DOGE price prediction: Grayscale ETF update ignites long positions sentiment, analysts see it rising to 1.4 USD

DOGE (Dogecoin) reported at $0.2239 during the Asian session on August 18, continuing to oscillate within a noticeable consolidation range. However, with Grayscale Investments updating its ETF application documents, the market's institutional outlook for DOGE has once again heated up, with Technical Analysis and regulatory catalysts jointly supporting bullish expectations.

Technical Analysis: Expanding Wedge Pattern Suggests Long-term Breakout

Famous trader Tardigrade pointed out on platform X that the DOGE weekly chart is forming a continuously expanding wedge structure, consisting of consecutive higher highs and higher lows.

In the past, this pattern has brought about a +120% (0.22 → 0.48 USD) and a +190% (0.48 → 0.77 USD) pump.

If the historical trend continues, the final target price may reach 1.4 USD.

The daily chart shows that since February, DOGE has been accumulating in the range of 0.21–0.30 USD, with gradually higher lows, indicating an increase in buying power.

Breakthrough point: If it decisively breaks through 0.25 USD, it is expected to challenge 0.30 USD in the short term.

Further target: If the bulls continue, a retest of $0.50 may occur.

RSI: Currently at 52, neutral to bullish, indicating there is still room for accumulation.

Grayscale ETF Update: The Catalyst for Institutional Funds

Grayscale has submitted an updated S-1 application to the US SEC, planning to list the DOGE Trust ETF ($GDOG) on NYSE Arca, with Coinbase Custody serving as the custodian.

The trust will directly hold DOGE, providing investors with an investment tool linked to the spot market value. This action continues the 19b-4 application submitted in February 2025 and paves the way for a key regulatory decision in October 2025.

If approved, it will significantly enhance DOGE liquidity and attract institutional participation.

Potential Risks: Qubic Community Votes DOGE as an Attack Target

On the other hand, DOGE has recently faced potential security threats.

The Qubic community (which previously launched a 51% attack on Monero) has listed DOGE as the next potential attack target in a vote. DOGE received over 300 votes in the poll, surpassing the total of other candidate blockchains (such as Kaspa and Zcash).

If the attack is successful, it could impact the stability of the DOGE network and market confidence.

Summary and Outlook

Overall, the current technical formation of DOGE and the progress of the Grayscale ETF provide strong support for the bulls, with a long-term target price expected to challenge $1.4.

However, the Qubic attack threat reminds investors to pay attention to cybersecurity risks. In the short term, $0.25 is a key breakout level; if it successfully holds, DOGE is expected to accelerate upward.