How high can the price of DOGE rise when the first Dogecoin ETF is launched?

On Thursday, the price of Dogecoin traded at 0.28 USD, up 12% from the local low of 0.25 USD recorded on Tuesday. This bounce back was fueled by increased excitement surrounding the launch of the first Dogecoin ETF in the United States.

Launch of REX-Osprey Dogecoin ETF

The REX-Osprey Dogecoin ETF, ticker symbol $DOJE, officially launched on U.S. exchanges on Thursday, becoming the first managed product dedicated to memecoin.

Sponsored by REX Shares and Osprey Funds, the team behind the Solana Staking ETF (SSK) earlier this year, $DOJE leveraged the Investment Company Act of 1940 to achieve rapid approval, bypassing the lengthy process of the Securities Act of 1933, which has delayed competitors like Bitwise and Grayscale.

This launch marks a significant turning point for memecoin, with the potential to attract capital from institutions and enhance the legitimacy of the volatile DOGE ecosystem, according to analysts.

ETF Store Chairman, Nate Geraci, shared in a post on X on Wednesday: "The first DOGE ETF will launch tomorrow. As I said, the next few months will be very exciting."

Cryptocurrency influencer and YouTuber SMC Kapil DEV also stated: "DOGE ETF will launch this Thursday at a historic event in the U.S.!" This has transformed Dogecoin from a memecoin into a mainstream asset, as "DOGE becomes the first memecoin to have its own ETF fund on Wall Street," according to an analyst.

The U.S. Securities and Exchange Commission (SEC) is expected to make a decision on several applications for spot ETF funds, including the application to convert Grayscale's Dogecoin Fund into an ETF. The deadline for the SEC to make a decision on this application is mid-October.

Bets on Polymarket remain optimistic, with the approval rate for the DOGE ETF fund set to launch in 2025 at 98%.

Positioning DOGE for the Maturity Phase

Overall, $DOJE is paving the way for DOGE to enter a mature phase, with the potential to attract billions of USD in capital flows similar to what has occurred with spot Bitcoin and Ethereum ETF funds after their launch. Analysts believe this could lead to strong price surges for DOGE.

Ambitions from traders

The recent bounce back of Dogecoin, along with the expected capital inflow from DOGE ETF funds, has led market analysts and traders to set various price targets based on technical setups.

The analyst from Bitcoinsensus stated: "This week is an important week for Dogecoin, as we have the first memecoin ETF fund. This could trigger a significant influx of capital into $DOGE, similar to what we have witnessed with $BTC and $ETH."

An accompanying chart shows that DOGE is trading in a bullish funnel pattern, which has previously seen this altcoin record higher percentage gains in the same pattern, with nearly every price increase surpassing the previous one.

This setup suggests that the next wave could push the price of DOGE up to 1.40 USD, equivalent to a 400% increase from the current level.

DOE price chart weekly timeframe | Source: BitcoinsensusTrader CryptoELlTES has set a more ambitious target, believing that a large influx of institutional money into the Dogecoin market could push the price up to 5 USD.

"My target for $DOGE is 5 USD after the Dogecoin ETF fund!"

According to Coinphoton, the breakout of Dogecoin from a symmetrical triangle that has lasted for several months could push the price up to the resistance level of 0.60 USD before continuing to rise higher.

Mr. Giáo