The Dogecoin price climbed nearly 4% over the past 24 hours, reaching $0.226, even as the U.S. Securities and Exchange Commission (SEC) postponed a decision on Grayscale’s DOGE ETF application. Trading volume also surged by 12%, surpassing $2 billion in daily activity — a strong indicator of market interest.
Despite the regulatory uncertainty, analysts remain bullish. The meme coin’s resilience has reignited price forecasts and speculation about another breakout cycle.
Dogecoin Price Shows Breakout Potential
Crypto analyst Ali Martinez noted that Dogecoin may be preparing for a bullish surge if it breaks a critical resistance level at $0.229. If this barrier falls, the coin could target a price of $0.265 in the short term.
“A close above $0.229 may act as the springboard for further gains,” Martinez stated.
Analyst Javon Marks echoed this optimism, pointing to historical Dogecoin cycles. Based on past bull markets, Marks predicted that DOGE might rise more than 215%, potentially hitting $0.73905.
“The chart structure mirrors previous bullish phases. A 215% gain remains technically possible,” he explained.
Can Dogecoin Reach $1 — or Even $6?
Some technical analysts go even further. Based on chart formations and logarithmic growth projections, Dogecoin could aim for $1 and beyond in the current cycle.
One analyst suggested the token may be forming a ‘cup and handle’ pattern, typically considered a bullish setup. On logarithmic charts, projected price targets extend up to $6.00 — though these remain speculative.
ETF Delay Doesn’t Derail Market Optimism
The DOGE ETF delay by the SEC has not shaken investor sentiment. The Commission is expected to issue its decision by June 17, but traders appear to be positioning early.
Despite the lack of official ETF approval, Dogecoin continues to capture attention — not only for its meme culture appeal but also for its surprisingly strong price action in the face of market hesitation.
