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Highlights
- Dogecoin price surged 3% on Friday, surpassing $0.28 for the first time in 10 days.
- Grayscale’s XRP and Dogecoin ETF applications acknowledged by the SEC fueled DOGE’s bullish momentum.
- Polymarket traders now assign a 22% probability to Dogecoin reaching a new all-time high by June 2025.
Dogecoin price gained 3% on Friday ETF speculation and shifting regulatory sentiment fuel investor optimism for further bullish action. Polymarket users are pricing in a 22% chance that DOGE ETF approval sparking new all time highs in Q1 2025.
Dogecoin (DOGE) Extends February Rally as SEC Acknowledges Grayscale ETF Filings
Dogecoin (DOGE) action has been on an uptrend in recent months amid shifting political dynamics in the US. Notably, Elon Musk’s deepening ties with Donald Trump’s administration and the newly-established D.O.G.E. department have reignited investor interest in the memecoin. The bullish momentum strengthened on Friday after the U.S. Securities and Exchange Commission (SEC) formally acknowledged Grayscale’s spot ETF filings for XRP and Dogecoin.
While the acknowledgment does not indicate immediate approval, it marks a departure from the SEC’s historically rigid stance on altcoin ETFs. Under previous leadership, such applications were routinely dismissed or withdrawn under regulatory pressure. The agency’s willingness to engage in discussions about DOGE and XRP ETFs suggests a shifting regulatory landscape that could pave the way for broader altcoin adoption.
“This is a good sign for altcoins. In the past, these assets were told to withdraw immediately after filing. The fact that they remain on the table slightly increases our already optimistic odds of approval.”
- Bloomberg Intelligence ETF analyst, Eric Balchunas via X.com, Feb 15, 2025.
As widely expected, DOGE price reacted positively to the news, rising 3% to break above the $0.29 level for the first time in 10-day dating back to Feb 4 . DOGE’s 3% price gains has been relatively muted, compared to XRP which rose 7% on a similar news catalyst. However, other market indicators suggest Dogecoin traders are anticipating further gains.
Polymarket Traders Anticipate ETF Approval Could Trigger DOGE All-Time High by June 2025
Following the SEC’s acknowledgment of Grayscale’s DOGE ETF application, Dogecoin’s price jumped 3%, fueling speculation that an ETF approval could drive new record highs. While DOGE currently trades at $0.28, prediction market data suggests that traders expect much higher price levels in 2025.
On Polymarket, a crypto-based prediction platform, traders are now assigning a 22% probability that Dogecoin will reach a new all-time high (above $0.73) by June 30, 2025. This probability is up significantly from earlier in the year, reflecting growing optimism around ETF approvals and increasing institutional interest in memecoins.
The trading activity mirrors trends seen in Bitcoin markets before its spot ETF approval. In late 2023, BTC was priced around $30,000, and many traders bet on a six-figure breakout post-ETF approval. The subsequent rally to $50,000 in early 2024 validated these predictions. If Dogecoin follows a similar trajectory, ETF-driven speculation could propel DOGE toward $0.50 and beyond before mid-2025.
As of now, DOGE remains in a consolidation phase, with key resistance levels at $0.30 and $0.35. A breakout above these levels, combined with further regulatory clarity, could set the stage for an all-time high retest later this year
Dogecoin Price Forecast: Close Above $0.32 Could Spark Further Gains
Dogecoin price forecast charts show that the memecoin has gained 15.88% in the past week, rising from $0.24 to a high of $0.2832, with bullish momentum building above the lower Bollinger Band at $0.2183. The price action has reclaimed the Hull Moving Average (HMA) at $0.2745, signaling a potential trend shift. If DOGE sustains its position above this level, buyers could push for a test of the mid-Bollinger Band at $0.2799, aligning with the upper boundary of the descending channel.
A decisive breakout above the midline resistance could drive DOGE toward $0.32, which marks a key psychological and technical level. Beyond this threshold, the upper Bollinger Band at $0.3416 would become the next target. If DOGE closes above $0.32, bullish continuation toward $0.35 and beyond becomes likely. The cumulative volume delta (CVD) has turned positive, confirming growing buy-side pressure, further supporting an upside bias.
Conversely, failure to hold above the HMA may see DOGE retrace toward $0.27, potentially retesting the lower Bollinger Band at $0.2183. A drop below $0.21 would invalidate the bullish structure, exposing DOGE to a deeper correction.
Frequently Asked Questions (FAQs)
1. Will Dogecoin's price reach a new all-time high in 2025?
2. How does the SEC's acknowledgment of Grayscale's DOGE ETF impact price action?
3. What are the key resistance and support levels for Dogecoin?
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