- Dogecoin ETF speculation fuels bullish sentiment, with analysts eyeing a $4 target.
- Breaking the $0.350 resistance could push DOGE toward new all-time highs.
- Institutional interest in Dogecoin grows amid ETF approval anticipation.
Dogecoin’s price trajectory has captured the attention of the crypto community, with analysts forecasting a potential rally fueled by speculation surrounding a Dogecoin exchange-traded fund (ETF). The recent filing by NYSE Arca to list and trade Grayscale’s spot Dogecoin ETF has ignited excitement among investors. Additionally, growing optimism about regulatory approval has led to bullish price predictions, with some analysts setting ambitious targets of $4 for DOGE.
Dogecoin’s Uptrend Gains Momentum
Dogecoin has been mirroring the broader market’s positive movement, currently trading around $0.2614. While the asset saw a slight 0.35% decline in the past 24 hours, it remains up by 3.87% over the past week. With a market capitalization of approximately $38.75 billion and a circulating supply of 150 billion DOGE, traders are closely monitoring key resistance levels for potential breakouts.
Technical analyst Trader Tardigrade has identified bullish signals in DOGE’s price momentum. According to his analysis, the Price Momentum Oscillator (PMO) suggests an imminent surge, indicating that the memecoin could enter a parabolic phase. Similarly, analyst Crypto Tony noted that a rally is inevitable, emphasizing that breaking the crucial $0.350 resistance level could pave the way for all-time highs.
#Dogecoin Price Momentum Oscillator (PMO) indicates a potential SURGE in $DOGE is on the horizon 🔥 pic.twitter.com/mKgeqDHL8n
— Trader Tardigrade (@TATrader_Alan) February 13, 2025
Spot DOGE ETF Hype Fuels Price Speculation
The recent move by NYSE Arca to file a 19b-4 form with the Securities and Exchange Commission (SEC) for Grayscale’s Dogecoin ETF has intensified speculation about DOGE’s future. The filing followed the launch of the Grayscale Dogecoin Trust, signaling a growing institutional interest in the asset. If approved, the ETF could provide significant legitimacy to Dogecoin and attract new investors into the market.
Bloomberg analysts James Seyffart and Eric Balchunas have weighed in on the likelihood of approval, estimating a 75% chance that the SEC could greenlight a Dogecoin ETF. They also suggested that similar altcoin ETFs, such as XRP, may receive regulatory acknowledgment soon. The prospect of an ETF approval has heightened investor enthusiasm, with Dogecoin enthusiasts like Doge Lord forecasting a price climb to $1 in the near term.
NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We're putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.
— James Seyffart (@JSeyff) February 10, 2025
Here's the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M
Memecoin Trends Add to Dogecoin’s Hype
Beyond the ETF speculation, Dogecoin has also gained attention due to Changpeng Zhao’s (CZ) plans to introduce a new memecoin inspired by his pet dog. This development has fueled speculation that a new wave of dog-themed cryptocurrencies may emerge, potentially benefiting DOGE’s market position.
