Dogecoin price odds of hitting $1 fall, DOGE ETF chances rise

Dogecoin's Price Struggles amid Bearish Market

Dogecoin (DOGE) has been trading at $0.255 on Thursday, facing a recovery slowdown after last week's market crash.

Analysts anticipate that the Securities and Exchange Commission may approve a spot DOGE ETF later this year, boosting optimism. Polymarket indicates a 62% probability of such an approval, up from 27% in January.

Companies like Rex Osprey and Bitwise have filed for Dogecoin ETFs, potentially attracting further filings.

Conversely, the prediction of a Strategic Dogecoin Reserve by the Donald Trump administration remains unlikely, with odds remaining at 10%.

Additionally, expectations for Dogecoin reaching $1 have dwindled. Kalshi data shows a drop to 5% in the likelihood of hitting $1 by June 1 and 19% by January 2026.

Technical analysis reveals bearish pressure on the DOGE price, with a potential death cross pattern (indicating further decline) forming.

A break and retest pattern and a bearish flag chart formation suggest a possible breakdown to $0.20 or even $0.15.

Despite potential ETF approval and investment inflows, Dogecoin's bearish outlook persists.