- Dogecoin shows bullish signs with a “Cup & Handle” pattern signaling potential for major rally.
- Grayscale’s Dogecoin ETF filing sparks optimism, with some predicting DOGE could hit $1.
- Technical indicators and ETF speculation suggest DOGE may experience significant upward momentum soon.
Dogecoin—DOGE, is once again gaining traction. After months of moving sideways, the memecoin is starting to show some serious potential. Breaking through resistance levels and forming a bullish pattern has traders excited. On top of that, rumors about a potential Dogecoin ETF have fueled even more optimism. With this growing buzz, many are wondering if DOGE could reach $1 in the near future.
Bullish Signs for Dogecoin
Crypto analyst Daniel Ramsay sees promising signs for Dogecoin. On the monthly chart, DOGE has broken out of a classic “Cup & Handle” pattern, often a precursor to a major rally. Ramsay also points to the “Three White Soldiers” candlestick pattern, which signals strong bullish momentum. While DOGE may face a short-term pullback to lower support levels, the overall trend looks solid. If these technical patterns continue to play out, DOGE could soon experience a significant upward move.
Will a Dogecoin ETF Push DOGE to $1?
In addition to these technical signals, the speculation around a Dogecoin ETF is causing a lot of excitement. Grayscale’s recent filing for a Dogecoin ETF has only added fuel to the fire. Past crypto ETF launches, like those for Bitcoin and Ethereum, have led to big price jumps. For example, the Bitcoin ETF launch in January 2024 saw over $39 billion in investments, driving Bitcoin’s price up.
If Dogecoin’s ETF is approved, DOGE will likely experience a significant price surge. Some even believe that DOGE could reach $1 or more. But it’s important to note that past ETF launches have also seen price corrections after the initial hype. Market reactions can be unpredictable. Dogecoin has strong bullish indicators, and the potential for an ETF approval could provide a huge boost.
If the ETF moves forward, it could attract significant investments, driving DOGE’s price higher. However, caution is always needed in the unpredictable world of crypto. While DOGE’s path to $1 seems more likely than ever, the market can always shift.
