Following Bitwise and Rex Shares’ recent filing for spot Dogecoin ETFs in the United States, crypto analyst Ali Martinez has provided a technical outlook that suggests Dogecoin (DOGE) could rise to $15. His analysis, detailed in a logarithmic chart spanning 2017 to 2025, captures a broad ascending channel that highlights a potential upward trajectory for DOGE.
Dogecoin targets $15
Martinez’s chart shows a long-term ascending channel where Dogecoin’s price action is surrounded by a structure with three parallel trend lines. The lowest of these lines has consistently acted as a strong support since 2017, helping to stabilize the price during significant declines, particularly in early 2019 and again in mid-2022. The midline of the channel, which currently hovers around $0.40 to $0.45, has just been tested by DOGE as it has recently risen to this level, indicating a critical inflection point last seen in early 2022. was touched
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The upper limit of the channel, which is the focus of Martinez’s bullish forecast, is projected to climb above $10 by late 2025, before touching as high as $15 by late 2025. This upper prevalence limit is not just a theoretical limit, but a proven one. The peak of the bull run Two times for the price of Dogecoin, once in January 2018 and again in May 2021. At the last all-time high in May 2021, the Doge also significantly crossed the channel.
Martinez’s prediction highlights the Spot Dogecoin ETF as a potential market catalyst. He suggests that the approval and launch of such financial products could channel new institutional and retail investment into the DOGE, pushing it towards these higher valuations.
In commercial terms, DOGE’s current position below the midline is significant. This price level has historically served as a springboard for upward movement when sustained buying pressure is present. Should DOGE maintain its footing above this zone, the path of high resistance Levels around $1.00And potentially the top of the channel near $15 seems technically possible.
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Specifically, spot dodge ETFs could hit the market as early as April, according to Bloomberg ETF expert Eric Balchunas. Bitwise officially filed an application to register a Dogecoin ETF on Wednesday.
The company submitted its proposal, called the “Bitwise Dogecoin ETF,” to the Delaware Division of Corporations, which is part of the US Department of State. Although such registries can sometimes be misleading, balchoons Confirmed By X: “Bitwise dodge etf is likely to come soon.. and yes I checked and it is legit (vs some weird job faking it for a quick pump Blackrock XRP that one time).”
Registering in Delaware represents an initial step before proceeding with a formal ETF submission to the Securities and Exchange Commission (SEC). This registration process establishes the legal framework that will govern the proposed ETF but does not constitute a direct application for SEC approval.
The initiative follows an earlier application by investment firms Rex Shares and Osprey Funds, both of which have also filed applications for several cryptocurrency ETFs, including one focused on Dogecoin.
At press time, DOGE traded at $0.34.
Featured image created with DALL.E, chart from TradingView.com
