Dogecoin (DOGE) is expected to experience a significant price surge as the likelihood of an ETF approval has increased by 25%, according to recent analyses. Technical analysts highlight that Dogecoin is currently forming a bullish 'diamond bottom pattern,' suggesting a potential 105% price increase with a target price of $0.35.
The news comes as futures market sentiment indicates strong support and long-term holdings in DOGE have reportedly grown by 526%, reflecting rising confidence and longer-term commitments from investors. Market analysts note that previous instances of similar technical formations have historically led to notable price appreciations in the cryptocurrency market.
Increased optimism and anticipation in the Dogecoin community are driven by growing odds of an ETF, which could result in elevated market interest and greater capital inflows if realized. Investors and enthusiasts are closely monitoring developments, as a successful ETF approval is expected to provide a significant boost to Dogecoin’s price and adoption prospects.