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Will DOGE Price Hit $0.22 in the Short Term?
As we enter the latter half of 2025, market enthusiasts are left wondering whether Dogecoin (DOGE) price will reach the coveted mark of $0.22 in the short term. While many factors can influence cryptocurrency prices, recent developments and on-chain data suggest that a price hike is imminent.
Firstly, let’s examine the current situation with DOGE ETF applications. The US Securities and Exchange Commission (SEC) has received multiple proposals from firms like Grayscale, Bitwise, and 21Shares for a DOGE ETF. Given that these organizations have already had their “19b-4” applications acknowledged by the SEC, the second half of the year might provide clarity on this matter. According to Bloomberg analysts, there’s an astonishing 90% chance that the SEC will approve DOGE as a commodity, paving the way for new investment vehicles and potential price appreciation.
In addition to these ETF developments, on-chain data reveals a shift in market dynamics. We’re witnessing a decline in retail investors offloading their supply of DOGE while larger holders, or whales, continue to accumulate their holdings. This trend indicates that there’s significant buying pressure from the latter group, which could propel DOGE towards $0.22.
It’s also worth noting that DOGE has demonstrated remarkable resilience on its daily chart, consistently holding above a crucial support zone of $0.13 to $0.15. The upper border of this falling wedge pattern is narrowing, and with the trading gap significantly reduced, it’s likely that DOGE could soon break out and propel towards the target price.
Trader Tardigrade has also shared his insights on Twitter, highlighting an ascending broadening wedge pattern in the weekly chart, which suggests a strong likelihood of a breakout. If this trend persists, we might see DOGE rise sharply in the second half of 2025, potentially reaching new all-time highs around $0.80.
Lastly, the DOGE price chart shows a slow but steady recovery over the past two weeks. This upward trend is reminiscent of other top altcoins that began to rebound at the start of July.
In summary, considering these factors and on-chain data, there’s a strong case for DOGE’s price rising in the short term.
Source: coinpedia.org
