Dogecoin price could see a potential surge to $1. A tweet from Coinpedia Markets highlighted a major development that could lead DOGE to this milestone.
Historically, DOGE has seen rapid price jumps, often driven by social media hype and major exchange listings. With technical indicators pointing to a possible breakout, DOGE could be set for another rally.
What you'll learn 👉
Bitwise Files for a Dogecoin ETF
Bitwise’s new ETF application has raised questions regarding Dogecoin’s long-term sustainability, according to Coinpedia Markets’ tweet. The action might open the door for institutional adoption, much like Bitcoin ETFs did.
If accepted, it would make DOGE more accessible to a wider spectrum of investors, boosting market stability and liquidity. Expectations of more inflows have already caused the community to respond favorably, raising DOGE’s price. ETF approvals in the past have triggered strong market reactions, making this development crucial.
BREAKING NEWS: Bitwise Files for #Dogecoin ETF in Delaware 💥
— Coinpedia Markets (@MarketCoinpedia) January 23, 2025
How $DOGE is going to $1? 🔥🚀
1⃣Historically, #DOGE has shown its ability to rally sharply on the back of positive trends, such as Elon Musk’s tweets and listings on major exchanges.
2⃣If the Dogecoin #ETF gets… pic.twitter.com/K6d8brwrfw
DOGE Price Analysis Points to Bullish Momentum
DOGE is currently trading near $0.3572, with analysts noting key breakout levels. Coinpedia Markets referenced a symmetrical triangle formation, indicating a potential price surge.
A breakout above $0.36226 could confirm bullish momentum, with the next resistance at $0.40. Beyond that, $0.48464 stands as a major hurdle before DOGE can attempt a rally toward $1.
The RSI remains in a favorable zone, reinforcing the possibility of an uptrend. A surge in trading volume would further validate the bullish case.
Key DOGE Price Levels to Monitor
The first major resistance stands at $0.40, followed by $0.4520. Breaking past these levels could fuel a 185% rally toward $1.
On the downside, key support lies between $0.2700 and $0.2900. If DOGE fails to maintain bullish momentum, historical support at $0.1600 may come into play. However, with positive sentiment surrounding the ETF news, investors remain optimistic.
Read also: Could ONDO Hit $3 Soon? ONDO Price Prediction
Will Dogecoin Hit $1?
The possibility of DOGE reaching $1 hinges on both technical and fundamental factors. The symmetrical triangle pattern suggests a strong breakout potential. A confirmed move above $0.40 could propel the price toward higher targets.
Market sentiment and the outcome of the ETF filing will also play a key role. If approved, it could drive institutional interest, impacting DOGE’s trajectory.
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