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Following Bitwise and Rex Shares’ recent request for US-based Dogecoin ETFs, cryptocurrency analyst Ali Martinez provided a technical outlook suggesting Dogecoin (DOGE) could rise to $15. His analysis, detailed in a logarithmic chart running from 2017 to 2025, captures a massive upward channel that highlights DOGE’s potential upward trajectory.
Dogecoin targets $15
Martinez’s chart identifies a long-term ascending channel where Dogecoin’s price movement is limited by a structure consisting of three parallel trend lines. The lowest of these lines has served as strong support since 2017, helping the price stabilize during significant downturns, particularly in early 2019 and again in mid-2022. The middle line of the channel has been tested, which is currently hovering around 0.40. $ to $0.45, just by DOGE as it recently rose to that level, marking a critical inflection point that was last touched in early 2022.
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The upper boundary of the channel, the focus of Martinez’s bullish forecast, is expected to rise above $10, reaching $15 by late 2025. This upper trend line is not just a theoretical boundary but has proven to be an upside trend two times higher for the price of Dogecoin, once in January 2018 and then in May 2021. At the last all-time high in May 2021, Doge significantly surpassed Channel.
Martinez’s forecast highlights Dogecoin exchange-traded funds as potential market catalysts. He notes that the approval and launch of such financial products could drive new institutional and retail investment into DOGE, pushing it toward these higher valuations.
In terms of trading, the current position of DOGE below the center line is pivotal. This price level has served as a starting point for an upward movement when there is persistent buying pressure. If DOGE maintains its position above this area, the path to higher resistance levels around $1.00, and perhaps the upper level of the channel near $15, looks technically possible.
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Notably, Doge ETFs could hit the market as early as April, according to Eric Balchunas, an ETF specialist at Bloomberg. Bitwise filed an official application to register the Dogecoin ETF on Wednesday.
The company has submitted its proposal, called the “Bitwise Dogecoin ETF,” to the Delaware Division of Corporations, which is part of the US Department of State. Although such recordings can sometimes be misleading, Balchunas certain Via
Registering in Delaware is an initial step before filing for an ETF with the Securities and Exchange Commission (SEC). This registration process establishes the legal structure that will govern the proposed ETF but does not constitute a direct application for SEC approval.
The initiative follows an earlier application from investment firms Rex Shares and Osprey Funds, both of which have also filed for multiple cryptocurrency ETFs, including one focused on Dogecoin.
At press time, DOGE was trading at $0.34.
Featured image created with DALL.E, a chart from TradingView.com
The post Dogecoin ETFs Will Skyrocket Price To $15, Forecasts Analyst first appeared on Investorempires.com.