Dogecoin Price Reclaims Bullish Pennant Amid Rising ETF Inflows
Dogecoin's price has reclaimed its monthly bullish pennant after a brief breakdown, according to crypto analyst Trader Tardigrade. This recovery maintains the overall continuity pattern and could potentially lead to a breakout.
At the time of writing, DOGE is trading at $0.04991 with 24-hour trading volume of $2.94 billion and a market capitalization of $17.04 billion. The token is down 5.23% over the last 24 hours.
The analyst pointed out that the breakdown was a false one, not indicating a confirmed bearish breakout. Instead, the price reverted to its prior range, maintaining the bullish pennant formation.
Additionally, DOGE ETF inflows provide an additional positive signal for Dogecoin's price. On September 22, the spot Dogecoin ETFs in the United States experienced an inflow of 11.74 million DOGE, valued at around $1.17 million.