TLDR
- Dogecoin rallied up to 14% to $0.112 on Wednesday, outperforming the broader crypto market
- Open interest surged 25% in 24 hours to $1.74 billion, signaling growing derivatives activity
- 21Shares launched a physically-backed Dogecoin ETP on Germany’s Xetra trading platform
- A 2023 fractal pattern suggests DOGE could rally over 300% toward $0.33
- Analyst Trader Tardigrade says the weekly chart structure is holding and targets $1
Dogecoin posted gains of up to 14% on Wednesday, hitting an intraday high of $0.112 after bouncing from a low of $0.097. The move came as global risk markets staged a relief rally ahead of the Federal Reserve’s interest rate decision.
The Federal Open Market Committee (FOMC) met Wednesday with markets pricing in a 100% chance rates would stay unchanged at 3.50%–3.75%. DOGE has shown a pattern of rising into FOMC meetings before pulling back afterward.
Analyst Ali Charts posted on X that DOGE broke above the $0.1018 level and was heading toward a $0.1172 target at the top of its price channel.
Dogecoin $DOGE broke above $0.1018, as expected, and is now heading toward the $0.1172 target at the channel top. https://t.co/u6UNRDio4v pic.twitter.com/0jPFMJfnaP
— Ali Charts (@alicharts) April 29, 2026
Dogecoin’s open interest jumped 25% in 24 hours and 46% over two weeks, reaching $1.74 billion. Rising OI alongside rising price is generally viewed as a sign of growing institutional participation.
Open Interest and the ETP Launch
Part of the move was tied to the launch of a physically-backed Dogecoin exchange-traded product (ETP) by 21Shares on Xetra, Germany’s main electronic trading platform. This gave European investors a regulated way to gain exposure to DOGE.
Previous FOMC-linked corrections have been sharp. In March, DOGE dropped 15%, futures OI fell by $890 million, and total liquidations hit $30 million.
2023 Fractal Points to $0.33
Technically, DOGE is following a pattern that mirrors its 2023 price action, when it rallied over 300%. The weekly chart shows the price bouncing off an ascending trendline in place since mid-2022.
A bullish MACD crossover on the weekly chart has confirmed the bounce, matching conditions seen before the 2023 rally.
Analyst Trader Tardigrade said on X that the weekly chart “looks clean,” that the “bottom looks in,” and that the “next leg could send” DOGE to $1.
$DOGE / Weekly
❇️ $1 DOGE — are you locked in?
Weekly chart looks clean: bottom looks in, structure is holding, and if this breaks out, the next leg could send. pic.twitter.com/CKQZfqoo3W
— Trader Tardigrade 🧬 (@TATrader_Alan) April 28, 2026
If the fractal repeats, DOGE could target $0.33 in the coming weeks, representing more than a 300% gain from recent lows.
A key level to watch is the $0.10–$0.11 resistance zone. Breaking and holding above it would provide further confirmation of a trend reversal.
Ali Charts confirmed that DOGE broke above $0.1018 and is now targeting $0.1172 at the channel top.
