Dogecoin Price Holds Support Amid ETF Buzz – Can DOGE Hit $0.47?

Dogecoin price action is gaining renewed attention as bullish sentiment builds around rumors of a potential spot DOGE ETF. With long positions surging and support at $0.142 holding firm, the meme-inspired token could be on track for a major breakout—possibly toward $0.47.

Bullish Momentum Builds as DOGE ETF Speculation Rises

Dogecoin (DOGE) has been navigating turbulent waters in recent weeks, mirroring broader market volatility driven by geopolitical and macroeconomic factors. Currently trading at $0.16 as of June 27—down just 0.3% in the last 24 hours—DOGE is showing signs of resilience. A key support zone around $0.13, first established in late 2024, continues to act as a reliable floor against further downside pressure.

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One of the main catalysts behind Dogecoin’s stability is rising speculation around a spot DOGE ETF. According to Polymarket, 70% of participants believe an ETF will be approved before the end of 2025. The excitement intensified following Bitwise’s updated S-1 filing for a DOGE ETF, prompting Bloomberg analyst Eric Balchunas to interpret the move as a sign of progress with the SEC.

This has led to increased activity in futures markets, where long interest has climbed sharply. A positive funding rate further confirms that traders are prepared to pay to keep their bullish bets open, signaling confidence in the potential for upward price movement.

Double-Bottom Pattern Points to $0.47 Dogecoin Price

Technical analysis adds weight to the bullish narrative. A double-bottom formation on Dogecoin’s weekly chart suggests the potential for a strong rebound. Key support at $0.142 has now been tested twice—first in April 2025 and again this week—showing solid defense by buyers.

If this reversal pattern plays out, the initial target lies at the neckline resistance of $0.26. A successful break and retest of that level could pave the way toward the full pattern target at $0.47.

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Momentum indicators also support the bullish case. The Average Directional Index (ADX) is sloping downward, suggesting the previous downtrend is losing strength. Meanwhile, the Relative Strength Index (RSI) is beginning to turn higher. A move above the midpoint of 50 would confirm building buying pressure and validate the potential rally.

In conclusion, Dogecoin appears poised for a breakout as optimism around a DOGE ETF builds and long traders stake their positions. If support at $0.142 holds and momentum continues to build, DOGE could be well on its way to testing the $0.47 level in the weeks ahead.

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