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Dogecoin (DOGE) continues to attract attention as speculation over a potential spot DOGE ETF intensifies. While volatility remains elevated, the asset has shown resilience—holding firm above a key support at $0.142, where a potential double-bottom formation is emerging on the weekly chart.
The recent defense of this level is seen as significant, particularly as ETF-related optimism resurfaces. Market participants have taken note of Bitwise’s amended S-1 filing, which some analysts interpret as a signal of ongoing dialogue with U.S. regulators. Polymarket data suggests that a majority of traders believe a DOGE ETF could be approved before the end of 2025.
This narrative has sparked a shift in market positioning. According to Coinglass, the long/short ratio for DOGE has risen above 1, indicating growing bullish interest. Meanwhile, funding rates remain positive—evidence that traders are willing to pay to maintain long exposure.
Technically, the double-bottom pattern, anchored at the $0.142 level, outlines an initial upside target at $0.26, with a longer-term objective around $0.47, should bulls overcome neckline resistance. The Average Directional Index (ADX) is sloping downward, hinting at weakening bearish strength and room for a potential reversal.
However, a sustained breakout will likely require confirmation from momentum indicators. The RSI remains below 50, suggesting that while buying activity is increasing, a decisive move above the midpoint is still needed to validate a broader uptrend.
In summary, Dogecoin’s price outlook remains constructive as long as $0.142 support holds and ETF speculation continues to underpin demand. A break above $0.26 could pave the way toward the $0.47 target, making DOGE one to watch in the coming weeks.
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