Chances of DOGE ETF Spot Approval Rise as Odds of Price Hitting $1 Mature

A lot of investors believe that the SEC is not satisfied with the performance of this coin. Hence spot approval may come in for DOGE ETF later in 2025 itself. Several market reviews suggest that the odds may turn true now. Already the chances of spot approval of ETF have increased to 62% as of the latest news that came on Thursday.  

In January the chances were only 27%. It speaks volumes about the dropping potential of the coin. But traders are divided on this note. Some of them believe that the pro-crypto government under Donald Trump will not approve this.  

It is not worthwhile developing a strategic reserve with Dogecoin. The market is not ready to forget the contribution of the coin in 2021. At the same time, the fact that the memecoins are frequently showing bullish streaks can’t be undone.  

According to another review, the Dogecoin price may soon rise to $1. If that happens, the meme coin market will be revived for good.  

Technical PoVs 

A daily analysis shows that Dogecoin has fallen 47% since its annual high in December 2024. The Fibonacci retracement limit for this coin was fixed at $0.28. Currently, the coin is trading below 50% of that point. 

A death cross pattern is about to form

  

The death cross pattern sprayed between 50 and 200-day potential moving averages is a huge Red flag for any coin. It is a sign that the market is going to stabilize in its bearish form. Meanwhile, the coin price movement also suggests the same. It has slang back to 0.26 USD.  

Trader’s Intake 

Traders should not be very optimistic about the coin. It seems that the market will remain bearish for Dogecoin for a long time. The value of the coin might trickle down to $0.20 as well. The coming 3 months would be very vital for the coin.  

If there is any chance of revival then it would be visible by the end of March or the beginning of April. Therefore investors must bear the downfall or keep a close eye on the flag chart pattern. If the coin keeps forming the bearish flag pattern every day, It means it’s time to sell off.