FameEX Hot Topics | Can the Launch of the First Dogecoin ETF Push DOGE Price Higher?

Dogecoin (DOGE) analysts are increasingly optimistic about the cryptocurrency’s price trajectory, with some predicting the possibility of a significant surge to $1 or even beyond. This potential growth is largely attributed to the launch of the first-ever Dogecoin Exchange-Traded Fund (ETF) in the United States, which has generated considerable excitement in the market. As of Thursday, Dogecoin traded at $0.28, marking a 12% increase from its recent low of $0.25 on Tuesday. This upward movement reflects a growing sense of optimism among investors, who are looking to the new ETF as a catalyst for further price gains.

The REX-Osprey Dogecoin ETF, which officially debuted on U.S. exchanges on Thursday, is a historic development for the memecoin. Tickered as $DOJE, this ETF is the first regulated product to focus solely on Dogecoin, a move that is expected to bring significant legitimacy to the asset class. Sponsored by REX Shares and Osprey Funds—both of which were involved in the launch of the Solana Staking ETF earlier this year—the $DOJE ETF utilized the Investment Company Act of 1940 to expedite its approval. This strategy allowed it to bypass the more arduous process set forth by the Securities Act of 1933, which had previously delayed the launches of similar Dogecoin products by firms such as Bitwise and Grayscale.

This launch is seen as a pivotal moment for Dogecoin, as it could potentially bring in institutional capital, introducing a new wave of investors to the market. The $DOJE ETF is expected to provide DOGE with mainstream legitimacy, shifting its status from a volatile, meme-based asset to a more recognized investment product. “DOGE becomes the first memecoin with its own ETF on Wall Street,” said analyst SMC Kapil DEV in a post on X, further emphasizing the importance of this launch. By being the first to market with a regulated Dogecoin product, the ETF opens the door to greater institutional participation, which could significantly impact the coin’s long-term price trajectory.

Looking ahead, the launch of the $DOJE ETF positions Dogecoin for what analysts are calling a maturation phase. Much like the post-launch success seen with spot Bitcoin and Ethereum ETFs, DOGE could experience a surge in capital inflows as institutional investors gain easier access to the asset. According to analysts, these inflows could result in massive price gains for DOGE, particularly given its relatively low market cap compared to Bitcoin and Ethereum. Some forecasts suggest that Dogecoin could see an influx of billions of dollars, which would undoubtedly fuel further growth.

The market’s excitement is reflected in the bullish outlook for DOGE’s price. Analyst Bitcoinsensus shared a chart showing DOGE’s current price action within a bullish megaphone pattern, which has historically led to higher percentage gains for the asset. Based on this technical setup, some analysts are projecting that DOGE could soar to as high as $1.40, a remarkable 400% increase from its current level. This potential price surge, coupled with the expected inflows of capital, underscores the growing optimism surrounding Dogecoin’s future. With the $DOJE ETF now live, the stage is set for Dogecoin to make a bold move into the mainstream, potentially solidifying its place as a major player in the cryptocurrency market.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.