DOGE analysts highlighted the potential of a price surge to $1 and beyond, fueled by the launch of the first Dogecoin ETF in the United States.
Altcoin Watch
Key takeaways:
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Dogecoin shifts from a memecoin to a mainstream asset with REX-Osprey’s Dogecoin ETF launch.
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DOGE price bullish megaphone pattern targets $1.40.
Dogecoin () price traded at $0.28 on Thursday, up 12% from its local low of $0.25 reached on Tuesday. This recovery is fueled by growing excitement around the launch of the first Dogecoin ETF in the US.
REX-Osprey Dogecoin ETF debut
The REX-Osprey Dogecoin ETF, $DOJE, on Thursday, becoming the first regulated product dedicated to a memecoin.
Launching Tomorrow: REX-Osprey™ XRP ETF, , & REX-Osprey™ DOGE ETF, .
The first U.S.-listed ETFs offering spot exposure to and go live tomorrow, offering investors a way to access these digital assets through an ETF structure.
Brought to you by…
— REX Shares (@REXShares)
Sponsored by REX Shares and Osprey Funds, the team behind the (SSK) earlier this year, $DOJE leverages the Investment Company Act of 1940 for swift approval, bypassing the protracted Securities Act of 1933 process that .
Related:
This launch marks a pivotal moment for the , potentially injecting institutional capital and mainstream legitimacy into DOGE’s volatile ecosystem, according to analysts.
The “first ever DOGE ETF is launching tomorrow,” ETF Store president Nate Geraci in an X post on Wednesday, adding:
“Like I said, the next couple of months will be wild.”
“DOGE ETF is set to launch this Thursday in a historic US debut!” crypto influencer and YouTuber SMC Kapil DEV in an X post.
This transforms Dogecoin from a memecoin to a mainstream asset as “DOGE becomes the first memecoin with its own ETF on Wall Street,” the analyst added.
The US Securities and Exchange Commission is expected to decide on , including Grayscale’s application to . The deadline for the SEC to decide on this application is mid-October.
Polymarket bettors remain optimistic, now the approval odds of a spot DOGE ETF in 2025 at 98%.
Overall, $DOJE positions DOGE for a maturation phase, potentially unlocking billions in inflows similar to those seen in post-launch. Analysts say it may translate into massive price gains for DOGE.
Traders set ambitious price targets for DOGE
Dogecoin’s latest recovery and expected capital inflow through DOGE ETFs have led market analysts and traders to set varied price targets based on different technical setups.
“This week is a massive one for Dogecoin, as we are getting the first-ever memecoin ETF,” analyst Bitcoinsensus in a post on Monday, adding:
“This could trigger a massive influx of fresh capital into $DOGE just like we saw on $BTC and $ETH.”
An accompanying chart showed DOGE trading within a bullish megaphone pattern that has previously seen the altcoin post higher percentage gains while trading within the same pattern, with almost every rally beating the last.
The setup suggested that the next wave could potentially l, or a 400% increase from the current level.
Fellow trader CryptoELlTES set a more ambitious target, saying that a massive flow of institutional money into the Dogecoin market could propel it to $5.
“My target for $DOGE is $5 after a Dogecoin ETF!”
My target for is $5 after a Dogecoin ETF! I
believe a huge wave of institutional money is about to flow into very soon.
Do you have any in your portfolio?
— CryptoELlTES (@CryptooELITES)
As , Dogecoin’s breakout out of a multimonth symmetrical triangle should push it to $0.60 resistance before moving higher.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
