- DOGE ETF approval odds plunge to 1%, but trading interest remains notably strong.
- Analysts highlight bullish patterns as DOGE eyes breakout toward $0.60–$0.69 range.
- Despite weekly losses, DOGE retains high volume and market attention near $0.24.
Sentiment around a potential Dogecoin (DOGE) exchange-traded fund (ETF) approval by July 31 has sharply deteriorated, according to Polymarket data. The market currently assigns just a 1% chance of approval, representing a steep 21% decline.
This drastic drop suggests that confidence among traders and analysts has nearly vanished. Despite the downturn in ETF sentiment, DOGE continues to attract bullish technical analysis and speculation about its long-term breakout potential.
ETF Speculation Fizzles, But Trading Interest Remains High
The prediction market chart from Polymarket tracks ETF approval odds dating back to December. For months, traders maintained low expectations.
However, optimism briefly surged in February and April, with probabilities climbing above 30%. That hope has since faded, and by late July, expectations have all but disappeared.
Despite the fading optimism, trading activity in this market remains strong. The total volume traded has reached over $535,000, signaling consistent interest from speculators. Additionally, traders can also place bets on a possible approval by December 31, highlighting continued attention on regulatory movement later in the year.
Analysts Signal Bullish Price Action
Even as ETF hopes dwindle, several respected crypto analysts have identified bullish patterns in Dogecoin’s price chart. According to dogegod, DOGE is aligning for an explosive move toward $0.69.
The asset is forming higher highs and higher lows within a bullish channel. A bounce from the trendline support has confirmed a higher low, suggesting a strong uptrend. The Ichimoku cloud is thinning, indicating weakening resistance. If DOGE breaks above $0.30, momentum could intensify rapidly.
#Dogecoin is setting up for explosive moves.
— dogegod (@_dogegod_) July 27, 2025
$0.69 is confirmed. pic.twitter.com/4T9UfLLLT0
Meanwhile, Ali Martinez emphasizes that DOGE has re-entered a historic buying zone within a long-term ascending channel. In the past, this range preceded parabolic runs, including a 13,000% rally in 2021. With the price now near $0.23, the pattern suggests a new accumulation phase is underway.
Dogecoin $DOGE is back in a range that has historically served as a buying zone, triggering major bull runs! pic.twitter.com/bzHM1K4zBf
— Ali (@ali_charts) July 26, 2025
Captain Faibik also identifies a major breakout from a descending wedge. This pattern signals a strong reversal. DOGE has confirmed the breakout and is retesting previous resistance as support. His analysis points to a potential 162% move toward $0.60, describing the current zone as a high-reward opportunity.
Price Outlook and Market Activity
Dogecoin is trading at $0.2411, with over $3 billion in daily volume. The price is up 1.52% in the past 24 hours but down 11.47% over the past week. With a market cap over $36 billion and active technical signals, DOGE remains one of the most-watched assets despite ETF setbacks.
