The largest meme coin by market capitalization has seen its price rise nearly 15% over the past two weeks. It peaked at $0.19 on April 26 before returning to the current level of $0.18 (according to CoinGecko data).

Many market observers have noted the recent positive performance, predicting a price surge that has yet to astonish the community. X user Trader Tardigrade claims that DOGE has completed its price breakout by surpassing the $0.175 level, expecting it to rise above $0.20 in the coming days.

CryptoBullet is also optimistic. The analyst believes that the OG meme coin is 'forming a textbook accumulation cylinder,' and according to this model, we could witness a 'massive pump' in the coming months. They forecast that the cycle peak could reach over $3.20 by the end of the year and then decline to current levels by 2027.

Crypto Patel seems to be one of the most optimistic. The technical analyst argues that DOGE has bounced off the long-term support level at $0.169 and is now preparing for a strong price surge up to $32.

Of course, such a price explosion seems unrealistic at this stage, as it would require Dogecoin's market capitalization to exceed $4 trillion. By comparison, the entire cryptocurrency sector is currently valued at just over $3 trillion.

Bullish Factors

One factor that could positively impact the valuation of the meme coin is whale activity. X user Ali Martinez reveals that large investors (those holding between one million and ten million DOGE) have accumulated 100 million tokens over the past week.

Currently, these whales hold over 10.5 billion DOGE, accounting for about 7% of the circulating supply of this asset.

Such accumulation events are often monitored by smaller players and may encourage them to participate. Purchasing DOGE tokens also reduces the supply of the asset in the open market, combined with steady demand, could lead to price surges. However, in this specific case, the amount raised (valued at under $20 million) seems insignificant to drive such a scenario.

Another factor worth exploring is the likelihood of approval for a spot DOGE ETF in the United States. This investment vehicle would provide investors with an easy and managed way to access the meme coin.

Like traditional stock purchases, spot ETFs will be available through authorized brokerage accounts. Investors will hold shares of the fund, while the fund itself will buy and securely store actual cryptocurrencies to back those holdings.

Companies are racing to launch such products in the United States, including 21Shares, Bitwise, and others. Earlier this month, 21Shares filed with the SEC for approval, designating Coinbase Custody as the fund's custodian. Just a few days ago, Nasdaq submitted a form to the regulator, proposing the listing and trading of 21Shares Dogecoin ETF shares on its exchange.

After that development, the chances of approval before the end of 2025 have increased to 75% (according to Polymarket).