Dogecoin Price Could Explode Higher as ETF Approval and Buy Signals Align

Despite recent volatility and a broader market pullback, sentiment toward the popular meme coin is improving — and some traders believe a major move could be on the horizon.

Excitement is brewing around Bitwise’s amended filing for a spot Dogecoin ETF, which now includes its ticker symbol BWOW, management fee details, and listing plans for NYSE Arca. According to the latest S-1 submission, the ETF aims to track the CF Dogecoin-Dollar US Settlement Price Index and could list by the end of the month, depending on the SEC’s response.

The asset manager has proposed a 0.34% fee, waived for the first month on up to $500 million in assets, while Coinbase Custody will secure DOGE holdings and BNY Mellon will manage cash reserves. Bloomberg ETF analyst Eric Balchunas noted that Bitwise’s filing strategy suggests it could become automatically effective within 20 days unless regulators intervene.

If approved or auto-effective, this would mark the first U.S. spot Dogecoin ETF, a milestone expected to attract new inflows from retail and institutional investors eager for meme coin exposure through a regulated product.

Analysts Turn Bullish: Dogecoin Could Burst From This Level

Several prominent traders on X (formerly Twitter) have shared bullish outlooks. Trader Tardigrade highlighted Dogecoin’s six-month chart, where a symmetrical triangle has been forming since 2021. A breakout from this structure, he argues, could project a rally toward $1.20, representing a long-term upside move similar to DOGE’s 2021 cycle.

Similarly, analyst Butterfly described the $0.165 range as a “strong floor,” predicting that bullish momentum could soon push DOGE toward $0.48 by year-end if historical patterns repeat. Ali Martinez also reinforced the optimistic tone, noting that the TD Sequential indicator has issued a buy signal, suggesting a local bottom may already be in place.

Technical Signals Point to Recovery

While the meme coin’s price has slipped to around $0.162, several indicators hint at stabilization. On the 4-hour chart, the RSI hovers near 42, showing moderate recovery from oversold territory, while the MACD lines are flattening, signaling weakening bearish momentum.

However, broader metrics from TradingView’s technical summary still show mixed readings. The overall gauge leans “Sell” due to pressure on the daily moving averages, though oscillators are gradually shifting into “Buy” territory — suggesting potential for short-term rebounds once trend confirmation appears.

In the longer view, Dogecoin continues to trade within a multi-year consolidation triangle, with lower highs compressing against rising support levels. A breakout from this range could trigger a substantial move, aligning with the bullish analyst projections.

Market Narrative Aligns With Dogecoin’s Historic Pattern

Dogecoin’s price action has historically followed a pattern of long consolidation periods followed by rapid expansions, often coinciding with new catalysts such as listings, celebrity endorsements, or broader crypto rallies. With the ETF narrative gaining traction and technical indicators flashing early strength, many traders see parallels with pre-rally phases from past cycles.

As macro conditions gradually improve and retail enthusiasm returns, Dogecoin could be setting the stage for its next major run. Whether the upcoming ETF launch becomes the spark remains to be seen, but momentum in both technical and market sentiment appears to be converging at the right time.