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Will Dogecoin Price Soar 200% As DOGE ETF Approval Odds Hit 75%?

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2 months ago

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Dogecoin price has been gaining attention as analysts predict a potential surge of 200% amid growing speculation about a Dogecoin ETF approval. Market participants are closely watching price movements, with many expecting DOGE to surpass its all-time high of $0.739.

As the U.S. Securities and Exchange Commission (SEC) reviews multiple applications for a Dogecoin ETF, traders and investors are anticipating a major rally.

Dogecoin ETF Filings and Market Expectations

Grayscale Investments, CoinShares, and WisdomTree have submitted applications for a Dogecoin ETF, aiming to provide investors with regulated exposure to the cryptocurrency. The SEC has acknowledged Grayscale’s filing, signaling the beginning of a formal review process.

If approved, the ETF could attract institutional investors, potentially driving up Dogecoin price.

Regulatory sentiment toward cryptocurrencies appears to be shifting, especially under the current administration. Recently, the SEC dropped its lawsuit against Coinbase, reflecting a more crypto-friendly stance. This change has fueled optimism regarding the approval of new crypto investment products, including altcoin ETFs like XRP, Litecoin, Hedera and a Dogecoin ETF. Consequently, analysts suggest that if an ETF receives approval, Dogecoin price could see a substantial increase.

Technical Indicators Suggest a Bullish Outlook

Chart analysis indicates that Dogecoin price may be preparing for a breakout. A falling wedge pattern has formed on the four-hour chart, and DOGE has broken out of this formation. This pattern is typically seen as a bullish signal, suggesting further price gains.

Key indicators also point toward potential upside movement. The Average Directional Index (ADX) stands at 27.95, indicating that a trend is forming. Meanwhile, the Relative Strength Index (RSI) has risen to 43.67, recovering from oversold conditions. If RSI crosses above 50, it could confirm bullish momentum for Dogecoin price.

DOGE/USD 4hr price chart (TradingView)DOGE/USD 4hr price chart (TradingView)
DOGE/USD 4hr price chart (TradingView)

Traders are watching key support and resistance levels. The support level is around $0.23, while resistance sits at $0.26 and $0.30. A move above these levels could signal further gains for Dogecoin price.

Analysts Predict DOGE Price Could Reach $3 to $5

Several analysts like Javon Marks are forecasting major price increases for Dogecoin in the current market cycle. Concurrently, Basic Trading has identified $0.2, $0.5, and $5 as key price levels, noting that Dogecoin price is in an upward trend despite recent corrections. The analyst pointed out that DOGE has followed a historical pattern of large percentage gains in previous bull cycles.

Crypto analyst Ali Martinez has also projected a bullish scenario for Dogecoin price. He highlighted that if the support range between $0.16 and $0.19 holds, DOGE could rally to $3. Similarly, analyst Trader Tardigrade stated that Dogecoin’s macro chart is showing a similar pattern to the 2017 cycle, which could result in a surge toward $1.7.

Other analysts have set even higher price targets. Dima Potts suggested that Dogecoin price could reach $10 if it mirrors past bull market trends. Some traders believe that DOGE’s historical price movements indicate a strong possibility of surpassing previous all-time highs.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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XRP Leads Crypto Shopping List For Latin America Ahead Of ETH, SOL—Report

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2 minutes ago

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April 20, 2025

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

New statistics released by crypto platform Bitso shows that XRP, as a payment option, is gaining traction with Latin American consumers. XRP currently accounts for 9% of all purchases on the platform and is gaining on much older crypto options like Ethereum and Solana. This marks a huge turnaround from 2023 when the token barely registered in an average customer portfolio in Latin America.

Mexican Users Drive XRP Adoption Throughout The Region

Interest in XRP among the Latin American nations was propelled by Mexican cryptocurrency traders. In Bitso’s report, Mexican users applied 10% of all cryptocurrency buying activity towards stocking up on XRP. This pattern occurred as total platform activity slowed, but XRP buying increased significantly against other cryptocurrencies.

Mexican popularity of XRP is noteworthy because Bitso processed substantial volumes of cross-border payments there. According to their reported volumes, Ripple processed $3.3 billion in remittances through their channel with Bitso in 2022 from the United States into Mexico.

Source: Bitso

Portfolio Composition Reflects Drastic Spike In XRP Holdings

In such a context, the report by Bitso brings out the most impressive discovery: the pace with which XRP came to the portfolios of Latin American cryptos. As of 2023, XRP was non-existent in the typical portfolio composition of Latin American Bitso clients. In 2024, that number had risen to 13%, reflecting a seismic change in local investment patterns.

Source: Bitso

This rapid adoption means portfolios of users in the region now include a significant XRP component, despite the token not registering in portfolio stats just a year earlier. The change signals growing confidence in XRP among Latin American cryptocurrency investors.

Bitcoin And Stablecoins Still Dominate Trading Activity

Though XRP demonstrated impressive growth, Bitcoin and stablecoins are still the leading options among Latin American crypto users. Based on the Bitso report, Bitcoin represented 22% of the total purchases on the platform in 2024, a decrease from nearly 30% during the first half of the year.

XRP is currently trading at $2.06. Chart: TradingView

Stablecoins led all cryptocurrency categories with almost 40% of purchases attributed to these dollar-pegged cryptocurrencies. Stablecoin appeal is probably due to their application as a local currency inflation hedge and entry point for other crypto investments.

Political Changes And Price Performance Drive Interest

XRP’s 230% price appreciation in 2024 – its best since 2021 – also likely helped to make it so popular. The majority of the rally, as per the report, occurred in the fourth quarter of the year.

The hope for XRP seems linked to US political events. The report indicates Donald Trump’s presidential win and SEC Chair Gary Gensler’s resignation spurred new interest in XRP. These triggered expectations of possible regulatory clarity that could favor XRP and its parent company Ripple, which has faced legal battles with US regulators.

Featured image from Pexels, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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What’s Up With BTC, XRP, ETH?

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6 hours ago

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April 20, 2025

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Crypto Market Highlights: Another week has ended within the unpredictable world of cryptocurrencies, and investors are left cautious due to turbulent price actions. Bitcoin (BTC) price has traded around the same level in the past 7 days, whereas Ethereum (ETH) managed to lose nearly 1% within the exact duration. Ripple’s XRP price continued its consolidation phase this week, adding to speculations about its future price movements.

Mentioned below are some of the most buzz-worthy cryptocurrency market highlights reported by CoinGape Media over the past week.

Crypto Market Highlights: BTC Updates This Week

BTC price shut the week at around the $85K level, riding a roller coaster in the past seven days. The weekly bottom and peak for the flagship crypto were recorded at $83K and $86K, respectively. This turbulent price action comes despite a stockpile of bullish developments that appear to have considerably impacted investor sentiment this week.

CoinGape reported that Michael Saylor’s MicroStrategy again purchased 3,459 Bitcoin for $285 million and rattled the crypto market. The MSTR stock price also surged subsequently.

Further, Semler Scientific filed to buy $500 million worth of Bitcoin amid its $30 million DoJ settlement this week. With this mover, the firm aimed to boost its Bitcoin reserves despite the broader market uncertainty.

Meanwhile, it’s worth pointing out that U.S. President Donald Trump announced up to 245% tariffs on China this week. On the other hand, China was apparently mulling over the sale of 15K BTC, another intriguing development that captured investors’ attention globally.

Besides, BTC whales were recorded as absorbing 300% of the flagship coin’s new supply, sparking optimistic speculations about long-term price prospects.

Ethereum & XRP Developments

ETH is trading around a $1,600 price level, losing roughly 3% in the last 7 days. Despite this waning action, CoinGape has reported that a rally to $4,800 awaits the second-largest crypto by market cap. This bullish ETH price projection comes as the coin is trading on the north side of a key resistance trend.

However, it’s also worth pointing out that Ethereum faced increased selling pressure due to heightened whale dumps this week. In response to this, market participants are conversely anticipating a potential dip below $1.5 may also be possible.

Besides, Ethereum ETFs recorded $32 million worth of weekly outflows this week, adding further risk to the asset’s price.

In addition, Ethereum fees have also witnessed a severe price decline as user activity decreased amid the recent market turmoil.

XRP price stood at the $2.08 price level after witnessing a highly volatile trading session over the past week. Despite soaring ETF odds, the crypto has yet to see a rising price action. Notably, 9 XRP ETFs have been filed to date, including Bitwise, 21Shares, Grayscale, and Canary Capital.

On the other hand, Ripple whales have also moved hundreds of millions of dollars worth funds this week. 

The XRP lawsuit advanced as the U.S Court of Appeals granted Ripple and the SEC’s motion to suspend their appeals while they finalized the settlement. Overall, the abovementioned updates were some of the top crypto market highlights reported by CoinGape Media over the past week.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Uniswap Founder Urges Ethereum To Pursue Layer 2 Scaling To Compete With Solana

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7 hours ago

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April 20, 2025

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As Solana continues its ascent, experts are not writing off Ethereum’s chances to compete favorably in decentralized finance (DeFi). Uniswap founder Hayden Adams wants Ethereum to hone in on Layer 2 scaling to even the odds with Solana.

Uniswap Founder Wants Ethereum To Continue Horizontal Scaling

The calls for Ethereum to focus on Layer 2 scaling are growing louder, with Uniswap founder Hayden Adams joining the train. The Uniswap founder disclosed his stance in an X post, calling for Ethereum to continue its Layer 2 scaling development.

Adams notes that Layer 2 solutions remain Ethereum’s best chance to keep its skin in the DeFi game amid rising competition from Solana. He notes that Solana is better suited to do DeFi on its layer 1, given its roadmap and overall approach compared to Ethereum.

Ethereum, aware of the challenges of its Layer 1, has pivoted to an L2-focused roadmap since 2020. However, a broad ecosystem focus for Layer 2 scaling solutions has left the base layer without major updates for a while, whipping up conversations for a change in approach.

Despite the push for a return to a Layer 1-focused approach, the Uniswap founder wants Ethereum to continue on its existing roadmap. He took swipes at community members pushing for a change in strategy every month, urging them to “pick a lane” and mitigate the attendant risks.

“Ethereum has been working towards an L2-centric/horizontal scaling roadmap for 5+ years,” said Adams. “You want to throw this away at the final stretch because of what reason?”

Ethereum and Solana are going neck and neck with each other with a Coingape analysis weighing whether ETH price will hit $3 before SOL clinches $200.

A Layer 1-centric Approach Is Still Acceptable

The Uniswap founder disclosed in the post that he remains open to the possibility of a pivot to a Layer 1-centric approach. However, the approach has to be explicit and realistic, with Adams recommending key network changes.

“I’m fine with L1-centric scaling approach if it’s explicit and approached realistically,” said the Uniswap founder. “We would have to drop a ton of philosophical stuff like any laptop can run a node.”

He adds that Uniswap’s largest market share comes from Layer 1, making a pivot still a win for his project. However, the approach inflames centralization risks affecting the ability of individuals to run full nodes.

Amid the raging conversations for scaling direction, Ethereum is facing its worst quarterly price performance in nearly a decade. ETH targets a $1600 breakout as prices continue to wallow under $2,000 since slipping below the psychological level.

Tron founder Justin Sun says he is not selling his ETH holdings despite falling prices, pledging to collaborate with Ethereum developers to trigger ecosystem growth.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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