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While the broader cryptocurrency market remains in consolidation, Dogecoin (DOGE) has bucked the trend, surging 5% in the last 24 hours to reach $0.1852. This rally comes as daily trading volumes skyrocketed by 111% to $1.58 billion, signaling strong bullish sentiment among investors. The price surge coincides with the Dogecoin Foundation’s latest initiative aimed at strengthening the meme coin’s long-term stability and institutional appeal.
Dogecoin Foundation Launches Reserve to Strengthen Stability
The Dogecoin Foundation has announced the launch of the “Official Dogecoin Reserve,” a strategic move to enhance DOGE’s market credibility and attract institutional investors. As part of this initiative, the foundation will purchase 10 million DOGE, valued at approximately $1.8 million, to build a reserve that ensures long-term price stability.
Institutional interest in meme coins has been on the rise, with Dogecoin leading the charge. Adding to the optimism, speculation over a potential Dogecoin ETF approval in 2025 has gained momentum. According to crypto prediction platform Polymarket, the probability of a Dogecoin ETF launching by the end of the year has surged to 72%, up from just 27% at the start of January.
Can Dogecoin Rally 100%? Analysts Eye Bullish Breakout
Technical analysts believe Dogecoin is on the brink of a major breakout. ZAYK Charts has identified a falling wedge pattern on DOGE’s daily chart, a bullish reversal indicator suggesting a potential surge if DOGE breaks above its upper resistance line. If this scenario plays out, Dogecoin could see a 100% rally, with analysts predicting a possible run toward $1.
$DOGE Falling Wedge Formation in 1D Timeframe✅
— ZAYK Charts (@ZAYKCharts) March 24, 2025
Incase of Breakout,Expecting Massive Bullish Wave🚀#Dogecoin pic.twitter.com/32wunTFdFF
On-chain metrics further reinforce this bullish outlook. As of March 25, Dogecoin’s open interest (OI) in the futures market has climbed to $1.80 billion, recovering from a four-month low of $1.33 billion recorded on March 11. Additionally, DOGE’s weekly funding rates have turned positive at 0.157%, rebounding from negative territory on March 21.
Also Read: Dogecoin Price at Make-or-Break Level: Will DOGE Surge or Drop?
With growing institutional interest, strong technical indicators, and a potential ETF approval on the horizon, Dogecoin’s momentum could be just getting started.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
