme RSI values often appear at or near major market bottoms and have led some market watchers to speculate that DOGE may now be establishing a significant base.
DOGE recently touched a three-year low near $0.067 after a nearly 90% decline from its all-time high. However, traders note a modest rebound, with the price rising 1.27% over the past 24 hours to $0.07036. At the same time, DOGE’s 24-hour trading volume reached $417.11 million, with a market capitalization of $12.03 billion.
If buying momentum continues and DOGE overcomes key resistance levels, several analysts project that the memecoin could test upper targets such as $0.45. The recent price action and oversold technical readings have fueled optimism for a potential bullish reversal.
Institutional moves: Franklin Templeton proposes ETF expansion
In a notable development, Franklin Templeton has filed with the US Securities and Exchange Commission (SEC) to expand the scope of its Franklin Crypto Index ETF to include Dogecoin. Franklin Templeton is a leading global investment management firm overseeing trillions in assets, known for its range of mutual funds and ETFs.
The proposed inclusion of DOGE will transform the ETF into a more diversified “crypto basket fund.” This would allow institutional and retail investors to access a wider array of regulated digital assets under one financial product.
The expanded ETF aims to track a broader range of cryptocurrencies, expanding on its existing offerings. The move comes as established asset managers increasingly compete to launch and broaden crypto-focused investment products.
Franklin Templeton’s application with the SEC marks another step in the growing institutionalization of cryptocurrencies and highlights rising confidence in Dogecoin’s place within diversified crypto portfolios.
Mini dictionary: Franklin Templeton, a major US-based global investment management firm, operates a variety of mutual funds and ETFs. The Franklin Crypto Index ETF is an exchange-traded fund designed to offer diversified exposure to a basket of digital assets within a regulated framework.
| ETF Name | Current Holdings | Proposed Addition | Status |
|---|---|---|---|
| Franklin Crypto Index ETF | Multiple cryptocurrencies (excluding DOGE) | Dogecoin (DOGE) | SEC filing submitted |
Market outlook and key drivers
Rising optimism for DOGE is also visible in overall market sentiment, with the broader cryptocurrency market and Bitcoin showing signs of recovery. Market participants indicate that sustained buying above the $0.07 support and a successful break of major resistance zones could provide DOGE with upward momentum.
DOGE’s future performance is now closely tied to the outcome of the SEC’s decision on Franklin Templeton’s ETF proposal, as well as continued support from buyers at critical price levels.
Asset managers and DOGE proponents remain watchful for further regulatory updates that could affect the coin’s inclusion in regulated investment products.
The future trajectory of Dogecoin will depend on both the resilience of buyer support at key levels and how regulators respond to Franklin Templeton’s ETF application.
