The cryptocurrency market took a major step back on Friday as a sell-off dominated headlines. Specifically, the industry saw as much as $210 million in iquidtation from the sector in just 60 minutes. Yet, that may not be enough to hinder Dogecoin, as DOGE may be poised to target $0.25 as it enters the top 5 most profitable cryptocurrencies.

The leading memecoin entered the year as one of the most interesting assets to watch. Although it doesn’t boast the utility of a Solana or Cardano, its popularity is undeniable. Therefore, it could have a path upward forming in the next week, with June seeing the asset jump to one key level.

Also Read: Dogecoin Falls 16.8% in One Week: Should You Buy The Dip?

Dogecoin Eyes $0.25 as It Enters Rarified Air for Cryptocurrencies

Amid a strong market downturn, news surfaced Friday that 21Shares filed an amended Dogecoin ETF bid. Indeed, the asset class has been a focus for the investment vehicle considering its strong community and popularity as a digital asset. That has only reinforced a bullish perspective for the asset as May comes to a close

The entire market was red to close the week, as all eyes were on how it could turn around with June’s arrival. That may be set to take place for Dogecoin, as DOGE may be poised to target the $0.25 level as it enters the top 5 most profitable cryptocurrencies.

Also Read: Dogecoin (DOGE) & Cardano (ADA) Prediction For June 2025

According to a recent report, 77.9% of the entire Dogecoin supply is in profit. That ranks DOGE fourth among all premier crypto tokens. Bitcoin led the pack with 98.4% of its supply, while Ripple (XRP) and Chainlink (LINK) were at 90% and 80.5%, respectively.

Additionally, Dogecoin is beginning to form a new head and shoulders pattern on its daily chart Friday. The development signals that Dogecoin could very well be on its way to a $0.23 price, with $0.25 being the next key level to watch for. Sitting at a price below $0.20, it had dropped more than 14% over the last 7 days. However, the memecoin is still up more than 16% in the last 30 days, according to CoinMarketCap.