Dogecoin (DOGE) is main the altcoin market increased as hypothesis surrounding a possible Rex-Osprey Dogecoin ETF intensifies. The memecoin surged 7% prior to now 24 hours, climbing to $0.231, with every day buying and selling quantity spiking 123% to $2.6 billion.
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According to prediction market Polymarket, the percentages of DOGE ETF approval this week stand at 94%. Experts recommend such an approval may mark a turning level for Dogecoin, probably inserting it alongside Bitcoin and Ethereum within the regulated ETF panorama.
Nate Geraci, President of NovaDius Wealth Management, famous on X that the “first Dogecoin ETF seems prone to launch this week,” fueling pleasure throughout the crypto group.
Analysts Eye Higher Targets for Dogecoin (DOGE)
Technical analysts stay optimistic, with Dogecoin at the moment buying and selling inside a long-term logarithmic uptrend.
Chart patterns spotlight a broadening wedge, traditionally linked to explosive rallies. Analysts now level to $1.40 as the following main resistance stage, with some forecasts suggesting a transfer towards $1.50 if ETF-driven momentum holds.
Open curiosity in DOGE futures has surged 14.5% to $3.81 billion, whereas choices exercise has greater than tripled. The skew towards bullish positions reveals merchants’ confidence, although analysts warning {that a} rejection at resistance may set off sharp pullbacks.
Despite near-term volatility dangers, long-term projections stay bullish. Crypto strategist Javon Marks even advised DOGE may see an 860% upside, concentrating on as excessive as $2.28 within the subsequent main cycle.
DOGE's value traits to the upside on the every day chart. Source: DOGEUSD on Tradingview
Altcoins Join the Rally
Dogecoin’s surge is lifting the broader market, with XRP, Solana (SOL), and Hyperliquid (HYPE) additionally recording beneficial properties.
Optimism is being boosted not solely by ETF hypothesis but in addition by expectations of a 50 foundation level Fed fee reduce on the upcoming September 17 assembly. A dovish coverage shift may inject recent liquidity into threat property, additional supporting altcoin momentum.
The Dogecoin ETF, if permitted, would signify the primary U.S.-listed funding product tied to a meme coin. Such a milestone may develop institutional entry, reinforce DOGE’s market management, and supply a basis for its subsequent value breakout.
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For now, all eyes stay on regulators. With sentiment robust and technicals flashing bullish indicators, the market is watching intently to see if Dogecoin can lengthen its rally towards the much-anticipated $1.50 milestone.
Cover picture from ChatGPT, DOGEUSD chart from Tradingview
