The Dogecoin (DOGE) market exhibits a neutral bias, caught between anticipation of ETF approvals and significant capital outflows. XRP's movements indirectly boost sentiment, while G7 regulations enhance market credibility. However, macroeconomic uncertainties and the risk of a Bitcoin correction exert downward pressure.

・XRP Poised to Break Past All-Time High, $15 Target in Sight XRP is approaching a quarterly close at its all-time high, potentially mirroring the market dynamics that led to its 37,800% surge in 2017. On-chain data further supports a bullish outlook, fueling expectations for a significant XRP price increase. This anticipated rise could positively influence other altcoins, particularly those with similar use cases. While Dogecoin has no direct correlation, it could benefit from the resulting improvement in overall market sentiment. ・Stablecoin Regulation Progress in G7 Nations G7 countries are advancing stablecoin regulations, with the US introducing new legislation, the EU implementing the MiCA framework, and Japan operating under its existing system. These developments are expected to enhance the credibility of stablecoins and encourage broader institutional investor participation. While Tether (USDT) and USD Coin (USDC), pegged to the US dollar, currently lead the market, stablecoins pegged to national currencies are beginning to emerge. Although Dogecoin is not a stablecoin, the refinement of the regulatory environment increases transparency across the cryptocurrency market, supporting long-term growth. ・Significant Outflows from Digital Asset Funds Last week saw outflows totaling $812 million from digital asset investment products, largely attributed to fading expectations of US interest rate cuts. The decrease in total Assets Under Management (AUM) signals cooling investor sentiment. Such substantial outflows tend to dampen overall market sentiment, exerting downward pressure on the prices of major cryptocurrencies, including Bitcoin. Dogecoin is unlikely to be an exception, potentially feeling the effects of prevailing market weakness. ・Bitcoin (BTC) Correction Towards $108,000 Anticipated While Bitcoin aims for a recovery by the end of September leading into month-end and quarter-end closes, analysts suggest a potential correction towards $108,000. The ongoing record highs in gold might increase interest in risk assets generally. However, macroeconomic uncertainties and the Federal Reserve's policy direction remain key factors contributing to market volatility. Risk assets like Dogecoin are particularly susceptible to such market fluctuations, potentially facing intensified downward pressure during correction phases. ・October Declared "ETF Month" as 16 Crypto Funds Await Final Decisions October marks a critical period with 16 cryptocurrency Exchange-Traded Funds (ETFs) awaiting final decisions from the US Securities and Exchange Commission (SEC), potentially heralding a new wave of crypto ETFs. These funds are linked to several major altcoins, including Solana (SOL), XRP (XRP), Litecoin (LTC), and Dogecoin (DOGE). ETF approvals could further stimulate institutional adoption and drive price appreciation for the associated cryptocurrencies. Specifically, the approval of Dogecoin-related ETFs could lead to expectations of direct capital inflows into the coin. ・Bitcoin (BTC) Bull Market Intact; Recovery Above $112,000 Signifies Strength Analysts maintain that the bull market for Bitcoin remains intact despite recent volatility. The cryptocurrency briefly surpassed $112,000 earlier in the week, showing signs of recovery. This could improve overall market sentiment and create a positive spillover effect for other altcoins. Dogecoin may follow Bitcoin's upward trajectory. However, analysts also caution about the possibility of further significant corrections, advising vigilance regarding short-term price movements. ・Bitcoin (BTC) Compared to Nvidia; Stocks in the AI Era Analysts position Bitcoin as part of the broader Artificial Intelligence (AI) trade, drawing parallels with AI-centric stocks like Nvidia. As AI continues to reshape economies and markets, Bitcoin's future hinges on its ability to solidify its status as "digital gold." The growth driven by AI is expected to impact the stock market broadly, indirectly influencing the cryptocurrency space. While Dogecoin has limited direct ties to AI, the overall market optimism generated by AI-driven technological innovation could potentially boost investor appetite for risk assets. ・SWIFT Partners with Consensys to Build Blockchain Payment System SWIFT, the global financial messaging cooperative, is collaborating with Consensys, an Ethereum ecosystem developer, to build a blockchain-based payment system. The initiative aims to enable 24/7 real-time cross-border payments. This partnership signifies the convergence of traditional finance (TradFi) and blockchain technology, potentially accelerating the transformation of financial infrastructure. Such infrastructural evolution could enhance the credibility and utility of cryptocurrencies overall, contributing to long-term price appreciation. It also hints at the possibility of cryptocurrencies like Dogecoin being utilized within such payment systems in the future. 【Overall Summary】 Last week, the cryptocurrency market presented a complex landscape, shaped by intersecting factors including optimism surrounding XRP's price potential, regulatory advancements for stablecoins in G7 nations, and significant outflows from certain funds. While anticipation for ETF approvals in October may positively impact altcoins like Dogecoin, risks associated with Bitcoin price corrections and macroeconomic uncertainties cannot be disregarded. Overall, while regulatory clarity and technological innovation progress, market volatility is expected to remain elevated.

Key downside risks include significant capital outflows driven by US interest rate trends, the potential for a Bitcoin correction, and macroeconomic uncertainties. Breaching the upper Bollinger Band could also signal overheating. While identifying specific support levels is challenging, sudden shifts in market sentiment represent the primary risk factor.

The upcoming 24-48 hours are likely to focus on establishing market direction. Sentiment surrounding the final ETF decision in October could provide short-term support. For the medium term (one-week horizon), expect continued volatility, with Bitcoin's price action, the SEC's ETF ruling, and macroeconomic indicators acting as key catalysts.

The DOGE market is caught between the anticipation of ETF approval and the pressures of significant capital outflows and macroeconomic uncertainty, making a neutral stance the optimal approach. Short-term volatility remains high, requiring a cautious approach. The primary catalyst remains the final ETF decision expected in October. Entries should be considered near support levels after confirming a recovery in Bitcoin (BTC). Profit-taking should target gradual upside movements, while stop-losses should be placed below support levels, enforcing strict risk management. Key watch items this week include the SEC's ETF ruling and macroeconomic indicators. Resist short-term fluctuations and maintain the strategy with a long-term perspective. Trust in market recovery, seizing opportunities with sound judgment and disciplined risk management.