Dogecoin is back in the spotlight as Grayscale's Dogecoin Spot ETF application remains under lengthy review by the U.S. Securities and Exchange Commission (SEC). Notably, the regulator has yet to make a final decision on more than 70 altcoin ETF applications, a list that includes not only Dogecoin but also other major coins such as XRP, Solana, and Litecoin.
Grayscale first launched the DOGE Trust in January 2025 and formally filed for ETF conversion in March, but the agency continues to cite the need for “additional analysis” to ensure compliance with Section 6(b)(5) of the Securities Exchange Act.
SEC Puts Grayscale’s Dogecoin Spot ETF on Long-Term Review Track
This reflects the slow but ultimately successful path of the Bitcoin spot ETF, which, after a lengthy review process, has attracted billions of dollars in inflows since its approval. According to current SEC filings, the next decision date for the DOGE ETF is set for June.
However, this does not guarantee approval, and the odds of Polymarket getting the green light before the end of July have jumped to 23%. Bloomberg analyst James Seyffart clarified that this delay is standard procedure for 19b-4 filings, and that October is still the deadline for many of these products.
DOGE Price Movement: Short-Term Spike, But Can It Sustain?
According to CoinMarketCap data, over the past 24 hours, Dogecoin price has increased by 7.55% to $0.24082, with trading volume jumping 62.34% to $3.25 billion - indicating increased market activity and speculative interest.
However, technical indicators suggest that traders should prepare for both bullish continuation and a possible pullback. As per the chart below, DOGE is currently hovering near the 1.618 Fib extension level at $0.24501, with the next key resistance targets being 2.618 at $0.26200, 3.618 at $0.27899, and 4.236 at $0.28949.
A strong breakout above $0.245 could signal a continuation towards the $0.26–0.29 zone if accompanied by volume.
Meanwhile, the Relative Strength Index (RSI) is at 65.50, approaching the overbought zone. The slope of the line suggests that buyers are gaining control over sellers. On the other hand, the Balance of Power (BoP) is slightly negative at -0.05. A sustained move into positive territory would indicate that buyers are gaining control of the market.