New York, Jan 6, 2026, 07:18 EST
- Dogecoin rose about 2.9% to around $0.151 after slipping as low as $0.1465.
- The 21Shares 2x Long Dogecoin ETF (TXXD) was up about 15.6% from its previous close.
- Memecoin market value jumped more than 30% in four days, even as futures positioning showed mixed conviction.
Dogecoin traded near $0.151 on Tuesday, up about 2.9% on the day, after dipping to $0.1465, price data showed. The rally has spilled into leveraged products, with the 21Shares 2x Long Dogecoin ETF up about 15.6% from its previous close. ( CoinDesk)
The move matters now because leveraged exchange-traded funds, or ETFs, can pull short-term money into volatile markets by promising a multiple of a daily price swing. A hot start for a Dogecoin-linked fund points to renewed risk-taking in memecoins after months of uneven trading.
Dogecoin has gained about 30% over the past four days as the wider memecoin category’s market capitalisation rose more than 30% to $47.8 billion, FXStreet reported. It also flagged a rebound from historically low “meme-to-altcoin dominance” — a measure of how much memecoins make up of the broader altcoin market. (FXStreet)
The 21Shares fund, ticker TXXD, aims to deliver twice Dogecoin’s daily performance and uses derivatives such as swaps and futures rather than holding DOGE directly, the issuer says. Because the leverage resets each day, performance over longer stretches can diverge sharply from a simple “two times” bet. ( 21Shares)
“This new ETF gives investors a simplified way to participate in its growth,” Federico Brokate, 21Shares’ global head of business development, said in a statement when the product launched. Leveraged ETFs are typically marketed for short-term trading because daily compounding can magnify losses as well as gains. ( ETFGI)
Derivatives traders have also increased exposure, though not in a straight line. Open interest in Dogecoin futures — an estimate of outstanding contracts — rose to 13.47 billion DOGE on Jan. 2 before easing to 12.68 billion DOGE, FXStreet said, citing Coinglass data.
On the charts, analysts are watching whether DOGE can break above about $0.166, a level highlighted as resistance, after moving above its 50-day exponential moving average — a trend gauge that weights recent prices more heavily. FXStreet said a drop below roughly $0.142 could bring $0.121 into view, while a push higher could test $0.181.
More aggressive targets have returned to the conversation. A technical study shared by crypto analyst Javon Marks argued that repeating past “altcoin season” moves — periods when smaller tokens outperform — would imply a $10 Dogecoin scenario, while also pointing to nearer milestones around $0.65 and $1.25. ( TradingView)
The broader crypto market was also firmer. Bitcoin rose about 1% to $93,865 and ether gained roughly 2% to $3,240, price data showed.
But the same dynamics driving the surge can reverse quickly. Memecoins are prone to sharp swings driven by sentiment, and leveraged ETFs can amplify losses and erode in choppy markets because they rebalance daily.
