Dogecoin Eyes $0.37 as Bull Flag Forms, ETF News Fuels Price Surge

Dogecoin (DOGE) displays a bullish flag pattern, maintaining a price above $0.22 with potential for a breakout to $0.37.

Recent price increases, exceeding 40% in May, are fueled by a 21Shares ETF filing and significant whale activity.

DOGE has reclaimed key support levels, breaking a long-term downtrend and establishing higher highs and higher lows.

Dogecoin (DOGE) is currently trading within a bullish continuation pattern, a bull flag, consolidating recent gains. The memecoin recently surpassed the $0.22 support level and is now consolidating, with a potential near-term breakout target of $0.37.

DOGE Retests Key Support as Bull Flag Formation Develops

Rekt Capital's analysis shows Dogecoin closed a weekly candle above pre-halving resistance, now acting as support near $0.22. The current retest of this level could confirm the bullish pattern if support holds.

Source: Rekt Capital (X)

Rekt Capital's chart illustrates a breakout from pre-halving resistance followed by a successful retest. The green zone on the chart is forming a new support base, suggesting continued upward movement if the structure remains intact. DOGE has recently traded between $0.22 and $0.24.

Ali Martinez also highlights DOGE's movement back into a historically significant resistance zone between $0.24 and $0.27. This range previously acted as support before becoming resistance after a correction earlier in 2025. A decisive break above this range would challenge sellers and pave the way for further price increases.

ETF News and Whale Activity Boost DOGE Momentum

Javon Marks observes that DOGE has broken a long-term downtrend initiated after its 2021 peak at $0.70. The coin has since demonstrated higher lows and higher highs, confirming an uptrend. Support at $0.16 further strengthens this pattern.

Source: Javon Marks (X)

The US SEC's acknowledgment of 21Shares' spot Dogecoin ETF filing contributed to a 6.29% increase in DOGE's price within 24 hours, pushing it near $0.24. Whale accumulation also played a significant role in May's over 40% price growth.