The payment and application implementation of Dogecoin

The practical application of DOGE is quietly expanding. On May 16, 2025, Heritage Distilling Holding Company, a publicly listed company in the US and a craft spirits brand, announced that its board approved a new financial reserve policy for cryptocurrency assets, officially accepting DOGE as a payment method for products and services.

This craft liquor brand based in the United States has also included DOGE in its corporate asset allocation as a strategic cryptocurrency reserve. This is not only a significant breakthrough for the actual payment application of DOGE but also symbolizes its movement towards becoming a functional asset. The significance of DOGE’s price lies not in the acceptance by a single company, but in representing a narrative shift; DOGE is no longer just a fun meme coin but can be part of a company’s payments, reserves, and strategy, which is underpinned by the accumulation of trust.

(Source: HeritageDistill)

Dogecoin: From Meme to Institutional?

On May 20, 2025, the U.S. Securities and Exchange Commission (SEC) officially announced a delay in the decision deadline for the ETF proposal of the Dogecoin trust fund submitted by Grayscale. Although this does not equate to a rejection, it also means that the dream of a DOGE ETF will have to wait a little longer.

The SEC emphasized that the legal and policy issues involved in these proposals still need further evaluation and have not yet reached a conclusion. According to Bloomberg Intelligence’s ETF analyst James Seyffart, even if the process goes smoothly, there may be further progress as early as the end of June or early July, but the actual approval time is more likely to fall in early Q4 of 2025. Although the timeline is unclear, the DOGE ETF plan itself is already enough to inspire market confidence, marking a victory in the narrative reconstruction from being seen as a meme coin on the fringes of the market to becoming a key player included in the ETF lists of traditional financial institutions.

A Review of Dogecoin’s Technical Trends

In the first half of 2025, the overall price trend of DOGE shifted from a decline at the beginning of the year, and after a period of consolidation, turned around the downward trend and welcomed a rebound in April to May. Although there was a lack of large-scale outbreaks, on-chain data shows a gradual increase in the holdings of large holders, while the DOGE holdings in the exchange hot wallets decreased, suggesting that long-term holders are increasing.

From a technical perspective, if DOGE can break through the range of 0.25 - 0.29 USD, it will have the opportunity to challenge the psychological resistance zone of 0.3 - 0.4 USD; however, if it tests the support below, 0.18 USD is the key point for the bulls.

The market’s expectations for the approval of ETFs may gradually be priced in over the next 1 to 2 quarters, especially if the SEC begins to express a positive stance on the DOGE ETF, which will become the main reason for the next wave of momentum.

Price prediction for DOGE

Through AI model data calculations, referencing past DOGE prices and related information, predictions for future prices are made, intended solely for data sharing and not as investment advice. Refer to the chart below:

DOGE price prediction trend

DOGE Price Prediction and Confidence Interval

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Summary

The price of Dogecoin will still be subject to the overall environment of the cryptocurrency market in the future, but unlike before, when its growth was purely driven by the community, starting in 2025, we see more signals from traditional finance and corporate adoption adding a layer of “normalization” to DOGE. In the future, DOGE will not necessarily surge just because of a single statement from Musk, but will rely on an increasingly solid application and narrative to become a true asset that can circulate in Web3.