🐕 More and more crypto investors believe that the U.S. Securities and Exchange Commission will approve a spot DOGE-ETF by the end of 2025. According to the Polymarket platform, the likelihood of a Dogecoin-based exchange fund increased to 62% on Thursday, up from 27% in January. 🚀🐶🫶
Only 10% of users on the betting platform Polymarket believe that the administration of Donald Trump will add the meme coin to the U.S. strategic reserve.
Data from another platform, Kalshi, shows that the probability of Dogecoin reaching $1 by early June has dropped to 5%. The chances of this happening by January 2026 have fallen from 60% to 19%.
Technical analysis of the Dogecoin chart shows that the price of the meme coin remains under pressure after a decline of more than 47% from the peak level in December 2024. It currently remains below the 50% Fibonacci retracement level at $0.2825.
Furthermore, a 'bear flag' pattern is forming on the chart, indicating a risk that the meme coin could experience a strong bearish breakout down to $0.20, the lowest point this month. A drop below this level could cause DOGE to fall to $0.15, the 78.6% Fibonacci retracement level.