DOGE, the most well-known meme coin, has been in the spotlight for over a decade with its unpredictable price swings

input: DOGE, the most well-known meme coin, has been in the spotlight for over a decade with its unpredictable price swings — and April 2025 was no different

Dogecoin (CRYPTO: DOGE) was largely known for its unpredictable price swings, and April saw the token gain 2.5% compared to March, currently trading at $0.17 with a slight decline.

So, what could May bring for Dogecoin? Will the trend shift again, or is a slowdown likely to continue?

What Happened: Created in 2013 and inspired by the Shiba Inu meme, Dogecoin quickly gained traction in the cryptocurrency space. It has since amassed a dedicated global community and attracted attention from major public figures like Elon Musk.

Dogecoin runs on a Litecoin-based codebase and uses the Scrypt algorithm, enabling faster and cheaper transactions than Bitcoin (CRYPTO: BTC). However, one key characteristic is its unlimited supply, making it an inflationary digital asset rather than a deflationary one.

As of April 30, Nasdaq is applying to the U.S. Securities and Exchange Commission for the first-ever 21Shares (CRYPTO: EWI) Spot Dogecoin ETF.

If approved, it would allow investors to invest in Dogecoin without the need for crypto wallets. Such approval could significantly influence Dogecoin’s price by introducing new demand.

According to Chainalysis data, institutional investors were largely absent from the crypto market in 2022, despite an influx of retail investors during the pandemic.

Added credibility and accessibility from a regulated ETF could drive up investor confidence, increase liquidity, and potentially lead to upward price momentum — particularly if launched during a favorable market cycle or crypto bull run.

Dogecoin Price Prediction: According to CoinCodex’s Dogecoin coin price prediction, the token could see a small drop next month. The technical analysis of 14 signals suggests that DOGE could lose 2.45% and remain at approximately the same price level of $0.17 by May 29.

The DOGE price prediction for April 30 leans bearish, as 18 indicators signal a decline, while 11 suggest a possible rebound.

However, if there is a strong rally in the broader market and specifically in the meme coin sector, we could see a decent recovery in the token price.

Dogecoin Price Targets:

CoinCodex: Averages a decrease of 2.45%, reaching $0.1654 by May 29.

DigitalCoinPrice: Predicts an increase of nearly 78%, potentially reaching a maximum price of $0.36 by the end of May.

Wallet Investor: Forecasts a maximum price of $0.255 by the end of May, starting with a price of $0.17.

Is Dogecoin a Good Investment?Only if you’re okay with some volatility. There’s a lot of excitement around its community and the possible ETF, but expectations for May 2025 are mixed, so it’s best to approach with caution.

What's Next: May could see some shifts in trend as broader market events and time will determine the direction of Dogecoin’s price. A slight slowdown is likely, considering the token gained 2.5% compared to March.

If the ETF is approved during a period of market optimism, it could lead to significant buying pressure and a potential rally in Dogecoin’s price. However, if the market faces a correction or if there are delays in ETF approval, it could exert downward pressure, resulting in short-term price declines.

One analyst noted that a 10% move in either direction for Dogecoin is "nothing to bat an eye at."

"It's a highly volatile asset, and its price is largely driven by market sentiment," the analyst said. "But if we see sustained institutional inflows into a Dogecoin ETF, it could have a significant impact on the token's price in the long run."

Those interested in learning more about Dogecoin can visit the official website or join the vibrant community on social media platforms.

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