The Dogecoin price jumped 2.3% in the last 24 hours to vioder the resistance of $ 0.17 in a renewal of optimism around Bitcoin ETF inputs.
The Bitcoin ETF drawing more than $ 40 billion in assets under management since approval, speculation approaches what a Dogecoin potential ETF could mean if Doge captures only 30% to 50% of BTC ETF inputs.
DOGECOIN (DOGE) reports the optimistic week with a rebound of $ 0.17
DOGECOIN (DOGE) jumped 2.3% in the last 24 hours to negotiate $ 0.173, because speculation around a possible Dadecoin ETF intensified following the official NASDAQ file to list the 21shares DOGECOIN ETF.
According to Coingecko, DOGE climbed 5.0% in last week, surpassing the 1.1% Bitcoin gain and the 2.1% increase in Ethereum during the same period.
The volume of trading remains high as traders anticipate a bull's ripper over the resistance level of $ 0.18. The 14-day Doge-Day performance of 11.9% among the highest in the best cryptocurrencies, reflecting a positive momentum after the train during the wider rally of April.
21Shares DOGE ETF The deposit could trigger billions of entries
On April 30, the Nasdaq submitted a 19b-4 deposited to the American Commission for Securities and Exchange (SEC) requesting the approval of lists and to exchange the actions of the 21Shares Dogecoin ETF.
This follows an S-1 registration filed by the 21Shares asset manager on April 10, in partnership with House of Doge, the corporate branch of the Dogoin Foundation.
The fund will follow the United States's regulation price index CF DOGE-DOLLAR and will directly hold DOGE-without using the lever effect, derivatives or synthetic products. Coinbase Gustod Trust was appointed official caretaker.
This file arrives only a few days after the SEC delayed its decision on the Altcoin ETF applications until June 15. Although no ETF DOGE has yet been approved, market observers are already specifying on the potential impact.
Prediction of dececoin prices if it obtains 30% to 50% of Bitcoin ETF entries
Since their launch of January, the FNB Bitcoin of US spots have absorbed more than $ 40 billion in net entries, according to the latest data from Farside.
If an ETF DOGE captures even 30% to 50% of this figure, the potential influx could vary from 12 billion to $ 20 billion.
Under current market conditions, Dogecoin has a market capitalization of 24 billion dollars. An injection of 12 billion to $ 20 billion could more than double total market capitalization, assuming a negotiation dynamic and demand pressure similar to the BTC.
This implies a theoretical DOGE price objective between:
Such an increase would reflect 95% to 190% of current Doge prices.
What is the next one: dry decision comments and market implications
With the deadline of June 15 of the dry for Bitwise's Doge Etf and the 21shares Doge Et application of Nasdaq pending, traders and institutions will monitor closely.
If one or the other ETF approves, DOGE could quickly move from an asset even to a regulated financial instrument, opening access to institutional capital, retirement accounts and portfolios managed by RIA.
APRIL ETF flow data show that Bitcoin ETF recently set new records for one -day $ 936.5 million in the only $ 917 million dollars on April 23, according to public documents. The monthly total has always reached $ 40.2 billion in net cumulative admissions.
Dadecoin's flows, if approved, would probably follow a more modest trajectory than bitcoin, but could exceed expectations due to Doge's pop culture status, high retail commitment and the greatest availability of exchange.
If Dadecoin FNB entries even reach a fraction of Bitcoin ETF levels, DOGE could be negotiated between $ 0.34 and $ 0.50 in the medium term.
An approval verdict of the dry would not only be a short -term bullish catalyst for the action of DOGE prices, but it could also consolidate the adoption of the same in traditional finance.
Frequently asked questions (FAQ)
Dogecoin price increased by 2.3% due to speculation around the 21Shares Doge Etf and Bitcoin Strong Bitcoin entries
It is a negotiated stock exchange which will directly hold Doge, with the Coinbase Guard serving as an official goalkeeper.
If DOGE captures 30% to 50% of Bitcoin ETF entries, its price could reach between $ 0.34 and $ 0.50.
Ibrahim
Cryptographic analyst covering derivative markets, macro-tendencies, technical analysis and defi. His work presents in -depth information on the market, price forecasts and institutional quality research on digital assets.
Warning: The content presented may include the author's personal opinion and is subject to the market state. Do your market studies before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
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