TL;DR
- A popular analyst suggests that if Dogecoin (DOGE) closes April above $0.20, it might ignite strong bullish momentum.
- With Elon Musk dampening hopes for government-driven adoption, attention has shifted to the potential approval of a spot DOGE ETF, which could boost demand for the asset.
Time for Another Bull Run?
The OG meme coin saw its price rise by 12% in the past week, briefly exceeding $0.19. The uptick garnered the attention of numerous market observers, some of whom predicted much more impressive gains for the near future but under certain conditions.
The renowned analyst Ali Martinez believes Dogecoin (DOGE) can explode to its all-time high of $0.74 if it closes the month above $0.20.
“Such a breakout would signal strong bullish momentum and potentially attract increased investor interest,” he added.
Trader Tardigrade and Muro also weighed in. The former claimed that DOGE reclaimed the 100 exponential moving average (EMA) “after breakdown” and envisioned a rise to as high as $0.80 in the following months. For their part, Muro believes that DOGE’s possible rally could ignite an altseason:
“Once DOGE starts pumping, it would be the official signal for a legit altseason, it’s always been the altseason indicator.”
Waiting for This Catalyst
After the disappointment faced after Elon Musk’s rather controversial and somewhat failed attempt to really cut down on excessive government spending, an agency that has DOGE’s name in it, the Dogecoin community has started to look for other catalysts that could act as price boosters. One example is the potential approval of a spot DOGE ETF in the United States.
Grayscale, Bitwise, and Osprey Funds are among the companies racing to launch this kind of product. The chances of a green light before the end of 2025 have been rising lately, currently standing at around 58% (per Polymarket’s data).
This type of investment vehicle will offer people the chance to gain exposure to Dogecoin without having to purchase the cryptocurrency directly. As a result, it could attract additional investors and inject fresh capital into the ecosystem.
