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Publication date: September 4, 2025
In our Nov. 20, 2024 article, we described Dogecoin (DOGE) as the original memecoin, created in 2013 as a humorous response to cryptohype. Despite its playful origins, DOGE had developed into one of the best-known cryptocurrencies, thanks to low transaction fees, speed and a dedicated community. In our previous article, which can be read back HERE the we emphasized Doge's recognizability and user-friendliness.
What has changed since that publication? And does the potential to return to historic heights remain?
What was Dogecoin again
Dogecoin (DOGE) was created in December 2013 by Billy Markus and Jackson Palmer as a lighthearted parody of the crypto hype at the time. It has since become the first true "memecoin," recognizable by its Shiba Inu mascot and a loyal community.
Dogecoin uses a proof-of-work system with inflationary token issuance, which enables fast transactions and promotes its accessibility. Also, Dogecoin ranks in the top 10 cyptos in terms of market capitalization, totaling $32.63 billion.
1. Institutional interest grows
US company CleanCore Solutions has become the first publicly traded company to hold $175 million in DOGE as a primary reserve. This initiative, backed by more than 80 institutional investors and the Dogecoin Foundation, is an important step toward broader institutional adoption.
2. Advances in ETF adoption
Multiple parties, including Grayscale, REX-Osprey and 21Shares have applied for a Dogecoin ETF. The SEC is expected to make a decision between October 2025 and January 2026. An approval could attract significantly more institutional capital.
3. Technical signals and cryptowhales
Dogecoin recently formed a "golden cross" - when the 50-day moving average rises above the 200-day average, which is a positive signal. In doing so, large investors have massively built up Doge, with more than $200 million in inflows from whales
Price development
The chart below shows Dogecoin's price movement since October 2024. After the US presidential election, the currency made a strong advance, but since then the price has almost halved. Moreover, due to its close link to Elon Musk, Dogecoin remains susceptible to large fluctuations.
Currently, Dogecoin is quoted around $0.216. Daily movements are limited, suggesting a consolidation phase. From this level, there is technically room for an upward move back to the November and December 2024 levels.
Support lies around $0.1888, while the first serious resistance is at $0.25. With that, Dogecoin is currently moving exactly between these two zones. Thus, the wait is for confirmation of a breakout. Positive news in the crypto market, especially the possible launch of an ETF can provide the necessary bullish momentum. If the price breaks through $0.25, a new test of $0.28 is obvious. If Dogecoin manages to break out above that as well, then the road towards previous highs could be reopened.
What could push Dogecoin’s price up further?
1. ETF access: approvals under new listing rules may accelerate institutional capital inflows.
2. Institutional investment: increasing accumulation by large holders provides support and market confidence.
3. Community & Musk effect: Elon Musk continues to name DOGE as the "people's crypto," positively influencing public interest and sentiment.
What could work against the price of Dogecoin?
1. Limited functionality: Dogecoin lacks native strike or technology upgrades, making it less attractive versus newer, utility-based memecoins.
2. Competing altcoins: new projects such as Layer Brett offer higher APYs, utility and innovation, attracting investors.
3. Speculative volatility: dependence on sentiment makes DOGE vulnerable in bearish market trends or investor rotation.
Conclusion
Dogecoin proves once again that it is more than just a memecoin. Thanks to a strong community, growing institutional interest and the likelihood of ETF approval, the coin remains relevant within the crypto market. While volatility and stiff competition from newer projects carry risks, recent developments provide a solid foundation for further confidence. If this momentum holds up, Dogecoin could maintain its position as a leading altcoin and potentially benefit again from a broader uptrend in the market.
Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. They are therefore for educational purposes only.
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