DOGE’s Critical Resistance Break Could Spark Next Major Rally

Dogecoin (DOGE) recently tested the $0.174 support level amid a broader crypto market pullback, but analysts remain bullish on its short-term potential. Technical analyst Ali Martinez emphasizes that reclaiming a key resistance level is crucial for DOGE’s next upward surge. This pivotal moment could determine whether the meme coin embarks on another significant rally or faces further consolidation.

Dogecoin’s Pivotal Price Level Could Determine Next Rally

Dogecoin briefly dipped to $0.174 as the broader crypto market saw a modest pullback in bullish momentum at Monday’s close. Despite the retreat, analysts remain optimistic about DOGE’s short-term potential, with some forecasting significant upside.

Technical analyst Ali Martinez highlighted a key resistance level Dogecoin must reclaim to fuel its next rally. The meme coin’s ability to break through this barrier could determine whether it retests its all-time high.

Dogecoin Poised for Significant Rally Amid Bullish Technical Patterns

Dogecoin (DOGE) shows signs of an impending price surge, with technical analysis revealing two distinct bullish divergence patterns. The meme cryptocurrency, currently trading at $0.17, has already gained 10% this week and 11% over a fortnight.

A June-August 2024 pattern saw Doge rebound from $0.07-$0.09 lows to $0.40 by December, as the Relative Strength Index (RSI) defied price action. A similar setup emerged in March-April 2025, with lower price lows failing to dampen momentum indicators.

Elon Musk’s DOGE Initiative Fails to Curb Government Spending Under Trump

Despite Elon Musk’s substantial investment and advocacy for a government efficiency commission, federal spending increased during Trump’s return to office. The initiative, dubbed DOGE after the meme cryptocurrency, was projected to save $2 trillion but has only accounted for $160 billion in savings. Government expenditures ROSE by 6.3% ($156 billion) in Trump’s first four months compared to the previous year, even after adjusting for inflation.

Musk’s DOGE commission, staffed by young engineers, aggressively targeted budget cuts but failed to reverse the upward trend in spending. The disconnect between projected savings and actual fiscal outcomes highlights the challenges of reforming government expenditure.

Nasdaq Files for 21Shares Dogecoin ETF as SEC Delays Bitwise Decision

Nasdaq has submitted a 19b-4 filing to the U.S. Securities and Exchange Commission seeking approval to list and trade shares of the 21Shares Dogecoin ETF. The move signals growing institutional interest in meme cryptocurrencies despite their volatile nature.

Meanwhile, the SEC has postponed its decision on Bitwise’s spot Dogecoin ETF application, extending the review period until June 15. The regulatory delay comes as the crypto market shows renewed appetite for risk assets.

Dogecoin traded around $0.17 Wednesday following a modest pullback. The price action reflects market uncertainty amid competing narratives of institutional adoption and regulatory caution.

Dogecoin ETF Prospects Amid SEC Delay

Dogecoin’s market trajectory faces a pivotal moment as the SEC delays its decision on Bitwise’s proposed DOGE ETF. The meme-inspired cryptocurrency, currently trading at $0.17, has seen a 1.22% decline in the past 24 hours. Institutional interest grows despite regulatory hurdles, with Bitwise leading the charge for crypto-based investment products.

Market observers note the irony of a joke-turned-asset gaining serious financial consideration. "The line between meme and mainstream blurs further," remarked a senior analyst at Watcher Guru. Dogecoin’s volatility remains a hallmark, yet its enduring community support suggests resilience beyond typical speculative assets.

Nasdaq Seeks SEC Approval for Spot Dogecoin ETF

Nasdaq has formally submitted an application to the U.S. Securities and Exchange Commission for a spot Dogecoin ETF, marking a potential milestone for the meme-inspired cryptocurrency. The proposed fund would be managed by Swiss asset manager 21Shares, positioning DOGE alongside more established digital assets in the regulated investment landscape.

Approval would represent a significant institutional endorsement of Dogecoin, which began as a joke but has gained substantial market capitalization and trading volume. The move follows growing demand for crypto investment vehicles, though the SEC has historically been cautious about approving spot products for assets beyond Bitcoin.