Will DOGE Price Hit $0.22 in the Short Term?

The post Will DOGE Price Hit $0.22 in the Short Term? appeared first on Coinpedia Fintech News

The recent DOGE price chart shows a slow but steady recovery, mirroring the upward trend seen in other top altcoins in early July. Over the past 7-days, DOGE crypto has gained roughly 8%, but an impressive 18% rise over the last 15 days. Currently, it is approaching the upper border of a declining pattern, and a clean break could trigger a significant breakout, says analyst.

This resurgence comes as Dogecoin remains in the spotlight with its name often linked from high-profile figures like Elon Musk. Another reason to remain in the spotlight is the Department of Government Efficiencies (D.O.G.E) has drawn attention for its efforts to cut unnecessary expenses in the U.S. government aiming to cut needless government expenditure.

These developments have kept DOGE always in the limelight, also with speculation that a Dogecoin ETF could be approved this year is also very robust. Notably, firms such as Grayscale, Bitwise, and 21Shares have filed for a Dogecoin ETF in this year’s first half, and their “19b-4” applications have also been acknowledged by the SEC. 

The final decision is expected by the SEC’s deadline of October 17, 2025, which means the second half of the year could provide clarity, if no further delays occur. According to Bloomberg analysts, the odds of the SEC viewing DOGE as a commodity and granting approval have also surged to 90% in July.

Analyst & On-Chain Suggest DOGE Price Rise Is Imminent

On the daily chart, DOGE price has demonstrated remarkable resilience, consistently holding above the multi-month support zone of $0.13 to $0.15. The price has bounced off this support three times, and the upper border of the falling wedge is once again narrowing. With the trading gap significantly reduced, a breakout could soon propel DOGE towards the $0.22 mark in the short term.

Meanwhile, analyst Trader Tardigrade has pointed out on the weekly chart that DOGE is trading within an Ascending Broadening Wedge Pattern, encountering resistance from parallel descending trendlines. 

If this pattern persists, a breakout above the resistance trendline appears imminent. Tardigrade projects that if this occurs, the rise in the second half of 2025 could be substantial, potentially leading to a new all-time high around $0.80.

Supporting this bullish outlook, on-chain data reveals a shift in market dynamics. Over the past 15 days, the number of addresses holding between 1 million and 100 million DOGE has significantly increased, while retail addresses holding between 10 DOGE and 1 million DOGE have declined. 

This trend suggests that retail investors are offloading their supply, while larger holders, or whales, are accumulating, signaling a potential rise on the horizon.