Dogecoin ETF and Its Impact on DOGE Prices

Bittime - Two major companies, Bitwise and Rex Shares, submitted applications for a Dogecoin ETF in the United States. 

If approved, this ETF could have a major impact on the Dogecoin ecosystem, especially the price of the DOGE token. The following is the latest information on the Dogecoin ETF and its impact on DOGE price!

DOGE Price Prediction If Dogecoin ETF Approved

Crypto analyst Ali Martinez predicts that DOGE prices could surge to $15 if a Dogecoin ETF gets approval. 

Based on technical analysis using logarithmic charts from 2017 to 2025, Martinez identified a large ascending channel pattern, consisting of 3 parallel trendlines that has guided DOGE price movements for years.

The lowest trend line in this channel has been strong support since 2017. This channel is also what helps DOGE survive major downturns, such as those that occurred in early 2019 and mid-2022. 

Read Also: Bitwise Officially Proposes Dogecoin ETF, From Joke to Serious Asset!  

Dogecoin ETF Impact on DOGE Price

According to Martinez, the approval of the Dogecoin ETF could be a major catalyst that drives the influx of new investments, both from institutions and retail investors. 

The Dogecoin ETF will open up easier access for many parties to invest in Dogecoin without having to buy crypto assets directly.

If this ETF launches successfully, new capital flows into DOGE could increase buying pressure, technically allowing the price to break through resistance around $1.00 and head towards the predicted $15 target.

Dogecoin ETF and Current DOGE Price

With the potential approval of a Dogecoin ETF, DOGE price is currently below the median line of the channel, which has been an important level in its history. 

When buying pressure is strong enough, this line is often the starting point of upward price movement. If DOGE manages to stay above this level, the chances of reaching the next resistance at around $1.00 become greater.

Read Also: DOGE Price Prediction 2025: Potential Dogecoin Pump!  

Dogecoin FAQs

What is Dogecoin?

Dogecoin is a meme coin created in 2013 by Billy Markus and Jackson Palmer. Originally created as a joke, Dogecoin has now become one of the most popular crypto assets with a large and active community.

What is the Difference Between Dogecoin and Bitcoin?

Dogecoin has an unlimited supply, while Bitcoin has a maximum supply of 21 million coins. In addition, Dogecoin transactions are faster and have lower fees than Bitcoin, making them more suitable for everyday payments.

What is the use of Dogecoin?

Dogecoin is often used for online tipping, charitable donations, and micropayments. Apart from that, the community is also active in supporting social projects.

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Reference

Blockonomi, Dogecoin (DOGE) Heads to Wall Street: Bitwise Makes First Move Toward ETF, accessed January 27, 2025.

NEWS BTC, Dogecoin ETFs Will Skyrocket Price To $15, Forecasts Analyst, accessed January 27, 2025.

Author: IPR