Dogecoin Longs Surge as ETF Rumors Grow, Is $0.47 the Next Price Target?

Dogecoin (DOGE) has faced intense volatility this month, with its performance mimicking the choppy moves across the broader market due to multiple macro factors, including geopolitical tensions. Dogecoin price is trading at $0.16 today, June 27, with a slight 0.3% decline in 24 hours. However, after defending critical support levels as bullish long bets surge and DOGE ETF approval rumors grow, can the price hit $0.47?

Dogecoin Price Holds Steady as ETF Hype Sparks Bullish Signs

Dogecoin price may be under intense volatility, but bulls are successfully defending key support levels. Since November 2024, the $0.13 level has been acting as strong support, a sign that buyers have been stepping in at around this price level to avoid a steep decline.

One of the reasons why this critical support level is holding is the optimism around a spot DOGE ETF approval. Polymarket data shows that currently, 70% of traders believe that this ETF will be approved before the end of the year.

The speculation on approval swirled yesterday after Bitwise filed an amended S-1 for a DOGE ETF. Bloomberg analyst Eric Balchunas opined that the recent filing was a “good sign,” signaling that the SEC was engaging with the issuers.

This development sparked optimism among futures traders. It saw increased demand for long positions as traders opened speculative bets that the Dogecoin price is about to rebound. As Coinglass data shows, the DOGE long/short ratio has surged past 1 for the first time in four days.

At the same time, Dogecoin’s funding rate remains positive, a sign that these long traders are willing to pay a fee to maintain their positions. Amid the positive market sentiment, how high will the price of this top meme coin go?

DOGE Targets $0.47 as Double Bottom Emerges

Dogecoin long traders could be front-running a potential price rally as a double-bottom pattern appears on the weekly timeframe. In most cases, this double bottom indicates that a sharp reversal to the upside is about to occur.

The key support level to watch in this pattern lies at $0.142. Bulls defended this support successfully in April 2025 and are doing it again. If it holds and the upward reversal commences, the first price target will be the neckline resistance at $0.26. If bulls overcome this hurdle and flip it to support, the target of this pattern lies at $0.47.

The ADX supports this bullish Dogecoin price prediction by sloping downwards. This indicates that the downward trend that began at the neckline resistance is growing weak, giving room for a recovery to happen.

However, DOGE price might consolidate around this support level if the RSI indicator remains below the mean level of 50. While the indicator is tipping north to show there is an uptick in buying activity, crossing above the mean level will validate the bullish thesis of a rally to $0.47.

To sum up, Dogecoin price is at a crucial juncture as optimism towards the approval of a spot DOGE ETF surges. Long traders seem to be anticipating a recovery as bulls defend the double-bottom support at $0.142. If retail traders and whales start accumulating DOGE at this price, the double-bottom target of $0.47 could be realized.

Frequently Asked Questions (FAQs)

1. How will a spot Dogecoin ETF approval impact the price?

A spot Dogecoin ETF approval will have a bullish impact on the price. If this product is approved, it will draw constitutional interest towards DOGE and fuel retail FOMO.

2. What does the surging long/short ratio show about DOGE price?

The surging long/short ratio indicates that most traders are opening long positions on Dogecoin. It shows optimism that Dogecoin price will recover.

3. Can Dogecoin price recover and reach $0.47 in July 2025?

Dogecoin price may recover and reach $0.47 if it continues trading within the double bottom formation on the weekly timeframe.

✓ Share:

• TAGS
• Dogecoin (DOGE)
• dogecoin etf

• Trending
• Price Analysis

• SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes
• Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze
• Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500
• MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings
• Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill

• Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
• Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
• ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?
• Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?
• ONDO Price Prediction Amid Bitget Collaboration on Tokenized Stocks and ETFs: Is $2 Next?

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

muthoni

Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.

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.