ETF Approval Rate for DOGE Increases to 65% – Will $DOGE Soon Hit $1?

Dogecoin (DOGE) has risen by 6.1% in the past 24 hours and is currently at $0.2738 as the U.S. Securities and Exchange Commission (SEC) accepts applications for the immediate exchange-traded fund (ETF) for both DOGE and XRP. Currently, the SEC has 240 days to review and respond to these applications. Thanks to this positive development, the likelihood of approving a DOGE spot ETF by the end of December 2025 has increased to 66% in the Polymarket prediction market.

This is the highest betting amount for the answer 'Yes' achieved since the betting event started. However, bettors are underestimating the possibility of a DOGE ETF being approved before the end of July this year. In addition to Grayscale, Bitwise, Rex Shares, and Osprey Funds have also filed applications with the SEC to list Dogecoin ETFs. Asset management companies want to seize the moment to list these products when a cryptocurrency-friendly regulator takes over. Right after Donald Trump entered the White House, he appointed Mark Uyeda as the Chairman of this organization. Uyeda quickly established a special cryptocurrency task force to meet with industry leaders to discuss ways to provide clearer regulatory guidance to companies, while also announcing an end to the enforcement-oriented approach that his predecessor, Gary Gensler, had implemented during his tenure. DOGE could surge to $0.35 in the near future as positive momentum increases With today's increase, DOGE has risen by 7.1% over the past week, although it is still down 13.6% for the year. Technically, DOGE has established a strong support level at $0.24 and is currently surpassing the significant resistance level at $0.26, signaling further price potential. The momentum indicators support price increase as the Relative Strength Index (RSI) moves above the signal line while the MACD chart records its first bullish reading in 21 days on the daily chart. Currently, DOGE may be on track to reach $0.35 per token in the short term as momentum indicators are confirming the prospect of price increase. For traders, this creates a 30% potential price increase while the downside risk is about 16% if DOGE falls below the $0.24 support level. This leads to a risk/reward ratio of 1.875. Meanwhile, if the price surpasses that level, DOGE could retest the upper trendline shown on the chart, at around $0.38 per coin.