DOGE, the native coin of the Dogecoin ecosystem, is the best performer among the top 10 cryptocurrencies since the start of the week.

Up 11% in the last seven days, DOGE has outperformed other major cryptocurrencies and could rally higher in the near term.

 DOGE was rallying on Tuesday, in line with the broader cryptocurrency market, before abruptly dumping to the $0.233 level. The flash dump occurred following another crisis in the Middle East, this time between Israel and Qatar.

The dump saw Bitcoin briefly drop to the $110k level, with other major cryptocurrencies also experiencing a dip. However, DOGE is slowly recovering and could be gearing up for a breakout ahead of a crucial day for the memecoin community in the United States.

Bloomberg ETF analyst Eric Balchunas revealed on Tuesday that the Rex-Osprey DOGE ETF ($DOJE) is expected to debut in U.S. markets on Thursday, under the Investment Company Act of 1940.

Meme coin ETF era about to kick off it looks like with $DOJE slated for a Thursday launch, albeit under the 40 Act a la $SSK. There’s a big group of ’33 Act-ers waiting for SEC approval still. Pretty sure this is first-ever US ETF to hold something that has no utility on purpose

This launch would make DOJE the first memecoin ETF in the United States and could potentially open the door for other memecoin ETFs. Investors will be closely watching the fund as it could set the tone for other ETF applications currently being reviewed by the SEC. 

Canary Capital Group recently filed for a spot ETF tied to TRUMP Coin, the Solana-based memecoin linked to President Donald Trump.

The SEC is also reviewing ETF applications for several altcoins, including Solana (SOL), XRP, Cardano (ADA), SEI, Chainlink (LINK), SEI, and Litecoin (LTC). 

The DOGE/USD 4-hour chart is bullish and efficient as the coin has been rallying in recent days. The momentum indicators have also switched bullish, suggesting that buyers are currently in control of the market.

The MACD lines are deep within the bullish territory, while the RSI of 66 shows that DOGE could soon enter the overbought region if the current market trend persists. 

After sweeping the low at $0.233 following Israel’s strike in Qatar, DOGE has resumed its upward movement and is now trading at $0.24065. If the bullish trend continues, DOGE could surge past the $0.25 mark for the first time since August 13.

An extended bullish run would allow DOGE to hit the $0.30 mark for the first time this year. However, it would need the support of the broader crypto market to surpass the July high of $0.288.

On the flip side, DOGE could undergo a correction following days of bullish movements. If that happens, DOGE could retest the TLQ at $0.233. Failure to defend this level could see DOGE drop to the $0.210 support region in the near term.

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