The DOGE price has been steadily increasing as the meme coin is riding the wave of growing optimism surrounding the potential launch of a Dogecoin ETF. As the cryptocurrency price has been on a tear, investors and analysts are now wondering if DOGE is heading to its next critical target of $0.6.
Significantly, Dogecoin has become a staple in the crypto market with its loyal community and strong brand recognition. Despite its origins as a joke, DOGE has proven to be resilient and adaptable, capable of exhibiting massive rallies. Thus, the potential launch of a Dogecoin ETF tomorrow could be a game-changer for the DOGE token.
Dogecoin Price Surges
The Dogecoin price has been exhibiting a positive trend for an extended period, with a notable shift occurring after September 7. After reaching a high of $0.46 in December 2024, the meme coin experienced a downward pull, following which DOGE got trapped in a consolidation period. Considering its performance over the past month, the meme coin showed a neutral trend initially, but later broke out into an upward inclination, reaching new heights.
Although DOGE experienced a decline afterwards, it is still remaining in the green, indicating its potential for an upward push. Currently, DOGE is trading at $0.2646, up 0.97%. It is noteworthy that the meme coin has seen more notable upticks of 8.6% and 18.6% over the past week and month, respectively.
Despite this bullish sentiment, traders appear less attracted to the token. This is evident from the 15% decline in the 24-hour trading volume, which is currently at $3.46 billion. This plummet is quite surprising as it comes amid the price surge and increasing optimism surrounding the DOGE ETF launch on Thursday.
Will Dogecoin ETF Launch Tomorrow?
Interestingly, the Rex Shares-Osprey Dogecoin ETF, with the ticker DOJE, is set to become the first US exchange-traded fund linked to DOGE, scheduled to launch on September 18. This development, as reported by Bloomberg analysts Eric Balchunas and James Seyffart, could mark a significant milestone in bridging decentralized finance (DeFi) and traditional finance (TradFi). This launch could also pave the way to increased institutional investment in Dogecoin, potentially leading to the meme coin’s growing acceptance and price growth.
As noted by Seyffart, “As of now, the Doge ETF DOJE is slated for a Thursday launch.” Adding more optimism to the imminent launch of the Dogecoin ETF, Seyffart stated that the DOJE debut is “more likely than not.”
DOGE Price Targets New ATH
Driven by the bullish sentiment and the game-changing introduction of the Dogecoin ETF, analysts and experts are increasingly becoming optimistic about the largest meme coin. Dogecoin’s recent entry into the gaming industry has also sparked a fresh wave of enthusiasm around the meme token.
Presenting a bullish perspective of DOGE, Trader Tardigrade, a prominent voice in the crypto space, shared an X post earlier today. According to his analysis, the memecoin is facing a daily resistance trendline, but the consolidation pattern forming suggests that the momentum is building. This signals that each consolidation is reaching higher levels. This indicates decreasing selling pressure, potentially paving the way for Dogecoin to break through the resistance and reach new all-time highs.
Another analyst, Crypto NL, shared a more bullish prediction, projecting the crypto’s rally to an ambitious high of $1.20. According to the analyst, if DOGE could reclaim its critical level of $0.50, the rally towards $1.20 appears possible. He believes this massive ride will happen in 2025.
