Dogecoin (DOGE) is back in the spotlight after a week of lackluster trading, as new rumors about potential 401(k) integration have reignited bullish sentiment among investors. The meme-inspired cryptocurrency is currently trading around $0.253, holding steady after rebounding from support near $0.24, with traders closely watching both regulatory developments and technical signals for the next big move.
Dogecoin Price Holds Trendline Support
On the charts, Dogecoin has been consolidating within an ascending channel since June, suggesting a slow but steady grind higher. The lower boundary near $0.23 continues to act as strong support, while resistance at $0.33 remains the upper barrier to beat.
DOGE’s technical setup still leans bullish, supported by all major exponential moving averages (EMAs): the 20-day at $0.248, 50-day at $0.241, and 100-day at $0.230. This alignment underscores a constructive mid-term structure. However, the Supertrend indicator near $0.275 continues to limit upward momentum.
A daily close above $0.275 could flip short-term sentiment decisively bullish, opening targets at $0.30 and $0.33. On the flip side, failure to hold $0.24 could push the price lower toward $0.23 or even $0.22, where previous accumulation zones have provided a safety net.
On-Chain Data Reveals Renewed Interest
Supporting this technical picture, on-chain data from Coinglass shows Dogecoin recorded a $1.85 million positive netflow on October 6, a sharp turnaround after several sessions of moderate outflows. The shift indicates fresh accumulation by retail holders as prices stabilized above the $0.25 mark.
While the figure remains below August’s peak inflows, it stands out as one of October’s strongest positive readings, hinting that traders may be repositioning in anticipation of a potential regulatory catalyst. Importantly, futures open interest has stayed flat, confirming that this recovery is being driven primarily by the spot market, not speculative leverage.
If inflows remain positive through the week, DOGE could retest the mid-channel resistance zone between $0.28 and $0.29.
Rumors Swirl Around SEC 401(k) Approval
The biggest catalyst behind the latest bullish momentum stems from speculation that the U.S. Securities and Exchange Commission (SEC) might soon approve 401(k) providers to include Dogecoin as an investment option. The rumor, first reported by crypto outlet Coinvo, quickly gained traction, garnering over 90,000 views within hours on social media platforms like X.
Although no official confirmation has been issued, analysts say even a pilot inclusion or partial approval could mark a historic turning point for DOGE — paving the way for mainstream adoption and institutional exposure.
Similar to the impact seen with Bitcoin and Ethereum-based retirement products earlier in the year, 401(k) access could significantly broaden Dogecoin’s investor base, transforming it from a meme coin into a legitimate portfolio asset. Traders are now eagerly monitoring SEC communications for any official signal.
Technical Outlook: Balancing Hype and Reality
In the short term, Dogecoin’s price action remains balanced between speculative optimism and technical caution.
Upside targets include $0.275, $0.30, and $0.33, while downside supports are at $0.24, $0.23, and $0.22. A daily close above $0.275 would mark the first bullish Supertrend signal since late September.
With the ascending structure intact and network inflows turning positive, the broader outlook remains cautiously optimistic. The key now lies in whether regulatory headlines can sustain momentum and attract larger inflows.
Outlook: Will Dogecoin Go Up?
The next move for Dogecoin will likely hinge on the authenticity of the SEC rumor and the market’s response. If the speculation proves true, the resulting surge in institutional interest could propel DOGE beyond $0.30, potentially retesting its long-term resistance near $0.33.
Conversely, if the rumors fade without confirmation, the coin may retreat toward lower support zones. Still, as accumulation builds and investor optimism grows, Dogecoin’s broader uptrend remains intact — signaling that the world’s favorite meme coin might not be done surprising the market just yet.