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 take up to 240 days, with the final deadline being January 9, 2026. Although the SEC recently postponed its decision 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: Price breaks through key resistance, short-term trend turns 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 at approximately $0.25. If the price breaks this level, it could trigger a new round of increases.

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

Market sentiment: Institutional buying is active, and 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, indicating active institutional buying. In addition, a transaction involving 20 million USD worth of DOGE transferring to Coinbase has also attracted market attention, indicating that large investors are actively positioning themselves.

These signs indicate that despite the uncertainty in the macro economy, DOGE, as a highly liquid crypto asset, is attracting the attention of more and more 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 about $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 take a cautious stance, 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?

For investors, the current price of DOGE has broken through a key resistance level, with both technical indicators and market sentiment showing positive signs. 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 increases. However, investors still need to pay attention to market volatility and develop a reasonable investment strategy based on their own risk tolerance.