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- SEC acknowledged Grayscale’s Dogecoin ETF filing, signaling a potential regulatory shift.
- Polymarket traders assign a 22% chance of DOGE hitting a new all-time high by June 2025.
- DOGE has gained 15.88% in the past week, with key resistance at $0.32 and $0.35.
The shifting of regulatory focus is influencing Dogecoin (DOGE) price movements. Following this, traders monitor its ability to cross specific crucial resistances.
The SEC’s recent acknowledgment of the Grayscale application for their Dogecoin ETF has led to several price predictions. Due to market volatility, numerous experts believe the DOGE price could hit an all-time high by the middle of 2025.
SEC’s Acknowledgment Could Spark Optimism for Dogecoin Price
Notably, the SEC’s acknowledgment of Grayscale’s application for a Dogecoin ETF is a positive signal in the crypto markets. Historically, the SEC maintained a limited acceptance policy for altcoin-based ETFs.
However, it has declined most such appeals, and withdrawals happen due to regulatory issues. This latest development goes a long way toward demonstrating that the agency has modified its regulatory stance.
Consequently, it presents the possibility of altcoins gaining wider adoption in financial systems. More acceptance from the SEC provides better prospects for alternative digital currencies in terms of regulatory compliance.
After this recent shift, market analysts argue that the Dogecoin price could reach beyond its previous high. The token reached its previous all-time high on May 8, 2021, when it briefly attained a price of $0.74.
This surge was largely driven by social media hype and endorsements from celebrities like Elon Musk.
Traders Speculate on DOGE Price Reaching New All-Time High
More so, SEC acknowledgment led Polymarket traders to predict a 22% likelihood that Dogecoin would hit its ATH before June 2025. Market participants see the rising confidence that Exchange-Traded Fund approval would trigger substantial price increases.
This level of speculation is not unprecedented in the crypto market. Before Bitcoin spot ETF approval, traders predicted significant price changes in the market.
The approval triggered Bitcoin to increase from $30,000 to $50,000, which confirmed traders’ speculative beliefs. ETF-related speculative activity demonstrates the potential to drive the DOGE price upward during the upcoming months significantly.
Dogecoin Price Recent Movement and Key Resistance Levels
Meanwhile, Dogecoin price has demonstrated substantial price appreciation throughout the past week, with its value rising by 15.88%. The factors behind this increase in value include both market patterns and the SEC’s approval process.
DOGE price rose from $0.24 and then reached its peak at $0.2832, which demonstrates increasing bullish trends. The cryptocurrency must break through important resistance barriers at $0.32 and $0.35 before it can continue its price growth.
Therefore, Dogecoin price may advance further if investors keep their support at $0.32, thus potentially reaching its previous all-time high. Price consolidation or a downward movement would arise if market actors cannot break through these resistance points.
The token was trading at $0.2773 at press time, showing a 3.15% increase in the last 24 hours. Moving ahead, the price has tested immediate resistance near $0.28, with immediate support at $0.27.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
