Dogecoin (DOGE) rebounded from midday selling pressure, closing up 1% at $0.213 despite a 4% intraday swing. Elevated trading volume, roughly 21% above weekly averages, points to strong market participation driven by whale accumulation and ETF-related speculation.

Market optimism surrounding potential DOGE ETF approval and anticipated Federal Reserve rate cuts has fueled investor activity. Polymarket odds for a DOGE ETF approval jumped to 71% from 51% ahead of October deadlines, reflecting growing bullish sentiment.

Price Action: DOGE opened near $0.211, dipping to $0.207 during a midday selloff, with 811M tokens changing hands. Recovery momentum lifted the token to $0.215 by 21:00 GMT, supported by 949M tokens traded. Late-session buying drove DOGE from $0.21 to $0.22 on 21M tokens, underscoring continued demand.

The broader macro backdrop, including expectations for up to four Fed rate cuts by year-end, continues to support risk-on flows in the crypto market, benefiting DOGE and other altcoins.