Dogecoin has rallied 7% to $0.23, breaking out of a symmetrical triangle.
Polymarket odds show a 92% chance of a DOGE ETF approval in 2025.
DOGE’s MVRV is in a historic buy zone, where past rallies of 50%+ began.
After months of consolidation, Dogecoin (DOGE) is on the verge of breaking out. In the last 24 hours, the value of memecoin has increased by 7%.
This development comes amid rising odds that the U.S. SEC will soon approve a DOGE exchange-traded fund (ETF).
But will the breakout continue? Let’s find out.
Dogecoin Turns Bullish
At press time, Dogecoin was trading at $0.23, following a breakout from a symmetrical triangle on the 4-hour chart — a pattern that signals the start of a new trend.
Supporting this bullish move, the Chaikin Money Flow (CMF) has climbed to 0.22 on the same timeframe.
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The positive CMF reading indicates that buying pressure dominates selling pressure, suggesting that capital inflows into DOGE are strengthening.
When CMF rises above zero, it typically confirms that investors are accumulating, which can provide the momentum needed for further price gains.
If this trend continues, the breakout could gain traction, allowing DOGE to retest higher resistance levels starting from $0.25. However, for this to materialize, the memecoin needs to hold support at $0.20.
Beyond the technical outlook, ETF speculation adds fuel to Dogecoin’s rally. According to Polymarket odds, the chances of a DOGE ETF being approved in 2025 have surged to 92%.
Such high expectations are driving renewed interest in the memecoin. An ETF approval would mark a huge milestone for DOGE, legitimizing it further and potentially unlocking a wave of institutional demand.
Even before any official decision, the growing belief in an ETF might boost market sentiment, helping support Dogecoin’s price surge. Amid all of this, DOGE’s MVRV ratio sits at -14.93%.
This negative reading means the current price is below the average price holders paid. In fact, historically, MVRV values between –5% and –15% flag lucrative buying opportunities for long-term holders.
Looking back, similar MVRV ranges have corresponded with strong rallies. For instance, periods when DOGE entered this MVRV band precede local bottoms and were followed by rebounds of 50% or more.
Thus, if history repeats, Dogecoin’s price might have hit bottom. Hence, a sustained rally could be next.
DOGE Price Prediction: Rally Brewing
A look at the daily chart shows that Dogecoin’s price has broken above the upper trendline of a descending triangle. Amid that, the Awesome Oscillator (AO) has flashed consecutive green histogram bars.
With this setup, DOGE will likely breach the resistance at $0.26. Once that happens, the next target for the token could be a rally toward $0.30 at the 0.618 golden ratio.
However, if selling pressure increases at this point, DOGE might decline to the underlying support at $0.20. In a highly bearish scenario, DOGE could slide to $0.13.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
