The recent announcement from the U.S. Securities and Exchange Commission (SEC) regarding the delay of Bitwise Invest’s Dogecoin (DOGE) ETF application has sent ripples through the cryptocurrency market. As reported by Eleanor Terrett on Twitter at 10:30 AM UTC on April 29, 2025, the SEC has postponed its decision on the proposed DOGE ETF until June 15, 2025 (Source: Eleanor Terrett Twitter Post, April 29, 2025). This delay was officially documented on the SEC’s website, confirming the extended review period for Bitwise’s application to list a Dogecoin-based exchange-traded fund (Source: sec.gov, April 29, 2025). Immediately following the announcement, DOGE experienced a notable price dip of 4.2%, dropping from $0.1423 at 10:00 AM UTC to $0.1364 by 11:00 AM UTC on April 29, 2025, as per data from CoinMarketCap (Source: CoinMarketCap, April 29, 2025). Trading volume for DOGE surged by 18% within the first hour of the news, reaching 1.2 billion DOGE traded across major exchanges like Binance and Coinbase between 10:30 AM and 11:30 AM UTC (Source: Binance and Coinbase Exchange Data, April 29, 2025). This spike in volume indicates heightened trader interest and potential panic selling amid uncertainty about the ETF approval. On-chain metrics from Glassnode also revealed a 9% increase in DOGE wallet transactions during the same timeframe, with active addresses rising from 85,000 to 92,500 by 12:00 PM UTC on April 29, 2025 (Source: Glassnode, April 29, 2025). This suggests that retail investors are reacting swiftly to the news, possibly repositioning their holdings. For traders searching for 'Dogecoin ETF news' or 'DOGE price impact SEC delay,' this event marks a critical moment to monitor market sentiment around meme coins and ETF regulatory developments.

The trading implications of this SEC delay are significant for both short-term and long-term DOGE investors. The immediate 4.2% price drop reflects a bearish sentiment, as traders interpret the delay as a potential signal of regulatory hesitation toward meme coin-based financial products (Source: CoinMarketCap, April 29, 2025). Analyzing trading pairs, DOGE/BTC saw a decline of 3.8% from 0.0000021 BTC to 0.0000020 BTC between 10:30 AM and 1:00 PM UTC on April 29, 2025, while DOGE/USDT dropped by 4.5% in the same period on Binance (Source: Binance Trading Data, April 29, 2025). This suggests a broader loss of confidence across multiple trading pairs. Furthermore, the surge in trading volume—reaching $180 million in DOGE/USDT trades on Binance alone by 12:30 PM UTC—indicates a potential capitulation phase, where weak hands may be exiting positions (Source: Binance, April 29, 2025). For traders eyeing 'Dogecoin trading strategies' or 'meme coin volatility,' this could present a buying opportunity if support levels hold near $0.1350, as observed at 2:00 PM UTC on April 29, 2025 (Source: CoinGecko, April 29, 2025). On the flip side, the delay could dampen institutional interest in DOGE, especially as competing assets like Bitcoin ETFs continue to gain traction. On-chain data from Santiment shows a 7% drop in large holder accumulation (wallets holding over 1 million DOGE) between 11:00 AM and 3:00 PM UTC on April 29, 2025, signaling potential bearish pressure from whales (Source: Santiment, April 29, 2025). Traders should remain cautious and watch for further regulatory updates, as the June 15 deadline looms large over DOGE’s price trajectory.

From a technical perspective, DOGE’s price action post-announcement shows critical indicators that traders must consider. The Relative Strength Index (RSI) for DOGE dropped to 42 on the 1-hour chart by 1:30 PM UTC on April 29, 2025, indicating oversold conditions that could precede a rebound if buying pressure returns (Source: TradingView, April 29, 2025). The Moving Average Convergence Divergence (MACD) also signaled a bearish crossover at 12:15 PM UTC, with the MACD line falling below the signal line, reflecting downward momentum (Source: TradingView, April 29, 2025). Support levels are currently tested at $0.1355, as seen at 3:30 PM UTC, with resistance forming near $0.1400 based on order book data from Kraken (Source: Kraken Exchange Data, April 29, 2025). Volume analysis further supports a cautious outlook, as DOGE’s 24-hour trading volume spiked to $1.8 billion by 4:00 PM UTC on April 29, 2025, a 22% increase from the previous day’s $1.47 billion (Source: CoinMarketCap, April 29, 2025). This high volume, paired with declining prices, often signals distribution rather than accumulation. For those searching 'DOGE technical analysis' or 'Dogecoin price prediction,' monitoring the $0.1350 support level is crucial in the coming hours. Additionally, while this news does not directly tie to AI-related developments, it’s worth noting that AI-driven trading algorithms may amplify volatility, as bots react to sentiment shifts. Data from CryptoQuant indicates a 5% uptick in algorithmic trading volume for DOGE pairs between 11:00 AM and 2:00 PM UTC on April 29, 2025, suggesting automated systems are capitalizing on the price dip (Source: CryptoQuant, April 29, 2025). Traders should stay vigilant, as such AI-driven activity could exacerbate short-term price swings while the market digests the SEC’s delay.

FAQ Section:
What does the SEC delay mean for Dogecoin price? The SEC’s decision to delay Bitwise’s DOGE ETF application until June 15, 2025, has triggered a 4.2% price drop for DOGE as of 11:00 AM UTC on April 29, 2025, reflecting bearish sentiment among traders (Source: CoinMarketCap, April 29, 2025). This could signal further downside if support levels fail.
Is now a good time to buy DOGE? While DOGE’s RSI indicates oversold conditions at 42 by 1:30 PM UTC on April 29, 2025, traders should wait for confirmation of support at $0.1350 before entering positions (Source: TradingView, April 29, 2025). Volume and whale activity will be key indicators to watch.