Dogecoin on June 9, 2025: Will DOGE Break Free from Volatility?

Dogecoin traded at $0.171 on June 9, 2025. Can recent news spark a bullish run?

On June 9, 2025, Dogecoin (DOGE) traded at approximately $0.171, reflecting a 6.89% decline over the past 24 hours. This drop follows a volatile week where Dogecoin saw a 13.45% gain. Analysts suggest Dogecoin is in a corrective phase, but several factors could drive it upward. Technical analysis indicates Dogecoin recently tested key support at $0.176 and is currently trading below the 9-period simple moving average ($0.181). The Relative Strength Index (RSI) stands at around 48, signaling neutral conditions with a bearish tilt. A breakout above $0.20 resistance could push DOGE toward $0.24. Otherwise, it may fall to the $0.16 support level. A significant recent development is Coinbase’s launch of wrapped Dogecoin (cbDOGE) on Ethereum’s Layer-2 Base network. This enables Dogecoin’s use in DeFi protocols, potentially creating new demand. However, cbDOGE’s trading volume remains limited, and its short-term price impact is unclear. Political news has also influenced Dogecoin. Recent tensions among prominent political and economic figures, coupled with regulatory uncertainty, have increased selling pressure. However, U.S.-China trade talks on June 9 could boost global liquidity, supporting risk-on assets like Dogecoin. Institutional activity is noteworthy. Reports indicate large Dogecoin transfers worth over $60 million to Coinbase in the week ending June 9, possibly signaling whale activity. Additionally, speculation about SEC approval for Dogecoin ETFs continues, though a final decision is delayed until June 17, 2025. In the long term, analysts are optimistic, forecasting Dogecoin could reach $1 to $2 by the end of 2025, driven by growing adoption and technical improvements like lower transaction fees. Investors should remain cautious of meme coin volatility and the impact of breaking news. Overall, Dogecoin’s strong community and institutional potential make it an attractive yet high-risk asset, requiring careful analysis and risk management.