Dogecoin (DOGE) has retraced to the 0.618 Fibonacci level, suggesting a potential rebound to a new ATH of $2.30.The SEC's acknowledgment of Grayscale's DOGE ETF application boosts optimism with a 76% chance of approval by year-end.Analysts believe that the 0.618 Fibonacci level is a key point for DOGE's price bounce during downtrends.A potential DOGE ETF approval would provide American investors with additional exposure to the token without purchasing it from exchanges.