Dogecoin to the Moon? Analysts Predict 105% Spike Amid ETF Speculation!

Jakarta, Pintu News – The Dogecoin price has the potential to experience a large increase after forming a rare pattern known as a diamond bottom on the daily chart.

According to Tardigrade Trader technical analysts, DOGE’s price structure shows a bullish reversal pattern that could push DOGE’s price up by more than 105% to reach $0.35.

This optimistic prediction comes despite the Dogecoin price falling 1.5% in the last 24 hours (7/5) and losing 3% over the past week. However, in the last 30 days, the power is still with the bulls, with the DOGE price rising by 15%.

Diamond Bottom Pattern in Dogecoin Price Hints at a Potential Rally

Read also: Dogecoin Skyrockets on May 8th—What’s Next for the DOGE Price?

Tardigrade traders identified a diamond bottom pattern on the daily chart of DOGE/USD. This pattern usually signals a reversal to an uptrend(bullish reversal), especially after a long period of price decline. Based on the chart, the breakout level is expected to be in the range of $0.165 to $0.17.

This projection places Dogecoin’s price target between $0.255 to $0.35. The chart also shows a dotted green arrow pointing towards the $0.35 level, indicating an optimistic scenario for the continuation of the price rally.

Another crypto analyst, Ali Charts, noted that Dogecoin price is currently testing the support level at $0.167.

He stated, “Keeping this level could trigger a bounce towards $0.175 and maybe even up to $0.183.” Both analysts agree that keeping the $0.165-$0.167 zone is crucial for the upward momentum to continue.

In addition, the Price Momentum Oscillator (PMO) indicator also shows a bullish crossover, indicating further upside potential if buying volume increases.

All of these indicators reinforce the possibility of a Dogecoin price rally, provided that the current support levels are maintained.

DOGE ETF Approval Could Accelerate Dogecoin Price Rise

Speculation about a Dogecoin ETF (DOGE ETF) is increasing in the market, as several asset managers such as Bitwise, 21Shares, Grayscale, and REX Shares apply for approval.

They are currently awaiting permission from the US Securities and Exchange Commission (SEC) to launch a Dogecoin-based ETF. According to data from Polymarket, the chances of a DOGE ETF being approved have risen by 25%, with analysts’ predictions reaching a 64% chance of approval before the end of 2025.

Some time ago, the CoinGape page mentioned that if Dogecoin is able to attract 30% to 50% of the fund flow into the Bitcoin ETF, the DOGE price could increase to the range of $0.34 to $0.50.

This scenario forecasts $12 to $20 billion in funds coming into the Dogecoin market. This projection also suggests that DOGE’s market capitalization could more than double from its current position.

The approval of this ETF is expected to attract more institutional investors, which will increase the demand for DOGE. This large fund flow is in line with the $0.35 level previously mentioned in the technical analysis.

Analysts stated that the ETF approval news could be the main trigger for the price rally and push DOGE through the $0.255 resistance level.

Read also: Standard Chartered Says BNB Could Double in Price — Is a Massive Rally Coming?

DOGE’s Holding Behavior Shows Investor Confidence

Recent data from IntoTheBlock shows that investor sentiment towards Dogecoin is improving.

The average holding time of DOGE coins traded increased by more than 526% in the last 90 days. This pattern is similar to the trend that occurred before Dogecoin’s big rally in 2021.

In the last seven days alone, the holding time jumped to four months. This shift from short-term speculation to long-term holdings reduces selling pressure and shows that investors are increasingly confident that DOGE prices will soon rise.

If this trend continues, it could form a more stable basis for further price growth.

Currently, long-term holders dominate transaction volumes – a phenomenon that is often a harbinger of significant price spikes. With supply in the market becoming increasingly limited and demand growing, these signals further reinforce the positive outlook for Dogecoin.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Expert Predicts Dogecoin Price to Rally 105% As DOGE ETF Odds Rise By 25%. Accessed on May 8, 2025