Dogecoin price breaks through key resistance, ETF progress resonates with institutional buying, will DOGE reach a historic high?

ETF Progress: 21Shares Dogecoin ETF Accepted by SEC, Review Enters Critical Stage

The spot Dogecoin ETF application submitted by 21Shares has been officially accepted by the U.S. Securities and Exchange Commission (SEC), marking the start of the review process. According to SEC regulations, the review process can last up to 240 days, with a final deadline of January 9, 2026. Although the SEC recently delayed decisions on the Dogecoin and XRP ETF applications submitted by 21Shares and Grayscale, the market generally believes that the likelihood of approval is increasing as regulatory attitudes gradually open up.

Technical analysis: The price has broken through key resistance, and the short-term trend has turned positive.

Image:https://www.gate.com/trade/DOGE_USDT

As of June 5, 2025, the DOGE price broke through the key resistance level of $0.194, reaching a high of $0.197, up 2.4% within 24 hours. Technical indicators show that DOGE is forming an "inverse head and shoulders" pattern, with the neckline positioned around $0.25. If the price breaks through this level, it could trigger a new round of increases.

The current key support level is at $0.185. If this level is broken, it may trigger further downward pressure. On the contrary, if the price can steadily break through the $0.198-$0.200 range, it will provide the conditions for a larger upward trend for DOGE.

Market sentiment: Institutional buying is active, trading volume has significantly increased.

Recently, the trading volume of DOGE has significantly increased, especially during two peak periods on June 4, reaching 470 million and 386 million DOGE respectively, indicating active institutional buying. In addition, a transaction of DOGE worth 20 million USD transferred to Coinbase has also drawn market attention, suggesting that large investors are actively positioning themselves.

These signs indicate that despite the uncertainty in the macro economy, DOGE, as a highly liquid cryptocurrency asset, is attracting increasing attention from institutional investors.

Price Prediction: 2025 DOGE Price Outlook

According to CoinCodex's prediction, the price of DOGE may fluctuate between $0.181 and $0.273 in 2025, with an average price of around $0.215. In an optimistic scenario, if market sentiment is high, DOGE is expected to break through $0.30 and even challenge the historical high of $0.70.

However, some analysts remain cautious, believing that the price of DOGE may fluctuate between $0.172 and $0.341, depending on macroeconomic factors, market sentiment, and the overall performance of cryptocurrencies.

Investor Strategy: Is it the right time to enter the market?

For investors, the current price of DOGE has broken through a key resistance level, with both technical indicators and market sentiment showing positive signals. If the price can steadily break through the $0.198-$0.200 range and hold above $0.25, it will lay the foundation for further gains. However, investors still need to pay attention to market volatility and develop a reasonable investment strategy based on their own risk tolerance.

Summary

With the acceptance of the 21Shares Dogecoin ETF application and the active institutional buying, the market outlook for DOGE is gradually improving. The technical aspects show that the price has broken through key resistance, and the short-term trend has turned positive. Although there is still uncertainty, if market sentiment remains high, DOGE is expected to challenge its historical highs in 2025. Investors should closely monitor market dynamics and combine technical analysis with fundamental information to develop a reasonable investment strategy.