The post How High Could Dogecoin Price Go If A DOGE ETF Is Approved? appeared on BitcoinEthereumNews.com.

The approval of a DOGE Exchange-Traded Fund (ETF) could significantly impact the Dogecoin price, potentially driving it to new heights. Given the previous market response to Bitcoin ETFs, an approved Dogecoin ETF would likely attract substantial institutional investment and enhance market liquidity. This surge in demand could push the price of Dogecoin well above its current levels, making the $1 mark a more realistic target for investors. DOGE price today is down 5.7%, trading at $0.1368 after Bitcoin lost the $67,000 support. The crypto market is down 2.1%, hovering around $2.4 trillion.  How High Could Dogecoin Price Climb with a DOGE ETF Approval? If a Dogecoin (DOGE) ETF were approved, it would affect the positively price of DOGE since ETFs are considered less risky compared to normal crypto assets and stocks. Traditional investors who want to be exposed to Dogecoin without suffering market volatility would choose to invest in a DOGE ETF. This will likely lead to a price explosion that could send DOGE to new all-time highs. However, to better understand how DOGE price would perform, it would be prudent to explore the only two existing crypto ETFs: the spot Bitcoin ETF and the spot Ethereum ETF. When these two were approved on January 10 and July 23, respectively, it was sell-the-news news even as most had bought the rumor leading up to the approval. While Bitcoin later regained momentum and made a new all-time high in the following two months, Ethereum has consistently dropped since its ETF began trading. Dogecoin price will likely perform like one of these two assets in the event of an ETF approval. However, since DOGE is in a niche of its own (meme coin), the impact may be exponentially more significant as this niche is known to explode with thousands of percentage gains.…

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Filed under: News - @ October 23, 2024 6:20 am