As of August 9, 2025, Dogecoin is priced at $0.24, reflecting a 7.75% increase over the past 24 hours. This rise is attracting traders considering a potential surge towards $2.
Current Price and Growth
Currently, Dogecoin is trading at $0.24, which is a 7.75% increase in the last 24 hours. This event occurred after breaking through multi-week resistance at $0.23, signaling traders of potential further increases.
Market Trend Analysis
Analyst Crypto Patel highlights an accumulation zone between $0.18 and $0.23, where large investors are quietly building positions. He views this range as a strong buffer, with $1.50 serving as a key support level further below. Patel states that the likelihood of Dogecoin slipping under $0.15 is low, instilling confidence in larger investors.
Future Forecasts and Support
The surge in optimism is not just technical. There is growing speculation that the U.S. Securities and Exchange Commission may approve a Dogecoin ETF. Polymarket data indicates that approval odds jumped from 51% to 71% in just 24 hours. This shift follows broader policy changes, including President Trump’s decision to allow cryptocurrencies in 401(k) retirement plans.
With a bullish technical structure and support from large investors, the path to the $2 mark for Dogecoin may be more realistic than it seemed just weeks ago.
