So far, the Dogecoin price has managed to escape testing this zone as the bulls continue to hold support. Initial support featured heavily above the $0.22 level. However, as bears have put pressure on this level with notable sell-offs, support above $0.2 remains the major zone.
Another catalyst is the expectation of a Dogecoin ETF. So far, multiple firms have filed for a Dogecoin ETF, but none have been approved as the SEC continues to postpone its decision. But if an approval does come through, then the significant institutional inflow could drive the price higher.
From here, the Dogecoin price simply has to hold above $0.15-$0.16, even in the case of a crash. If bulls can maintain this level, then the analyst expects price to reclaim $0.25, with the possibility of further upside to $0.34-$0.40, before expanding toward $0.55.
