Key Points:
With the launch of the REX-Osprey Dogecoin ETF, Dogecoin has transitioned from a memecoin to a mainstream asset.
The bullish megaphone pattern target for DOGE price is $1.40.
Dogecoin (DOGE) price reported at $0.28 on Thursday, up 12% from Tuesday's local low of $0.25. This rebound is attributed to the growing market enthusiasm for the launch of the first Dogecoin ETF in the U.S.
The REX-Osprey Dogecoin ETF ($DOJE) was listed on U.S. exchanges on Thursday, becoming the first compliant product designed specifically for memecoins.
Launching Tomorrow: REX-Osprey™ XRP ETF, $XRPR, & REX-Osprey™ DOGE ETF, $DOJE. The first U.S.-listed ETFs offering spot exposure to $XRP and $DOGE go live tomorrow, offering investors a way to access these digital assets through an ETF structure. Brought to you by… pic.twitter.com/NbyQqEs1YQ
The product was jointly launched by REX Shares and Osprey Funds, which had previously launched the Solana Staking ETF (SSK) earlier this year. $DOJE was quickly approved under the Investment Company Act of 1940, bypassing the lengthy approval process of the Securities Act of 1933, avoiding delays faced by competitors like Bitwise and Grayscale.
Analysts state that this issuance is significant for memecoins, expected to inject institutional funds into the volatile DOGE ecosystem and bring mainstream recognition.
Nate Geraci, president of ETF Store, posted on X platform on Wednesday, stating, "The first DOGE ETF goes live tomorrow," and added:
Crypto influencer and YouTuber SMC Kapil DEV stated on X platform: "The DOGE ETF will have its historic debut in the U.S. this Thursday!"
The analyst pointed out that this move transforms Dogecoin from a memecoin into a mainstream asset, "DOGE becomes the first memecoin to have a dedicated ETF on Wall Street."
The U.S. Securities and Exchange Commission (SEC) is expected to rule on several spot ETF applications, including Grayscale's application to convert its Dogecoin trust into an ETF. The final decision deadline for this application is mid-October.
Polymarket bettors are optimistic, currently raising the probability of a 2025 spot DOGE ETF approval to 98%.
Overall, $DOJE lays the foundation for DOGE to enter a mature stage, potentially attracting billions of dollars in inflows, similar to the performance seen after the launch of spot Bitcoin (BTC) and spot Ethereum (ETH) ETFs. Analysts believe this could lead to a significant price increase for DOGE.
The recent rebound in Dogecoin and the expected inflows from the DOGE ETF have led market analysts and traders to set diverse price targets based on different technical patterns.
Analyst Bitcoinsensus posted on Monday: "This week is significant for Dogecoin, as we welcome the first memecoin ETF." He added:
The attached chart shows that DOGE is currently within a bullish megaphone pattern, which has previously driven the altcoin to achieve higher gains, with each rebound surpassing the last.
This technical pattern suggests that the next round of increases could push DOGE price up to $1.40, a 400% increase from current levels.
Trader CryptoELlTES set a more aggressive target, stating that a large influx of institutional funds into the Dogecoin market could push its price to $5.
My target for $DOGE is $5 after a Dogecoin ETF! I believe a huge wave of institutional money is about to flow into #Memecoins very soon. Do you have any #DOGE in your portfolio? pic.twitter.com/udAXxbkyPA
According to Cointelegraph, Dogecoin is expected to rise to the $0.60 resistance level after breaking out of a symmetrical triangle that has formed over the past few months, before continuing to climb.
Related: Vitalik Buterin defends Ethereum (ETH) exit queue, Galaxy Digital deletes controversial post
Original article: “Dogecoin's First ETF Launches, How High Can DOGE Price Go?”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
