Share this article
Dogecoin Drops 7% After Brief Rally Amid Rising Hopes of a DOGE ETF
Market volatility intensifies as meme token faces critical resistance levels amid institutional interest.
Jun 12, 2025, 6:58 a.m.
What to know:
- Dogecoin's price fluctuated sharply, initially rising to 20 cents before dropping to 19.1 cents within a 6.63% range.
- Speculation about a potential DOGE ETF has increased, with a 51% chance of SEC approval by 2025, which could potentially attract institutional investment.
- Dogecoin's integration with Coinbase's Base network is enhancing its functionality by introducing wrapped DOGE into DeFi ecosystems.
Dogecoin experienced sharp swings over the past 24 hours, initially surging to 20 cents before falling to 19.1 cents, representing a 6.63% range.
The meme coin formed a V-shaped recovery pattern late in the session, climbing back to $0.192 with rising volume, though resistance remains firm around just above 20 cents.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
News Background
- Dogecoin’s latest price action comes amid renewed interest in meme tokens following a series of crypto market shake-ups.
- Speculation around a possible DOGE ETF has gained traction, with Polymarket data indicating a 51% chance of SEC approval in 2025 — a development that could inject institutional capital into the market.
- Meanwhile, Dogecoin’s integration with Coinbase’s Base network is adding functional value, introducing wrapped DOGE into DeFi ecosystems for the first time on a large scale.
- The meme coin’s ability to draw high-volume support near key levels suggests that institutional buyers may be quietly building positions, even as retail traders remain cautious.
Technical Analysis Breakdown
• DOGE surged from $0.196 to $0.204 (4.08%), then reversed sharply to $0.191 (6.63% range).
• Resistance confirmed at $0.203–$0.204 after three rejections on heavy volume (>1B units at 07:00).
• Support formed at $0.192, with brief rebounds from this level despite weakness.
• Final hour drop from $0.192 to $0.190 followed by a quick V-shaped recovery to $0.192.
• Accumulation signs emerged with volume increasing past 2.3M in final minutes.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
