- Dogecoin price surged 7.5% to $0.24 despite the SEC delaying its ETF decision until June.
- Technical indicators point to potential upside targets at $0.262 and $0.289 if $0.245 is breached.
- Bloomberg and Polymarket suggest ETF approval is unlikely before July, but optimism remains for late 2025.
Dogecoin (DOGE) has vaulted back into the spotlight as Grayscale’s application for a spot Dogecoin ETF remains under a prolonged review by the United States Securities and Exchange Commission (SEC). The regulatory agency, notably, has yet to deliver a final verdict on over 70 altcoin ETF filings, a list that includes not just Dogecoin, but also other major coins like XRP, Solana, and Litecoin.
Grayscale first initiated its DOGE Trust back in January 2025 and officially filed for the ETF conversion in March, but the agency continues to cite the need for “additional analysis” to ensure compliance with Section 6(b)(5) of the Exchange Act.
SEC Puts Grayscale’s Spot Dogecoin ETF on Longer Review Track
This mirrors the slow but ultimately successful path of the spot Bitcoin ETF, which after a lengthy review, drew billions in inflows post-approval. As per current SEC filings, the next decision date for DOGE’s ETF is set for June.
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However, even this does not guarantee approval, and Polymarket odds of a green light before the end of July have surged to 23%. Bloomberg analyst James Seyffart clarified that this delay is standard procedure for 19b-4 filings, and October remains the final deadline for many of these products.
DOGE Price Action: A Short-Term Surge, But Can It Sustain?
According to CoinMarketCap data, over the last 24 hours, Dogecoin’s price rose 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 bullish continuation and possible pullbacks. As per the chart below, DOGE is currently hovering near the 1.618 Fib extension at $0.24501, with the next key resistance targets sitting at 2.618 at $0.26200, 3.618 at $0.27899, and 4.236 at $0.28949.
A strong breakout above $0.245 could signal continuation toward the $0.26–$0.29 region if accompanied by volume.
Meanwhile, the Relative Strength Index (RSI) is at 65.50, approaching the overbought zone. The gradient of the line suggests that buyers are gaining control over the sellers.
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On the other hand, the Balance of Power (BoP) is slightly negative at -0.05. A sustained shift into positive territory would indicate that bulls are gaining control over the market.
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