Dogecoin (DOGE) is making waves again after a sudden 6% price surge, reigniting discussions about its next big move and whether a breakout is on the horizon.

This unexpected rally has brought Dogecoin back into the spotlight as traders watch key resistance levels closely. With rising futures open interest, growing spot inflows, and bullish technical setups, the market is speculating on how far this Dogecoin price prediction could go.

Dip Buyers Step In to Support Dogecoin Price

On-chain data confirms that dip-buying is actively supporting the market. Glassnode’s HODL waves show that the 1–2 year holding cohort increased from 21.65% to 23.24% in the past month, suggesting long-term conviction among holders.

Dogecoin remains bullish but may pull back before breaking $0.235, with $0.222 as key support. Source: davoody.majid on TradingView

Short-term investors are also accumulating. The 1–3 month holding group grew from 5.43% to 6.58%, indicating that both retail traders and patient investors perceive value at current levels.

The combination of patient long-term holders and active short-term buyers has provided Dogecoin with a solid foundation for further gains, reinforcing market confidence in the ongoing rally.

Technical Indicators Suggest Bullish Breakout

Chart patterns and indicators add weight to this bullish narrative. The 4-hour chart recently broke out of an inverse head-and-shoulders pattern, a setup that often signals the end of a bearish phase.

Dogecoin shows a symmetric triangle breakout, targeting $0.37 short-term, with institutional interest from a $175M DOGE treasury potentially supporting further gains. Source: Senior via X

This pattern gives a near-term Dogecoin price prediction of $0.248, about 7.4% above current levels. Adding to the optimism, the 20-period EMA crossed above the 200-period EMA, a golden crossover, with two more EMA crossovers nearing confirmation, potentially fueling a larger rally.

Futures and Options Market Points to Growing Optimism

Derivatives data show that traders are positioning for upside. Futures open interest has jumped 16.7% to $3.89 billion, while options open interest has spiked over 300%. Long/short ratios on major exchanges remain heavily tilted toward the long side, suggesting confidence in a breakout.

Still, analysts warn that spot inflows must rise to confirm this futures-driven optimism. Without strong spot demand, heavy leverage could trigger sharp liquidations if the price fails to hold above $0.235.

Key Resistance and Support Levels to Watch

The immediate resistance sits at $0.235, with a breakout likely to target the $0.260–$0.280 range. On the downside, $0.212 is the first key support. A break below $0.204 would completely invalidate the bullish structure and could bring Dogecoin price back toward $0.190 or even the $0.150 demand zone.

Dogecoin’s $0.209 support is critical, with a hold likely pushing prices toward $0.225–$0.241, while a breakdown could risk a drop to $0.200. Source: ????????? via X

For traders watching the market, this makes the next few sessions critical for Dogecoin price prediction today and the overall future of Dogecoin.

Dogecoin ETF Proposal Fuels Market Excitement

Adding to the bullish sentiment, multiple asset managers—including Grayscale, Bitwise, and REX-Osprey—have filed for a spot Dogecoin ETF. The latest filing suggests that at least 80% of the fund would hold Dogecoin directly or through futures and swaps.

Dogecoin teases a breakout as large-cap meme coins rise, with a DOGE ETF expected this week, potentially acting as a major market catalyst. Source: Fabix via X

Analysts estimate a 90% probability of ETF approval before the end of 2025. If approved, this would make Dogecoin one of the few meme coins with a regulated investment vehicle, potentially driving new institutional demand.

Looking Ahead: Will Dogecoin Reach $1?

While $1 remains a psychological milestone, analysts caution that such a move would require significant spot demand, regulatory clarity, and sustained network growth. Still, the combination of bullish technicals, rising open interest, and ETF optimism keeps sentiment positive.

Dogecoin was trading at around $0.23, up 5.77% in the last 24 hours at press time. Source: Brave New Coin

For now, Dogecoin price predictions suggest a test of $0.248 is likely if bulls hold above $0.235. Traders should watch spot inflows and key support zones closely as the market approaches a decisive breakout point.