Dogecoin has recently increased slightly by 0.83% in the past 24 hours, reaching a value of $0.2329, while still maintaining a consolidation structure. A cryptocurrency trader, Trader Tardigrade, has noticed the formation of an expanding wedge pattern on the weekly chart, predicting a final target of $1.4.

This new interest in memecoin is related to Grayscale Investments updating their S-1 filing with the SEC for a spot Dogecoin ETF. Market expectations indicate that an institutional narrative is being reinforced alongside promising technical outlooks.

Dogecoin Chart Structure Indicates a Target of $1.4

According to analyst Trader Tardigrade, the expanding wedge pattern on the weekly chart shows a series of higher lows and highs. Previous bullish rallies have resulted in a 120% increase from $0.22 to $0.48, followed by a surge of 190% to $0.77. If this rhythm continues, the final target of the pattern at $1.4 remains possible. Over time, increasingly frequent expansions will further strengthen this optimistic outlook.

On the daily chart, DOGE is showing a clear accumulation phase within the range of $0.21–$0.30 since February. The gradually increasing lows in this range indicate that bullish sentiment is rising, showing continued buying interest in memecoin.

The technical price threshold is relatively clear; a strong breakout above $0.25 could push the price up to $0.30. If the upward momentum continues past this threshold, the likelihood of the price testing $0.50 again is very high. The Relative Strength Index (RSI) is at a neutral level of 52, indicating that accumulation is occurring before a breakout upwards.

Grayscale's ETF Update Fuels Memecoin Appetite

Recently, Grayscale submitted an updated S-1 form to the SEC, aiming to list under the ticker "GDOG" on NYSE Arca. This ETF will directly hold DOGE, allowing access to the spot market value minus management fees. Choosing Coinbase Custody as the storage location will ensure compliance with institutional standards.

This process is based on the 19b-4 filing dated February 13, 2025, by the company. A positive decision from the SEC could enhance liquidity and attract significant institutional interest. The ETF filing also establishes a positive framework for previously stalled products, similar to 21Shares. October 2025 has become a crucial time for the spot price momentum and derivatives market of Dogecoin.