Dogecoin Analysts Predict 111% Breakout Amid ETF Optimism and Selling

Dogecoin (DOGE) has increased 13% this week to $0.282, despite significant selling pressure. In September, $1.63 billion worth of DOGE was moved to exchanges, indicating profit-taking behavior among traders.

Long-term holders are also reducing positions, as shown by the coin days destroyed (CDD) metric, suggesting potential downside risk.
The price surge is fueled by speculation about a potential spot Dogecoin ETF launch, corporate treasury use, and payment integrations.

Technical Setup Indicates Possible Breakout

The Ichimoku Cloud setup shows all indicators favoring buyers, with support at $0.255 and resistance at $0.287.
A breakout above the resistance level could see DOGE reaching $0.300 or higher.
Market analysts predict potential new all-time highs, with one setting a breakout target of $0.6533, implying a 111% upside.

Dogecoin DOGE DOGEUSD

ETF Hype and Market Outlook

The U.S. SEC's approval of listing standards for spot Dogecoin ETFs boosts bullish sentiment.
The launch of DOJE by REX Shares and Osprey Funds marks a milestone in meme coin adoption.
Corporate participation and initiatives like CleanCore Solutions’ Dogecoin treasury add credibility and demand.
Risks include failing to maintain above the $0.273 support level, potentially leading to a correction toward $0.241.
Momentum indicators suggest overbought conditions, hinting at possible consolidation before further gains.

With positive ETF news, corporate adoption, and technical indicators aligning, analysts anticipate Dogecoin's rally might continue into late 2025, potentially doubling its price.