Analyst Predicts Dogecoin Price Could Reach $15 with ETF Approval
Bitwise and Rex Shares have applied for spot Dogecoin ETFs in the U.S. Analyst Ali Martinez predicts that Dogecoin (DOGE) could reach $15 by late 2025 based on a long-term ascending channel identified in his technical analysis.
Key Points
- DOGE's price action is framed by three parallel trendlines since 2017, with a strong support line preventing significant downturns.
- The current median line is around $0.40 to $0.45, recently tested by DOGE.
- The upper boundary of the channel historically served as a bull run top, indicating potential price movements above $10.
- Martinez suggests that pending approval and launch of spot Dogecoin ETFs may attract new investments into DOGE.
- If DOGE maintains position above the median line, higher resistance levels near $1.00 and $15 are possible.
- Bloomberg's Eric Balchunas indicated that the spot Doge ETFs might be available as early as April.
- Bitwise has formally registered its ETF application with the Delaware Division of Corporations, a precursor to SEC submission.
- Current trading price of DOGE is $0.34.
