Dogecoin Expands To Solana As DOGE Price Eyes Breakout To $0.355

Kelvin Munene Murithi
May 23, 2025
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Dogecoin Expands To Solana As DOGE Price Eyes Breakout To $0.355

Highlights

  • Dogecoin now live on Solana via Wormhole, using zero-knowledge proof integration.
  • DOGE forms Cup and Handle pattern, with breakout target eyed at $0.355.
  • DOGE futures open interest surged 11% to $2.97B, signaling rising bullish speculation.

Dogecoin is expanding its presence in the cryptocurrency ecosystem by becoming available on Solana. This move comes as technical analysis suggests a possible price breakout toward $0.31, following a bullish chart pattern. The integration is powered by Wormhole’s Native Token Transfers (NTT) framework and utilizes zero-knowledge proofs.

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Dogecoin Integration into Solana Through Wormhole

Wormhole announced the integration of Dogecoin into Solana using its Native Token Transfers (NTT) framework. This upgrade enables DOGE to operate as a Solana-native token. The NTT technology allows seamless multichain transfers while maintaining control over token supply and contract upgrades.

This collaboration was developed with the help of Psy and RISC Zero. These teams used zero-knowledge proofs (ZKPs) to support the secure and verifiable transfer of assets across blockchains. Wormhole stated,

“Bringing DOGE to Solana combines two massive industry forces… and we’re excited Wormhole is the infrastructure provider to make this moment a reality.”

Wormhole claims to have facilitated over $11.5 billion in inflows to Solana. This is reportedly more than any other interoperability platform in the market. With this integration, DOGE joins an ecosystem already hosting major assets and stablecoins across multiple chains.

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DOGE Price Patterns Show a Bullish Signal

According to crypto analyst TraderTardigrade, DOGE’s price chart shows a Cup and Handle pattern forming on the daily time frame, viewed as a bullish continuation pattern. The “cup” part of the pattern took shape over several months, forming a rounded bottom. This shape often appears after a period of price consolidation.

Following the cup, a smaller downward channel formed, known as the “handle.” This segment shows a temporary dip in price before a breakout. The handle has been relatively shallow, which may point to stronger buyer interest and less selling pressure.

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DOGE price recently moved past a resistance zone near $0.245. This area has served as a ceiling for several weeks. If the DOGE price continues above this level with strong trading volume, the chart suggests that DOGE could rise toward the $0.355 mark.

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DOGE Open Interest Soars 11%

As of this writing, Dogecoin is trading at $0.2418 with a market capitalization of $36.12 billion. Over the past 24 hours, DOGE has seen a trading volume of $2.83 billion, marking an increase of over 4%. This bullish rally is irrespective of the recent delayed decision on DOGE ETFs from Grayscale Investments and 21Shares.

Source: Coinglass
Source: Coinglass

In addition, derivative market activity also shows increased interest in Dogecoin. Options volume is up by more than 130% to $349.57 million. Open interest in DOGE futures stands at $2.97 billion, which is up by more than 11%. This growth suggests more traders are positioning themselves for possible price movement.

At the same time, total DOGE spot volume across exchanges decreased by 3.93%. This could mean traders are focusing more on derivatives as they wait for a confirmed breakout above $0.245.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.