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Dogecoin is showing bullish momentum and could soon break above $0.25.
A proposed Dogecoin ETF and Musk's support could drive adoption and price growth.
Increased network activity suggests strong investor interest in DOGE.
Dogecoin, the well-known meme cryptocurrency, is once again attracting attention in the crypto market. As of today, the price of Dogecoin is around $0.21. This value shows a slight drop compared to its recent peak, but the coin is still performing well overall.
Throughout May, Dogecoin has stayed in a price range between $0.21 and $0.26, suggesting growing investor interest and market stability.
From a technical analysis point of view, Dogecoin is showing bullish signs. This means that many traders believe the price may rise soon. The coin is currently trading above its 20-day and 200-day exponential moving averages (EMAs). These indicators are important because they help determine the trend of the market.
The 20-day EMA is around $0.2207, and the 200-day EMA is around $0.2179. These values act as support levels. If Dogecoin's price stays above them, there is a higher chance of upward movement. The current resistance levels—the price points where selling pressure may increase—are at $0.235 and $0.253. If Dogecoin breaks past these levels, experts believe it could climb to around $0.275 or even $0.30 in the next few weeks.
One of the most encouraging signs for Dogecoin is the rise in its network activity. Recently, the number of new Dogecoin addresses has gone up by more than 100%, while the number of active users on the network has increased by 111%. This kind of growth usually comes before major price movements and suggests that more people are becoming interested in using or holding Dogecoin.
In addition, the number of zero-balance addresses—wallets that currently hold no DOGE—has also grown by over 150%. This indicates that many users are experimenting with the network, possibly preparing to buy or transfer Dogecoin soon.
Also Read: Dogecoin to the Moon? 21Shares Files for DOGE ETF
One of the most significant developments for Dogecoin is the news that Grayscale, a well-known digital asset manager, has applied to create a Dogecoin exchange-traded fund (ETF). An ETF would allow investors to buy DOGE through regular stock exchanges, making it easier and more attractive for institutional investors to get involved.
This move could bring a lot more money into the Dogecoin market. Analysts believe the chances of the ETF being approved have increased, especially now that the U.S. Securities and Exchange Commission (SEC) is being led by Paul Atkins, who is known for supporting cryptocurrency innovation.
Elon Musk, the billionaire entrepreneur and CEO of companies like Tesla and SpaceX, has long been a supporter of Dogecoin. His influence on the coin remains strong. Tesla and SpaceX already accept Dogecoin as payment for some of their merchandise, giving the coin a real-world use case.
There is also talk that Musk might add Dogecoin as a payment method to his social media platform, X (formerly Twitter). If that happens, it could significantly increase the everyday use of Dogecoin, making it more than just a joke or meme coin. Greater adoption in the real world usually leads to higher prices and more stable demand.
Also Read: Crypto Report (April 2025): Bitcoin Surges Over 14%, Ethereum, Solana, and Altcoins Follow Suit.
Several market analysts have shared positive price predictions for Dogecoin shortly. According to some forecasts, Dogecoin could reach around $0.259 in June 2025. If bullish momentum continues, prices could rise by as much as 43% over the next few months, potentially hitting $0.2989 or more.
These predictions are based on the assumption that Dogecoin will continue to receive support from investors, benefit from upcoming ETF approval, and gain more real-world usage. However, the crypto market is always unpredictable. Investors should keep in mind that prices can swing quickly, both up and down.
While Dogecoin has many positive developments going for it, some challenges remain. First, the overall crypto market is still very volatile. Prices can change quickly based on news, government actions, or changes in global investor sentiment.
Second, Dogecoin is often criticized for having limited use cases compared to other cryptocurrencies. Although it is gaining utility thanks to Elon Musk’s influence, it still lacks the wide-scale functionality seen in coins like Ethereum or Solana.
Lastly, Dogecoin’s supply is not capped, which means more coins can always be created. This inflationary design can limit its long-term value unless demand grows much faster than supply.
Dogecoin is once again on the rise, with its price hovering close to $0.25. Technical indicators show bullish trends, and on-chain data highlights growing interest and activity. Important events like the proposed Dogecoin ETF and possible integration into Elon Musk’s platforms are adding fuel to its momentum.
Though the path is not without obstacles, Dogecoin’s mix of cultural impact, growing adoption, and increasing investor support positions it well for a possible breakout. If current trends continue, Dogecoin could flip the crypto world once again—this time not as a meme, but as a serious digital asset with real potential.
