Dogecoin Leads Altcoin Rally Amid ETF Speculation: Is $1.50 the Next Big Target?
Dogecoin (DOGE) is main the altcoin market increased as hypothesis surrounding a possible Rex-Osprey Dogecoin ETF intensifies. The memecoin surged 7% in the previous 24 hours, climbing to $0.231, with day by day buying and selling quantity spiking 123% to $2.6 billion.
According to prediction market Polymarket, the odds of DOGE ETF approval this week stand at 94%. Experts recommend such an approval might mark a turning level for Dogecoin, doubtlessly putting it alongside Bitcoin and Ethereum in 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 neighborhood.
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 subsequent main resistance degree, 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 exhibits merchants’ confidence, although analysts warning {that a} rejection at resistance might set off sharp pullbacks.
Despite near-term volatility dangers, long-term projections stay bullish. Crypto strategist Javon Marks even advised DOGE might see an 860% upside, concentrating on as high as $2.28 in the subsequent main cycle.
Altcoins Join the Rally
Dogecoin’s surge is lifting the broader market, with XRP, Solana (SOL), and Hyperliquid (HYPE) additionally recording positive factors.
Optimism is being boosted not solely by ETF hypothesis but in addition by expectations of a 50 foundation level Fed charge minimize at the upcoming September 17 assembly. A dovish coverage shift might inject recent liquidity into danger belongings, additional supporting altcoin momentum.
The Dogecoin ETF, if authorised, would characterize the first U.S.-listed funding product tied to a meme coin. Such a milestone might develop institutional entry, reinforce DOGE’s market management, and supply a basis for its subsequent value breakout.
For now, all eyes stay on regulators. With sentiment sturdy 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
