The highly anticipated debut of the first Dogecoin ETF has hit another snag. The DOJE ETF, backed by Rex-Osprey, will not begin trading this week as initially expected. According to a tweet from Bloomberg ETF analyst Eric Balchunas, the launch is now postponed to mid-next week, possibly Thursday.

This is the second delay for the fund, which was first expected last Thursday, then rescheduled for Friday. The repeated postponements are causing disappointment and speculation within the crypto community.

Why the Delay? Speculation is Ramping Up

The firm has not publicly disclosed a specific reason for the delay. However, the crypto community is buzzing with theories.

A popular speculation is that the company is strategically waiting for a Federal Reserve interest rate cut. A dovish move from the Fed would create a more favorable macroeconomic environment for risk-on assets like meme coins, potentially giving the ETF a stronger launch.

This delay is part of a broader trend. The U.S. Securities and Exchange Commission (SEC) has also postponed its decision on the Bitwise Dogecoin ETF, citing the need for more time to complete its review. In total, over 90 crypto ETF applications are currently pending before the SEC.

Dogecoin Price Defies the News with a Rally

Interestingly, DOGE’s price is completely ignoring the delay news. The meme coin is showing impressive strength, breaking through key resistance levels.

• Current Price: $0.26
• 24h Gain: +3.6%
• 7-Day Gain: +20.3%

The price has successfully flipped the tough $0.24 resistance zone into a new support level, confirming a bullish structure of higher highs and higher lows.

Technical Outlook: What’s Next for DOGE?

The technical picture remains optimistic despite the ETF setback.

• Next Resistance: $0.27. A decisive break above this could open the path to $0.285 and even $0.30.
• Key Support: $0.24, followed by stronger support at $0.23.

The RSI is at 67.37, nearing overbought territory but not yet indicating a reversal. The MACD is still in bullish territory, though it’s beginning to flatten, suggesting momentum might be stabilizing for now.

The Bottom Line

While the delay of the Dogecoin ETF is frustrating for proponents, it hasn’t dented the market’s bullish spirit. The fact that a meme coin with “no intrinsic utility” is even on the verge of getting an ETF is a historic milestone in itself, symbolizing the merging of traditional finance and internet culture. For now, traders are focusing on DOGE’s strong technicals, and all eyes will be on mid-next week for the next potential launch date.