Dogecoin Surges 4.328% Amid Bullish ETF Hopes

Dogecoin's latest price was $0.2445, up 4.328% in the last 24 hours. This surge indicates increased market activity and speculative interest in the cryptocurrency. Analysts have highlighted a Bull Pennant pattern in Dogecoin's hourly price, which is a technical analysis pattern that forms when the price of an asset consolidates between two converging trendlines after a sharp move. This pattern is similar to a Flag pattern, but with triangular consolidation channels instead of parallel ones. Bull Pennants are considered continuation patterns, meaning a breakout is more likely to occur in the same direction as the preceding move. In this case, the breakout would be upward, as the pole of the pattern is pointing in the up direction. The analyst shared a chart showing that Dogecoin's price has recently climbed beyond the upper line of the pattern, but it is still unconfirmed whether this is a real breakout. If it is, then Dogecoin could see a rally of a similar scale as the pole of the pattern, with a breakout target at around $0.31.

Dogecoin has been in the spotlight as Grayscale's application for a spot Dogecoin ETF remains under review by the United States Securities and Exchange Commission. The SEC has yet to deliver a final verdict on over 70 altcoin ETF filings, including Dogecoin. Grayscale first initiated its DOGE Trust in January 2025 and officially filed for the ETF conversion in March, but the agency continues to cite the need for additional analysis to ensure compliance with Section 6(b)(5) of the Exchange Act. The next decision date for DOGE's ETF is set for June, but even this does not guarantee approval. Polymarket odds of a green light before the end of July have surged to 23%. This delay is standard procedure for 19b-4 filings, with October remaining the final deadline for many of these products.

Dogecoin's price is gearing up for an explosive breakout, with market watchers putting across bullish Dogecoin price predictions. In the last month, DOGE's price saw its MACD flip positively, holding critical support above $0.22. With the price of DOGE now consolidating above key support levels, onlookers are setting bullish Dogecoin price predictions that could see the leading meme coin surpass the fabled $1 price target. After a devastating drop of over 70% from peak prices late last year, DOGE is finally making a comeback as its price rebounds from the 0.786 Fibonacci Retracement zone. Dogecoin has managed to break through its previous downturn, with its price currently consolidating above the $0.20 support. Even so, DOGE still faces major selling pressure at the $0.26 mark. Dogecoin's RSI signals also show that DOGE's price is retesting overbought levels now that RSI is below 55.49. However, analysts are setting up bullish Dogecoin price predictions based on a combination of DOGE's RSI with the meme coin's higher highs on the price chart. According to some chart watchers, this combination sets up a hidden bullish divergence that often appears right before an upward streak continues.

Dogecoin's market is maturing with the advent of institutional investors seeking more stable derivatives of the popular meme coin. Dogecoin has gained popularity against the backdrop of its upcoming ETF approval by the SEC. There has been an increase in on-chain investor activity in anticipation of DOGE's institutional adoption. Increased institutional interest towards DOGE will render Dogecoin's price less volatile, even while DOGE's network activity surges 990%. Therefore, for investors seeking meteoric gains, the best opportunity to retire is in upcoming presale tokens with bullish potential.

The coveted $1 DOGE valuation is inching closer, with a 44% surge on the monthly bolstering the near-term Dogecoin price prediction. DOGE is now testing the upper boundary of a two-week consolidation range between $0.20 and $0.25. Clear of this hurdle, DOGE could have a claim to the “best crypto to buy” conversation.