June 11, 2025, Dogecoin (DOGE) experienced a significant surge, jumping 6.32% to $0.20 before correcting to $0.19552. This rally was fueled by Elon Musk's public reconciliation with Donald Trump and increased speculation about ETF approval.
Trading volume neared $1.65 billion, an 827% increase from the previous day, indicating strong market interest. The primary catalyst was Musk's apology to Trump, reducing tensions and indirectly boosting confidence in DOGE.
Bloomberg analysts, led by Eric Balchunas, upgraded Dogecoin's spot ETF approval odds to 80%. This institutional interest is a significant shift for the meme coin. Technical analysis shows DOGE attempting to break above its 50-day EMA at $0.1933.
The Crypto Fear & Greed Index has climbed to 72, firmly in "greed" territory. Ethereum (ETH) also saw gains, jumping 2.3% to approximately $2,880 before correcting to $2,819 over the past 24 hours. This was driven by regulatory optimism and $125 million pouring into Ethereum ETFs yesterday.
The bipartisan CLARITY Act nearing a vote could cement Ethereum's status as a CFTC-regulated commodity. Technical indicators present a mixed but ultimately bullish picture, with ETH breaking above its 10-day and 50-day EMA. The ADX at 24 also shows there is a strong bullish momentum in the price trend.
However, a doji candlestick suggests potential day trader exhaustion. Competition from Solana's ecosystem poses a scalability narrative threat, though ETH maintains dominance in institutional trust and stablecoin volume.