The Dogecoin community has recently become more vibrant after Eric Balchunas, a Bloomberg analyst, revealed an 80% chance of ETF approval for DOGE in the U.S., with the deadline being October 17.
This data immediately generated a huge wave of expectations among investors, especially after Dogecoin recorded a 2.5% increase on the day, raising the price to $0.1792 and the market capitalization reaching $26.7 billion.
Whales are quietly accumulating, the market is preparing for a new increase.
In the context of the market strongly recovering thanks to Bitcoin reaching the $95,000 mark, altcoins such as Ether, Solana, and XRP are beginning to show signs of profit-taking.
Specifically, Dogecoin shows positive signals with over 100 million DOGE purchased by 'whales' in just the past 7 days.
According to the latest data, institutional inflow into DOGE remains strong, while outflows from centralized exchanges are decreasing, indicating that investor confidence is gradually recovering. Some traders expect the price of DOGE could soon surpass $0.3 if the upward momentum continues.
Dogecoin has led the increase of the meme coin group.
Not only DOGE, but the positive wave has also spread to many other meme coins such as Shiba Inu (SHIB), PEPE, and Official Trump, with an increase of over 7% in the past week.
In the past month, the total market capitalization of the meme coin group increased by over $12 billion in just one day, thanks to the widespread optimistic sentiment across the market.
Expert Ali Martinez predicts:
"If DOGE closes the month above $0.20, the possibility of advancing to the old peak of $0.74 is entirely feasible" — as long as institutional demand continues to rise.
