- Bitwise updates its Spot Dogecoin ETF filing under Section 8(a) to allow the fund to automatically become effective after 20 days unless the SEC intervenes.
- Dogecoin price correction challenges the major support trend line of the $0.16 ascending channel pattern.
- The decreasing open interest trend line associated with DOGE futures indicates a lack of speculative power to support a bullish rebound.
DOGE, the largest meme cryptocurrency by market capitalization, fell 3.5% during Thursday’s U.S. market hours. This pullback is in line with the broader market decline, as yesterday’s relief rally likely regained bearish momentum. Although the risk of a prolonged correction remains, Dogecoin price may seek suitable support in the near future, as asset manager Bitwise has filed a Section 8(a) renewal application for the Spot Dogecoin ETF, indicating a potential launch in late November.
Bitwise advances spot Dogecoin ETF with Section 8(a) filing
Bitwise is one step closer to offering the Spot Dogecoin ETF to the world by filing a new application that will automatically become effective for registration under Section 8(a) of the Securities Act of 1933. The move, noted by Bloomberg analyst Eric Balchunas, signals the company’s desire to allow the fund to take effect after a 20-day grace period unless the SEC intervenes.
The November 6, 2025 filing names the product as the “Bitwise Dogecoin ETF,” and it is the latest example of an issuer using the auto-validation route during the ongoing government shutdown. This process allows registration filings to be filed on time despite limited regulatory capacity.
Whether the schedule is maintained depends on what happens in Washington. If the government reopens and the SEC resumes full-scale operations, the review period could be accelerated if there are no objections. Meanwhile, further comments from the authorities would delay the process beyond the default 20 days.
Although the current SEC leadership has not said anything about Bitwise’s products, Chairman Paul S. Atkins acknowledged this week that many companies are effectively relying on similar legal provisions to go public, pointing to MapLite’s public offering and the Solana, Hedera, and Litecoin ETFs that were launched under similar circumstances.
In addition to Dogecoin, Bitwise also amended its proposed XRP ETF last week, changing its listing location to the New York Stock Exchange and changing its management fee to 0.34%, both of which appear to be in late stages of ETF preparation.
Meanwhile, Dogecoin futures open interest also fell 6% from Monday, from $1.51 billion to $1.41 billion, according to data from Coinglass, indicating a decline in leveraged positioning as the ETF’s approval draws attention.
Dogecoin price at risk of significant decline due to channel support
This week, Dogecoin price witnessed a decline from a trading value of $0.186 to $0.161, with a predicted loss of 13.41%. The current correction is currently swinging around the support trend line of the long-term channel pattern on the daily chart.
Since March 2025, price has been resonating strictly within the two uptrend lines of the channel pattern, which is driving a slow but steady recovery trend. However, Dogecoin price faces the risk of a bearish break below the chart pattern as broad market sentiment remains tense.
Once Dogecoin price loses the $0.16 floor at the close of the daily candlestick, the selling pressure will accelerate and test the next key support at $0.13.
On the contrary, the last two daily candles on the Dogecoin price chart show a long tail rejection at the lower trendline of the pattern, indicating that demand pressure is intact. Therefore, if the coin price can maintain this support in the coming weeks, buyers could regain bullish momentum and rally towards $0.188.
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