Dogecoin price is approaching a technical breakout, as crypto traders are once again tuning in to what some are calling ‘the most powerful meme coin setup since 2021.’ A recent chart shared by an analyst shows an extended ‘cup and handle’ formation.
With the current price hovering around $0.18, traders are eyeing an initial push toward $0.75. However, the longer-term target ranges from $1.5 to $2.7. There is also an ambitious $5 peak as the ultimate top if momentum sustains.
The chart shows DOGE forming a broad, multi-month accumulation base followed by a steep rise and short correction. This pattern, combined with Dogecoin’s proven viral potential, is fueling bullish sentiment. Analysts backing the move point to a combination of crypto market recovery and increasing institutional attention.
Dogecoin has historically been one of the most unpredictable and sentiment-driven assets in crypto. Yet this time, the story is not just about memes and momentum. A real financial infrastructure is beginning to emerge around DOGE, and Wall Street is taking notice.
Nasdaq Pushes for a Dogecoin ETF
Nasdaq has filed a request with the US SEC for approval to list the 21Shares Dogecoin ETF. The ETF, if approved, would provide traditional investors with regulated exposure to DOGE, without the need to hold the asset directly.
This comes just weeks after 21Shares first proposed the ETF on April 10, joining other asset managers, such as Bitwise and Grayscale, in the race.
According to regulatory filings, the ETF would hold Dogecoin directly, allowing its shares to be traded on Nasdaq, just like traditional stocks or other ETFs. Approval from the SEC is still pending, and the application will undergo a regulatory review process.
Result of Trump’s Friendly Stance
The Dogecoin ETF filing is part of a wave of altcoin ETF proposals submitted after President Donald Trump directed the SEC to adopt a friendlier regulatory stance. This has led to an explosion of filings, with more than 70 cryptocurrency ETFs now awaiting review as of April 21.
These include spot ETFs tied to altcoins like Solana, XRP, and Polkadot, as well as memecoins such as Bonk and TRUMP. As altcoins enter mainstream finance, Nasdaq has taken an active stance, urging the SEC to treat crypto assets that function like securities under the same regulatory framework.
‘The goal,’ Nasdaq wrote in an April 25 comment letter, ‘is to hold digital assets to the same regulatory standards as securities if they constitute “stocks by any other name.”’ This call for parity suggests that exchanges see long-term potential in tokenized assets.
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