Dogecoin, the popular meme coin, is showing steady growth, and there is increasing interest from institutional investors. This article discusses the main factors influencing its price and future forecasts.
Current Trends in the Dogecoin Market
On July 18, Dogecoin surged 14% to a price level of $0.248. Analysts note that the coin has broken out of a symmetrical triangle it has held since late 2023, which may herald a historic rally. Over the past week, the price has risen by 23%, confirming the upward movement.
Institutional Interest in Dogecoin
Interest from institutional investors is also on the rise. Recently, Bit Origin, a Nasdaq-listed company, raised $500 million to establish a DOGE-focused treasury fund. This capital will be used to accumulate coins and expand the Dogecoin ecosystem.
Forecasts and Expectations
There is a growing bet that a Dogecoin ETF could be approved soon, with forecasting site Polymarket showing an 80% probability. The next significant decision from the SEC is expected in September. A weekly close above $0.21 would further confirm the breakout, and if momentum continues, the long-awaited $1 milestone may finally be within reach.
In conclusion, Dogecoin is exhibiting positive technical signals and gaining interest from large investors, creating conditions for further growth. Market attention is focused on the potential achievement of the key price mark of $1.
