Dogecoin price targets $0.33 on breakout as ETF hopes heat up

Dogecoin price is rallying sharply as a combination of a technical breakout and growing ETF speculation fuels bullish momentum, with price action pointing toward a potential move to $0.33.

Dogecoin (DOGE) price is up 7% in the past 24 hours with trading volume surging over 160%, as bulls attempt a breakout from a long-standing symmetrical triangle pattern, formed by a descending upper trendline and an ascending lower trendline.

Yesterday’s 5% gain signaled a potential resolution of the tightening consolidation into the triangle’s apex, while today’s candle is testing a decisive breakout, currently trading above the upper trendline. A daily close above this level (~$0.23) would confirm the breakout.

The height of the triangle is approximately $0.10, projected from the breakout point (~$0.23), which gives a technical target around $0.33, assuming clean breakout confirmation. However, if Dogecoin price loses $0.22 and closes back inside the triangle, it risks a fakeout scenario, potentially triggering a retrace to $0.20.

What’s driving Dogecoin price?

Apart from the technical breakout, fundamental catalysts are also contributing to Dogecoin’s recent surge — most notably, growing speculation around the imminent approval of a Dogecoin ETF.

Last week, news broke that REX Shares — the firm behind the first Solana staking ETF — in partnership with Osprey Funds, filed for the REX-Osprey™ DOGE ETF, and could potentially launch as early as this week.

Unlike other pending crypto ETFs, REX is leveraging a less commonly used regulatory structure under the Investment Company Act of 1940 (the “40 Act”), allowing it to bypass traditional SEC bottlenecks such as the 19b-4 process.