- The SEC’s acknowledgment of Grayscale’s Dogecoin ETF filing has sparked optimism for institutional adoption, with analysts estimating a 75% approval chance by late 2025.
- Meanwhile, DOGE faces strong resistance around $0.28, but its growing real-world adoption and potential blockchain integration could drive future price surges.
Dogecoin, the meme-born cryptocurrency that has defied expectations time and again, is once again at the center of attention. The U.S. Securities and Exchange Commission (SEC) has acknowledged Grayscale’s filing for a spot Dogecoin ETF, signaling a potential breakthrough for the beloved digital asset. While DOGE currently faces strong resistance around $0.28, the growing adoption and institutional interest could set the stage for a bullish move.
SEC’s 240-Day Review: A Game-Changer for Dogecoin?
The SEC’s acknowledgment of Grayscale’s 19b-4 application for a Dogecoin ETF marks the beginning of a 240-day review process. With Coinbase Custody managing the underlying assets and BNY Mellon overseeing administrative duties, the proposed ETF would allow investors to gain exposure to DOGE without directly holding the asset. Bloomberg ETF analysts James Seyffart and Eric Balchunas estimate a 75% chance of approval before the end of 2025, a development that could significantly boost Dogecoin’s legitimacy and adoption.
Current Market Position: Struggling Against Resistance
At the moment, Dogecoin is trading below a key resistance level, marking a 3.32% decline over the last 24 hours and a steep 40.4% drop from its 2025 high of $0.43. The key resistance zone lies between $0.28 and $0.29, aligning with Bitcoin’s Bull Market Support Band. Meanwhile, the Relative Strength Index (RSI) hovers at 38, suggesting that DOGE is neither overbought nor oversold, but still under bearish pressure.
Key Technical Levels:
- Immediate resistance: $0.27 – $0.29
- Current price: $0.2561
- 2025 peak: $0.43
- Recent low: $0.2117 (January 2025)
Adoption on the Rise: Over 2,500 Merchants Accept DOGE
Despite price fluctuations, Dogecoin’s real-world use continues to expand. Over 2,500 merchants now accept DOGE as payment, with major names like AMC and the Dallas Mavericks leading the charge. Furthermore, the coin’s charitable impact, such as funding clean water initiatives in Kenya, highlights its growing relevance beyond speculation.
What’s Next for DOGE?
With speculation surrounding Elon Musk’s potential push for blockchain-based U.S. Treasury transactions, DOGE enthusiasts are keeping a close eye on developments. If the ETF receives approval, Dogecoin could see a surge in institutional investment, further strengthening its price action. For now, breaking the $0.28-$0.29 resistance remains the immediate challenge, but with strong community backing and increasing adoption, DOGE’s future remains bright.