Dogecoin Slides 4% Today — Analysts Weigh In on Whether DOGE Can Hit $1.40

Jakarta, Pintu News – As of August 16, the price of Dogecoin was trading at $0.2286, an increase of 3.04%. The asset maintains the bullish trend recently seen, while remaining in a clear consolidation phase.

According to Coingape, the current interest in Dogecoin is partly fueled by the recent update on Grayscale Investments’ ETF filing, which has reignited positive sentiment about Dogecoin’s market prospects.

So, how is the Dogecoin price moving today?

Dogecoin Price Drops 4.58% in 24 Hours

On August 18, 2025, Dogecoin saw its price drop by 4.58% over 24 hours, trading at $0.2236 (approximately IDR 3,622). During the same period, DOGE fluctuated between IDR 3,614 and IDR 3,916.

As of writing, Dogecoin’s market cap stands at around IDR 553.55 trillion, with trading volume rising 49% to IDR 39.82 trillion within 24 hours.

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Dogecoin Price Prediction Strengthens as Breakout Signals from Chart Patterns

Tardigrade traders on platform X observed a broadening wedge pattern on Dogecoin’s weekly chart, suggesting significant upside potential. This structure is usually formed from a series of higher highs and higher lows.

The previous bullish push had provided a gain of +120% as the price moved from $0.22 to $0.48, and further rose +190% to reach the $0.77 level.

The analyst projects an ultimate target of $1.4 if momentum follows this pattern. Historical data also shows that Dogecoin’s cyclical expansion within this wedge continues to increase, supporting a fundamentally bullish view. This analysis further shapes expectations for Dogecoin’s 2025 price prediction.

Meanwhile, Dogecoin continues to trade in a clear accumulation phase on the daily chart. This phase has been in the range of $0.21 below to $0.30 above since early February.

The current price action shows higher lows forming within the range, signaling a gradual increase in buying conviction.

A decisive breakout above $0.25 could trigger an upside continuation towards $0.30, and the subsequent bullish trend opens up the possibility of retesting the $0.50 level.

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The Relative Strength Index (RSI) is currently at a neutral level of 52, which suggests further accumulation before an upward breakout.

Grayscale ETF Update Sparks Institutional Optimism for Dogecoin

Grayscale Investments recently filed an S-1 update with the Securities and Exchange Commission (SEC). The company aims to list the Dogecoin Trust ETF under the ticker $GDOG on the NYSE Arca.

This trust will hold DOGE directly, giving investors exposure to Dogecoin’s spot market value minus management fees.

Custody duties will be entrusted to Coinbase Custody, as per existing institutional practice. This regulatory milestone follows the company’s 19b-4 filing on February 13, 2025, which formed the basis for the latest progress. A positive decision has the potential to increase liquidity and attract significant institutional participation.

The filing also shows a positive outlook on the future of other investment vehicles with ETF-like structures, such as 21Shares, which were previously delayed. October 2025 is a pivotal moment that will likely determine the direction of Dogecoin’s price dynamics, both in the spot and derivatives markets.

In conclusion, Dogecoin price action is showing increasing positive pressure. The growing institutional narrative is the main catalyst. At the same time, technical indicators and regulatory trends continue to support optimism about the possibility of a sustained rally.

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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. Dogecoin Price Prediction- Analyst Projects $1.4 as Grayscale Updates ETF Filing. Accessed on August 18, 2025