Dogecoin jumps 12% pre-FOMC after 21Shares lists DOGE ETP

Dogecoin rose about 12% on Wednesday, reaching an intraday high of $0.112 from a low near $0.097, outpacing the broader crypto market. Futures open interest across exchanges rose 25% over 24 hours and about 46% over two weeks to $1.74 billion.

The price move coincided with 21Shares listing a physically backed Dogecoin exchange-traded product on Xetra. The ETP holds Dogecoin as its underlying asset and is listed on Germany’s electronic trading platform.

Markets were positioned for the Federal Open Market Committee meeting, with traders assigning a 100% probability that the Fed would leave the target rate at 3.50%–3.75%. Dogecoin has often advanced in the days before FOMC meetings and shown mostly negative returns afterward; in March a roughly 15% DOGE decline coincided with about $890 million falling out of futures open interest and roughly $30 million in liquidations linked to DOGE positions.

Technical indicators show the weekly chart mirroring a 2023 fractal that preceded a roughly 300% rally. The price has bounced off an ascending trend line in place since mid-2022, and a bullish moving average convergence divergence crossover has been recorded. A trader posting as Tardigrade on X wrote, “Weekly chart looks clean: bottom looks in, structure is holding,” and added the next leg could send DOGE higher.

Further confirmation of a trend reversal would require the DOGE/USD pair to clear the $0.10–$0.11 resistance zone. The concurrent rise in price and open interest reflects increased activity in futures markets, which can improve liquidity and also amplify volatility during rapid reversals.