Dogecoin price eyes a $1.20 breakout as ETF approval optimism grows, with strong resistance at $0.175 and bullish long-term potential.
Dogecoin’s price is showing strong signs of a potential breakout. With growing optimism around a Spot Dogecoin ETF approval, analysts are predicting that Dogecoin could surge to $1.20. The potential approval of the Bitwise ETF has sparked renewed interest in Dogecoin, especially among institutional investors. If the ETF is approved, Dogecoin could experience a significant price jump as liquidity and market participation increase.
ETF Approval Could Boost Dogecoin’s Market Position
The possibility of a Spot Dogecoin ETF approval has sparked investor interest. Many believe the ETF will bring more institutional investors into the Dogecoin market. Approval of this ETF would provide a regulated way for institutional investors to gain exposure to Dogecoin, which could lead to increased capital inflows.
Reports suggest that the registration for the Bitwise ETF could become effective soon, with some expecting approval within the next 20 days. This would mark an important step in the development of Dogecoin as a more widely accepted asset. With more institutional involvement, the price of Dogecoin could see a significant re-rating, driven by increased liquidity and market depth.
The growing optimism around the ETF approval is boosting sentiment around Dogecoin. As more investors look to capitalize on its potential, price accumulation patterns have started to improve. However, short-term volatility may still occur as the approval process unfolds, but the long-term outlook is increasingly positive.
Technical Analysis Points to Breakout Potential
Technically, Dogecoin is showing a promising breakout pattern. Analyst Tardigrade highlighted a triangle formation on Dogecoin’s six-month chart, which signals consolidation followed by an expansion phase. The upper trendline of the triangle is currently acting as resistance, and a breakout above this level could send Dogecoin toward the $1.20 target.
$Doge/6-month#Dogecoin has been forming a Giant Triangle for 5 years, targeting at $1.2 🔥 https://t.co/Y3W6cG9wnd pic.twitter.com/5Zvv3ZoYdP
— Trader Tardigrade (@TATrader_Alan) November 14, 2025
Historically, bullish symmetrical triangles often lead to a continuation pattern after a period of consolidation. In Dogecoin’s case, the price has been moving sideways for almost three years, and this triangle could indicate the start of a new upward trend. If Dogecoin breaks above the $0.35 resistance, it would signal early signs of strength, setting the stage for a breakout to $1.20.
The lower trendline at $0.05 remains an important support level, providing a solid foundation for future price action. A break above $0.40 would further confirm the bullish outlook. If these conditions hold, Dogecoin could see its price reach higher levels in the medium term.
Short-Term Resistance Could Limit Immediate Gains
Despite the promising technical setup, Dogecoin faces short-term resistance. Currently, there is a strong sell wall around the $0.175 mark, which has been limiting price gains. As of now, Dogecoin’s price is hovering around $0.166, and the resistance at $0.175 is preventing further upward movement.
A clear breakout above this resistance level could lead to a push toward $0.25. However, if the price continues to face rejection at this level, short-term gains may be limited. Investors should monitor whether Dogecoin can break through this resistance before expecting more significant price increases.
While short-term resistance may slow the pace of growth, the longer-term trend remains positive. The growing optimism surrounding the ETF approval could provide the necessary momentum for Dogecoin to move higher. If Dogecoin can hold above key support levels, the bullish trend may continue into the coming months.
