Dogecoin is currently moving through a tight trading range as speculation over a potential ETF linked to the token grows.
Symmetrical Triangle for Dogecoin
Market analyst Ali Martinez noted that Dogecoin is consolidating within a symmetrical triangle. Currently, DOGE is trading around $0.22386, exhibiting tightening price action as the asset tests both rising support and descending resistance. Martinez suggested that once resolved, this formation could lead to a 30% move.
Grayscale's ETF Preparation
On August 15, an S-1 filing for a new Dogecoin ETF was submitted, aiming to provide direct exposure to the token. Grayscale Investments Sponsors, LLC and Grayscale Operating, LLC will co-sponsor the product, with CSC Delaware Trust Company acting as trustee and BNY Mellon named as transfer agent and administrator. Grayscale faces competition from other issuers, including Rex-Osprey and Bitwise, which have also filed proposals seeking approval for Dogecoin ETFs.
Optimism Over ETF Approval in 2025
Meanwhile, Polymarket data reflects a sharp rise in sentiment regarding possible approval. As of August 2025, the probability of a Dogecoin ETF being authorized stands at 75%, marking a 38% increase in outlook since the beginning of the year. While optimism is notable, the decision ultimately depends on the SEC, which has taken a cautious approach toward altcoin ETFs.
As optimism and interest in Dogecoin grow, the market awaits outcomes that could significantly impact the token's price.
