The recent market performance of Dogecoin (DOGE) has attracted attention. As of August 19, 2025, the price of DOGE closed at $0.232, with a slight fall of 1.3% in the past 24 hours and a weekly decline of 10%. Despite being affected by market corrections and profit-taking pressures in the short term, the market still shows bullish sentiment.

In the past 24 hours, the trading volume of DOGE reached 2.99 billion USD, and the open interest of derivatives increased to 3.73 billion USD. Notably, the short liquidation amount ($2.8 million) far exceeded that of the longs ($710,000), reflecting investors' optimistic attitude towards the future trend of DOGE.
Institutional investors' interest in DOGE is heating up. Several well-known institutions have successively submitted applications for a DOGE spot ETF, and the review by the U.S. Securities and Exchange Commission (SEC) has entered a critical stage. Market analysts estimate that the likelihood of DOGE ETF approval by the end of the year is as high as 90%. If approved, it is expected to attract about $5 billion in institutional funds.
On the technical level, DOGE has recently completed an important upgrade. The transaction confirmation time has been shortened to 8 seconds, and the cross-border transfer fees have been significantly reduced, which greatly enhances the practicality of DOGE. At the same time, the DOGE payment ecosystem is continuously expanding, with globally recognized enterprises starting to accept DOGE payments, laying a foundation for the long-term development of DOGE.
On-chain data shows that large holding addresses (holding 1 million to 100 million DOGE) have accumulated 200 billion DOGE over the past week, approximately 4.6 billion USD, accounting for 18% of the total circulating supply. This trend indicates that institutional investors are optimistic about the long-term prospects of DOGE.
From a technical analysis perspective, DOGE is currently facing a key resistance level at $0.245. If it successfully breaks through, the next target price will be $0.266, and it may even challenge $0.30. The support level is at $0.215, and if it falls below this level, it may further drop to $0.20.
Overall, the market prospects for DOGE are supported by multiple factors, including ETF expectations, increased holdings by large investors, and the expansion of payment application scenarios. However, investors should also be wary of potential risks, including possible delays in SEC approvals and chain reactions from Bitcoin price fluctuations. As the ecosystem continues to develop and the market environment changes, the long-term performance of DOGE deserves ongoing attention.