"Dogecoin (DOGE) Soars 3% Following ETF Speculation; Traders Predict 22% Chance of New ATH by June 2025"

Dogecoin’s price has seen a notable upward shift, reflecting a 3.5% increase on Friday, fueled by ongoing speculation regarding exchange-traded funds (ETFs) and a changing regulatory stance, which has instilled a sense of optimism among investors. Users on prediction platform Polymarket are estimating a 22.5% likelihood that the approval of a DOGE ETF could lead to new all-time highs by the first quarter of 2025.

In recent months, Dogecoin (DOGE) has been on a positive trajectory largely influenced by changing political dynamics in the United States. The increasing visibility of figures like Elon Musk, particularly in connection with the administration of Donald Trump, alongside the creation of the D.O.G.E. department, has reignited interest in this memecoin among investors. The momentum of this rally was reinforced on Friday when the U.S. Securities and Exchange Commission (SEC) acknowledged Grayscale’s filings for spot ETFs related to XRP and Dogecoin, suggesting a potential openness within the regulatory body.

While the SEC’s acknowledgment does not guarantee immediate approval, it marks a significant shift from prior policies that were often dismissive of Altcoin ETF submissions. Historically, under different leadership, such applications were frequently either retracted or outrightly rejected amid regulatory challenges. This recent move suggests a more accommodating regulatory environment that could lead to greater acceptance and prospect for broader altcoin adoption.

Bloomberg Intelligence ETF analyst Eric Balchunas, commenting on the situation, noted, “This is a favorable indication for Altcoins. Previously, these assets were often told to withdraw their applications. The fact that these filings remain under consideration boosts our already optimistic expectations for approval.”

The market reacted swiftly to this news, with DOGE gaining a modest 3.5% to surpass the $0.29 mark for the first time in 10 days, the last instance being February 4. Notably, this rise is slightly more restrained when compared to XRP, which surged by 7% in response to similar positive news regarding ETF considerations. Nevertheless, a significant number of Dogecoin traders appear to be preparing for further advances.

An increase in speculation has emerged following the SEC’s acknowledgment of Grayscale’s DOGE ETF application, pushing the price of Dogecoin to $0.29 and motivating forecasts that ETF approval could drive prices to record levels. Currently trading around $0.28, prediction market analytics indicate that traders are expecting substantially higher levels by 2025.

On Polymarket, traders are designating a 22.5% chance for Dogecoin to surpass its previous all-time high of approximately $0.73 by June 30, 2025. This probability reflects a marked increase compared to earlier in the year, underscoring the rising optimism about potential ETF approvals and growing institutional interest in memecoins.

The trading patterns observed in the past have echoed similar developments in bitcoin markets prior to its spot ETF approval. In late 2023, Bitcoin was valued at around $30,000, with many market participants betting on a surge beyond a six-figure price range post-approval. This prediction held validity when Bitcoin escalated to $50,000 in early 2024. If Dogecoin follows suit, speculative interests surrounding ETF approval could see prices climbing towards $0.50 and possibly even higher before mid-2025.

As of now, Dogecoin is navigating a phase of consolidation, facing notable resistance levels near $0.30 and $0.35. Should the price manage to surpass these thresholds, combined with enhanced regulatory clarity, it could create a favorable environment for testing past all-time highs later in 2025.

In terms of price forecasts, recent charts indicate that Dogecoin has grown approximately 16.5% over the last week, climbing from $0.25 to a peak of $0.283. This bullish trend is supported by movements above the lower Bollinger Band at $0.22, and the coin has reclaimed the Hull Moving Average (HMA) at $0.28, which suggests a potential shift in market dynamics. Sustaining above this level could provoke further upward action toward the mid-Bollinger Band at around $0.28, which aligns with the upper limits of a descending channel.

A significant breakthrough past the midline resistance could push DOGE toward the psychologically important level of $0.32, serving as both a technical and psychological benchmark. If this resistance is cleared, the next target would be the upper Bollinger Band close to $0.34. A close above $0.32 could facilitate a continued upward trend toward $0.35 or higher. Additionally, the cumulative volume delta (CVD) has turned positive, indicating increasing buying pressure which supports an uptrend.

However, any failure to uphold prices above the HMA could lead to a retreat towards $0.26, with a risk of retesting the lower Bollinger Band at approximately $0.22. A drop beneath $0.20 would jeopardize the bullish outlook, exposing DOGE to a more significant downward adjustment.

Dogecoin’s future trajectory remains closely tied to broader market developments and regulatory clarity, with traders closely monitoring resistance and support levels for potential breakout opportunities.