Dogecoin Price Rises as SpaceX Inches to Join Nasdaq 100
Dogecoin (DOGE) price climbed by 2% over the past 24 hours to $0.0753 as Elon Musk’s SpaceX is set to join the Nasdaq-100, slightly outperforming a flat market.
With about $12 billion in market capitalisation, DOGE trading volume plunged 42% on the day to $560 million in transaction value, according to data from cryptocurrency exchanges.
The plan to move SpaceX to Nasdaq 100 boosted investors’ optimism. SpaceX became one of the quickest additions ever to the Nasdaq-100 index, setting up a fresh wave of buying from passive investors less than a month after the company’s blockbuster public debut.
Nasdaq announced after the close Friday whether SpaceX qualifies for inclusion in the benchmark technology index. Assuming the company meets the requirements, index-tracking funds and other product sponsors would begin purchasing shares after the market closes on July 6, with SpaceX officially joining the Nasdaq-100 before trading begins on July 7.
The aerospace and satellite company is expected to enter the index with a weighting of less than 1%. Adding SpaceX this quickly would make the Elon Musk company one of the first beneficiaries of Nasdaq’s recently adopted fast-track inclusion framework for newly public companies.
Dogecoin’s price is rebounding after testing a multi-year low near $0.072 on June 26. The RSI14 reading of 25.61 indicates deeply oversold conditions, which have historically triggered short-term bounces as sellers exhaust.
Crypto analysts, however, said the bounce is more a function of market structure and momentum exhaustion than a new bullish catalyst.
Despite launching in November 2025, the three U.S. spot Dogecoin ETFs have gathered a meagre $12.4 million in net inflows.
This pales in comparison to over $1 billion attracted by spot XRP ETFs in the same period, highlighting a profound lack of demand from both traditional and crypto-native investors.
Crypto analysts said this is bearish for DOGE because steady ETF inflows are a key indicator of durable, institutional-grade demand.
The immediate path hinges on holding the $0.074 support. If it holds, the next key resistance is the 7-day simple moving average near $0.079. A decisive break below $0.072 could accelerate selling toward the next support near $0.070.
The bias is neutral to cautiously bullish for a relief rally, but the longer-term downtrend remains intact. Bitcoin’s price action, with DOGE’s beta remaining high, suggests a drop in BTC below $59k could pressure altcoins like DOGE.
Dogecoin’s bounce is a technical correction within a broader downtrend, fueled by oversold conditions and a lack of new selling pressure at key support. DOGEUSD – Dogecoin Slides to $0.10 on Memecoin Selloff
