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Dogecoin price is trading around 0.2813 at the time of writing. The cryptocurrency has fallen by 2.7% in the past 24 hours and risen by 12.3% in the past 7 days. This was a quicker performance compared to the rest of the crypto market, which improved by 1.9% during the same time.
Trading volume declined to $4.98 billion within a 24-hour time frame, signaling short-term caution by traders. Still, the weekly gain points out investor interest in the asset. Analysts point out that DOGE tends to move independently from the broader market because it has a strong following on social and cultural bases.
The US Securities and Exchange Commission (SEC) delayed a ruling on a proposed Dogecoin ETF (exchange-traded fund) until November 2025. Past ETF approvals of Bitcoin and Ethereum have caused significant price rockets, and it is therefore speculated that Dogecoin might do the same.
The active community has long contributed to Dogecoin's rise. High-profile endorsements of individuals such as Elon Musk have repeatedly driven trading. Musk's past words, including referring to DOGE as the crypto of the people, have caused some price movements.
Merchant adoption also keeps increasing. Tesla, AMC, and GameStop companies now accept payment using DOGE. Such integrations make the token a convenient medium of exchange and not a speculative asset. Reddit and X online communities also maintain high engagement, and tipping and group efforts reinforce the use of organic systems.
Also Read: Crypto Prices Today: Bitcoin Price Surges Past $114,000, Ethereum at $4,411, Dogecoin Jumps 5.06%
DOGE has a track record of correcting down and then recovering based on community buying. The recent increase in the week suggests that buyers are active at lower price levels. Analysts suggest that a 50% increase, taking DOGE towards $0.395, would require breaking key resistance zones while maintaining momentum.
The slow decision by the SEC brings about regulatory uncertainty. Moreover, Dogecoin lacks robust underlying metrics, such as high transaction throughput or significant developer participation. This reliance on community sentiment exposes the asset to a change in sentiment.
The approval of the ETF and the overall DOGE adoption trends will influence the short-term course of cryptocurrency. They both might define whether Dogecoin will be able to experience another massive price jump or will undergo new pressure.
