In an unexpected move amid a wave of liquidation sweeping the digital asset markets, the Dogecoin (DOGE) rose by 4.29% over the past 24 hours, surpassing the technical resistance level at $0.177, closing at $0.180, amid escalating geopolitical tensions between (Israel and Iran)
This rise came despite intense market pressures, enhancing the image of DOGE as a digital asset that is starting to establish its position beyond being just a ‘meme coin’. The strong performance is attributed to a combination of technical and network factors, most notably the increased adoption of DOGE within decentralized finance applications on the Base network of Coinbase, after the wrapped version (Wrapped DOGE) was integrated into the DeFi ecosystem, attracting the attention of both individual and institutional investors.
In parallel, speculation is increasing regarding the potential approval of the first DOGE Exchange-Traded Fund (ETF) in 2025, with approval odds estimated at around 51% according to data from the Polymarket platform. This optimism fueled massive buying waves from ‘whales’, supporting the price momentum.
Despite market volatility, the Dogecoin network maintained active levels in terms of daily addresses and transaction volume, indicating relative stability in user engagement.
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