Dogecoin Price Forecast: DOGE ETF Hype Fuels Breakout Hopes as Profitable Supply Grows
The post Dogecoin Price Forecast: DOGE ETF Hype Fuels Breakout Hopes as Profitable Supply Grows appeared on BitcoinEthereumNews.com.
Dogecoin holds near $0.18 as ETF anticipation builds, backed by SEC leadership shift and strong institutional engagement. Despite $1.22M long liquidations signaling short-term pressure, RSI and EMA levels still hint at bullish potential. Dogecoin remained firm near $0.18 on Friday, in line with a wider crypto market rally recently. The price sets up major recovery from the April 7 low of $0.13. The momentum is sustained by increasing speculation about approval of Dogecoin spot Exchange Traded Funds (ETFs), potentially funneling a large influx of new capital into the market. The Securities and Exchange Commission (SEC) is in the process of considering applications filed by large fund managers such as 21Shares, Bitwise, and Grayscale to launch DOGE spot ETFs. Importantly, Nasdaq has filed Form 19b-4 to list shares in the 21Shares Dogecoin ETF. The proposals for DOGE ETFs picked up momentum when Paul Atkins, who is pro-crypto in nature, was elected to serve as chair of the SEC. His tenure has generated optimism among investors that the regulator will approve DOGE ETFs in the near future, with Bloomberg analyst Eric Balchunas giving it an 80% chance. Dogecoin ETF Gains Credibility, Traders Turn Optimistic The recent data indicates increasing optimism among investors and traders. The latest market update by market insight firm Santiment indicates collaboration between the Dogecoin Foundation and 21Shares through the House of Doge has lent legitimacy to the proposed ETF. Santiment said: The partnership between 21Shares and the Dogecoin Foundation (via the House of Doge) to promote the ETF has added credibility to the project, sparking stronger engagement from both longtime DOGE supporters and traditional investors looking for new opportunities, Social sentiment has also turned in a positive direction. Dogecoin is finally viewed more and more as more than a simple meme token and a real investing opportunity drawing…
Filed under: News - @ May 3, 2025 6:28 am