Dogecoin (DOGE) is showing promising technical indicators that could signal an upcoming price surge. As of July 1, 2025, the memecoin is trading at $0.16 with a 2% daily gain, while forming a bullish falling wedge pattern on its weekly chart - a formation that has historically preceded significant rallies. The cryptocurrency currently faces immediate resistance at $0.168, with analysts suggesting that a decisive break above $0.17 could propel DOGE toward the $0.21 price target. This technical setup mirrors previous cycles where similar patterns led to substantial upward movements, making this a potentially pivotal moment for DOGE investors.
Dogecoin Forms Bullish Pattern Amid Struggle to Break Key Resistance
Dogecoin's price action reveals a recurring technical pattern that historically precedes rallies. The memecoin is currently forming falling wedge formations on its weekly chart, a structure that has consistently led to upward breakouts in past cycles.
DOGE trades at $0.16 with modest 2% daily gains, but faces immediate resistance at $0.168. A decisive break above $0.17 could open the path toward $0.21, according to technical analysts. Market observers note the current setup mirrors previous instances where similar chart patterns triggered substantial price appreciation.
The recovery lacks strong follow-through despite recent momentum, leaving the cryptocurrency trapped between support and resistance levels. Traders await either confirmation of breakout or rejection at current levels.
SEC Delays Decision on 21Shares Spot Dogecoin ETF, Sparks Market Uncertainty
The U.S. Securities and Exchange Commission has postponed its ruling on 21Shares' proposed spot Dogecoin ETF, citing a need for additional review time. The regulatory body now has until August 17 to evaluate whether the fund meets Nasdaq's listing requirements under Rule 5711(d).
Market participants view ETF approval as a pivotal moment for Dogecoin's institutional adoption. Bloomberg analysts now assign a 90% probability of approval, reflecting growing institutional confidence in meme coins.
DOGE prices showed muted reaction, trading range-bound NEAR $0.165 despite a 13% surge in trading volume. The cryptocurrency currently fluctuates between $0.1623 and $0.1678, demonstrating characteristic volatility amid regulatory uncertainty.
Analyst Predicts Dogecoin Rally Could Surpass $1, Targets $1.17
Dogecoin's recent price action shows modest volatility, dipping to $0.162 after a brief climb above $0.169 last week. Despite the pullback, TradingView analyst Master Ananda argues the meme coin's bullish trajectory remains intact, with historical support levels suggesting a rally beyond $1 is plausible.
The analyst points to a critical support structure formed in June 2022, which previously catalyzed an 880% surge to $0.47 by December 2024. Fibonacci extensions now indicate potential resistance near $1.17, reinforcing the case for upward momentum.
Market sentiment appears divided as Doge struggles to maintain short-term gains, yet the broader technical narrative favors long-term holders. 'No reason for this rally to stop below a dollar,' Ananda asserts, citing the coin's resilience against bearish pressures since its 2021 peak.
