The Latency of the Dogecoin ETF Does Not Dampen the Price Rise as Prices Approach 0.26 USD

Dogecoin has returned to the spotlight as Grayscale's spot ETF application for Dogecoin is still under review by the Securities and Exchange Commission of the United States (SEC) for a long time. Notably, this regulatory body has yet to make a final decision on more than 70 altcoin ETF applications, a list that includes not only Dogecoin but also other major coins such as XRP, Solana, and Litecoin. Grayscale first initiated the DOGE Trust Fund in January 2025 and officially filed for ETF conversion in March, but the agency continues to raise the need for "additional analysis" to ensure compliance with Section 6(b)(5) of the Securities Exchange Act. The SEC has put Grayscale's Dogecoin Spot ETF on its long-term evaluation roadmap. This reflects the slow but ultimately successful path of the spot Bitcoin ETF, which, after a lengthy review process, has attracted billions of dollars in investments following its approval. According to the current SEC filings, the next decision date for the DOGE ETF is set for June. However, this does not guarantee approval, and the percentage of Polymarket receiving the green light has surged to 23% before the end of July. Bloomberg analyst James Seyffart clarified that this delay is standard procedure for filings made under form 19b-4, and October remains the final deadline for many of these products.

DOGE Price Volatility: Sudden Surge in the Short Term, But Can It Be Sustained? According to data from CoinMarketCap, in the past 24 hours, the price of Dogecoin has increased by 7.55% to $0.24082, with trading volume surging by 62.34% to $3.25 billion - indicating increased market activity and speculative interest. However, technical indicators suggest that traders should prepare for both a continuation of the bullish trend and the possibility of a pullback. According to the chart below, DOGE is currently fluctuating near the Fib extension level of 1.618 at $0.24501, with the next important resistance targets being 2.618 at $0.26200, 3.618 at $0.27899, and 4.236 at $0.28949. A strong breakout above $0.245 could signal a continuation towards the $0.26–$0.29 range if accompanied by volume.

Meanwhile, the Relative Strength Index (RSI) is at 65.50, approaching the overbought zone. The slope of the line indicates that buyers are gaining control over sellers. On the other hand, the Balance of Power (BoP) is slightly negative at -0.05. A continuous shift into positive territory will indicate that buyers are taking control of the market.