Dogs Obtain 1 Billion DOGE as a Golden Cross Emerges: Is Confidence Increasing for the Next Cryptocurrency Spike?
Dogecoin (DOGE), the meme-inspired cryptocurrency, is gearing up for a potential bull run in the coming months, driven by a combination of community momentum, technical bullish patterns, and institutional accumulation.
As of August 23, 2025, Dogecoin is trading at around $0.24, according to CoinMarketCap, having seen a 11.2% increase in the past day. This growth is fueled by a number of key factors.
Firstly, the community momentum surrounding Dogecoin is strong. With about 2.5 million Reddit followers and millions of posts on social media platforms like X (formerly Twitter), Dogecoin's active and large community can trigger rapid price spikes via viral campaigns or news, creating a fear of missing out (FOMO) among traders. In early 2025, X payment integrations, for instance, sparked a 10% jump, while past campaigns led to 140% surges.
Secondly, endorsements from celebrities and influencers, such as Elon Musk, have repeatedly driven short-term gains. These endorsements generate significant buying interest but tend to have fleeting momentum. For example, a hint of X payment in July 2025 led to a 17% price increase.
Technical indicators also play a significant role in Dogecoin's potential bull run. Recently, Dogecoin formed a golden cross—a bullish pattern where the 50-day moving average moves above the 200-day moving average—for the first time since November 2024. This pattern historically preceded substantial rallies, with a potential price target near $0.48-$0.50. Additionally, RSI levels near oversold territory around 42-47 suggest buying interest could build.
Institutional whale accumulation is another key factor. Large investors, known as whales, have been accumulating over 1 billion DOGE tokens (~$200 million), controlling nearly half of the circulating supply. This shows sustained institutional buy-in, which can provide stable demand supporting price gains.
The odds of a Dogecoin ETF approval are nearly 75% on Polymarket, and Bloomberg ETF analysts have raised their approval odds for spot DOGE ETFs to 90% by the end of 2025. An approval of a Dogecoin ETF could broaden DOGE's exposure to mainstream investors, potentially setting the stage for DOGE's next "moon mission."
However, it's important to note that volatility remains high, and sustained price growth depends on breaking key resistance levels and maintaining buying interest beyond short-term hype. The current price of DOGE is around $0.24, and traders are closely watching the $0.242-$0.245 resistance for Dogecoin. A decisive breakout above this resistance could fuel a run toward $0.30, with technical charts indicating a potential 18% upside toward the $0.26 zone.
In conclusion, the combination of social/community-driven hype, recent positive technical signals like the golden cross, whale accumulation, and high-profile endorsements are the main factors fueling expectations for a potential Dogecoin bull run in mid-to-late 2025. While the path forward is not without its challenges, the current momentum suggests that Dogecoin could be poised for a significant rally in the coming months.
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- The active and large Dogecoin community, with millions of followers on Reddit and other social media platforms, can generate swift price increases through viral campaigns or news, creating a sense of missing out (FOMO) among traders.
- Technical indicators, such as the golden cross pattern in Dogecoin's moving averages and oversold RSI levels, suggest that buying interest could build, potentially leading to a substantial rally.
- Large investors, known as whales, have accumulated nearly half of the circulating Dogecoin supply, indicating sustained institutional buy-in, which can provide stable demand supporting price gains.
- Endorsements from celebrities and influencers, like Elon Musk, have consistently driven short-term gains for Dogecoin, creating buying interest but often with limited momentum.
- The odds of a Dogecoin ETF approval are high, and the approval of a Dogecoin ETF could broaden DOGE's exposure to mainstream investors, potentially setting the stage for Dogecoin's next significant rally.
