Dogecoin has once again become the center of attention, but not for the reasons traders expected. The U.S. Securities and Exchange Commission (SEC) has delayed its decision on a series of spot cryptocurrency ETFs, including the Dogecoin fund proposed by Grayscale. While this move prevents DOGE from receiving immediate institutional support, it also highlights that this once-meme asset is now being considered alongside Bitcoin and Ethereum for mainstream investment products. The daily chart shows DOGE oscillating around $0.22, stuck between a downtrend and the promise of long-term legitimacy.
Dogecoin Price Prediction: Why Is Dogecoin Getting Attention?
The SEC has once again postponed its decision on several cryptocurrency-related ETFs, including the spot Dogecoin ETF proposed by Grayscale. Along with filings for Bitcoin, Ethereum, XRP, and Litecoin, DOGE is now also caught in a regulatory deadlock.
A new deadline has been set for October, making the market uncertain. This delay is a double-edged sword for Dogecoin: it signals growing institutional interest but also prolongs the wait for mainstream adoption catalysts.
How Does Dogecoin React?
Looking at the daily DOGE/USD chart, the price is fluctuating around $0.219, down nearly 4% today. Consecutive Heikin Ashi candles show red signs after an unsuccessful attempt to hold above $0.25.
The Bollinger Bands indicate that volatility is narrowing, suggesting the market is preparing for a breakout. Importantly, the price has slipped below the 20-day moving average (around $0.24), shifting to a short-term downtrend.
The ETF delay is precisely what has led to this rejection, as traders are waiting for a green light from regulators that ultimately did not come. With the news released, weak investors are retreating, leaving the chart in a crucial bend.
Major Support And Resistance Levels
Immediate support level: $0.216 (just above the lower Bollinger Band). If broken, DOGE could test the $0.19 level again.
Major support area: $0.15–$0.16, where strong accumulation took place in June-July.
Resistance level: $0.25 remains the ceiling. If it breaks above $0.25, the price could rise to $0.30 or higher.
Currently, the bears are in control unless DOGE can quickly reclaim the $0.23–$0.24 level.
ETF Delay: Short-Term Pain or Long-Term Catalyst?
From a psychological standpoint, the delay of the Dogecoin ETF often creates short-term bearish pressure. Traders had priced in a bullish speculative outlook, and now those positions are gradually collapsing. However, the fact that a spot Dogecoin ETF is on the SEC's table is a historic event. This signals that DOGE is no longer just a meme coin—it is being positioned alongside Bitcoin and Ethereum for institutional-level investment tools.
It is a long-term bullish story, and when approved, DOGE could see strong inflows from institutions.
Dogecoin Price Prediction: What Will Happen Next With DOGE?
In the short term, $Dogecoin is expected to continue facing pressure, fluctuating between $0.19 and $0.23. A decisive break below $0.19 could accelerate the decline towards around $0.15. On the other hand, if the overall cryptocurrency market sentiment turns positive and $DOGE regains $0.25, the price could rise to $0.30 thanks to expectations of ETF approval by the end of the year.
This essentially means that the ETF delay has shifted DOGE from a bullish breakout state to a cautious accumulation state. Traders should closely monitor trading volume - any spike in buying pressure near $0.19 could mark a bottom before the next rally.
