DOGE Targets $0.30 Amid ETF Hype and Bullish Momentum

Dogecoin (DOGE) has experienced a significant surge, reaching $0.2368 with a 37.56% weekly gain, fueled by renewed investor Optimism following 21Shares’ ETF filing with the SEC. The memecoin’s market cap rose 29.2% to $35.27 billion, despite a 13.73% drop in trading volume. Technical indicators point to a potential rally toward $0.30, though analysts caution about pullback risks from an upcoming token unlock event. The recent price action also liquidated $14 million in short positions, highlighting strong bullish sentiment.

Dogecoin Eyes $0.30 After Breakout Amid ETF Speculation

Dogecoin surged to $0.2368, marking a 37.56% weekly gain as investor optimism reignited following 21Shares’ ETF filing with the SEC. The memecoin’s market capitalization swelled 29.2% to $35.27 billion despite a 13.73% dip in trading volume.

Technical indicators suggest bullish momentum toward $0.30, though analysts warn of potential pullback risks from an impending token unlock event. The rally liquidated $14 million in short positions, confirming a head-and-shoulders breakout pattern.

Analyst Predicts Timeline for Dogecoin to Reach $1 After Key Breakout

Dogecoin’s price trajectory has taken a bullish turn, surging 36% in a week from under $0.17 to above $0.249. Technical analysts highlight a breakout from a descending trendline that had constrained Doge since January 2025, with key resistance levels at $0.44, $0.20, and $0.17 now breached.

The Ichimoku Cloud indicator further supports the potential for sustained upward momentum. Market watchers are now speculating on a path toward the psychologically significant $1 mark, though the timeline remains contingent on maintaining current technical strength and network activity.

Dogecoin Price Prediction: Will DOGE Break $0.30 in May 2025?

Dogecoin has re-emerged as a focal point in the cryptocurrency market, showing renewed momentum after weeks of consolidation. The meme coin breached a critical resistance level in early May, coinciding with heightened network activity and optimism surrounding an updated ETF filing.

On-chain metrics reveal a dramatic surge in activity, with active Dogecoin addresses jumping over 500% in a single day—from 74,000 to nearly 470,000 on May 13. While DOGE has retreated slightly from recent highs, futures open interest continues climbing, up 63.9% week-over-week to $1.62 billion. This divergence between price action and derivatives activity suggests sustained speculative interest in the asset.