With Nasdaq applying to list the 21Shares Dogecoin ETF, the price of Dogecoin is set to rise; if the inflow matches that of the Bitcoin ETF, Dogecoin's price is expected to increase by 95% to 190%.
Analysts predict that the price of Dogecoin (DOGE) will reach $1.1 as large whales accumulate 100 million Dogecoins.
As Nasdaq applies to list the 21Shares Dogecoin ETF, the price of Dogecoin is expected to surge above $0.17, sparking bullish momentum and investor interest.
If the Dogecoin ETF captures 30% to 50% of the Bitcoin ETF inflow, the price of Dogecoin may range between $0.34 and $0.50.
Traders are looking forward to June 15, as the SEC will make a decision on the Bitwise and Nasdaq's 21Shares Dogecoin ETF application on this day.
Driven by renewed optimism from Bitcoin ETF inflows, the price of Dogecoin has risen 2.3% in the past 24 hours, breaking through the resistance level of $0.17.
Since its approval, Bitcoin ETF managed assets have exceeded $40 billion. If the inflow for the Dogecoin ETF is only 30-50% of that of the Bitcoin ETF, speculation around the Dogecoin ETF will increase.
Dogecoin (DOGE) surged to $0.17, indicating further growth in the coming week.
Dogecoin (DOGE) has risen 2.3% in the past 24 hours, trading at $0.173. Speculation around the Dogecoin ETF has intensified since Nasdaq officially filed to list the 21Shares Dogecoin ETF.
According to CoinGecko data, Dogecoin (DOGE) has risen 5.0% in the past week, surpassing Bitcoin's 1.1% increase and Ethereum's 2.1% increase during the same period.
As traders expect Dogecoin to break through the resistance level of $0.18, trading volume continues to increase. Dogecoin has gained 11.9% over the past 14 days, placing it among the top 20 cryptocurrencies, reflecting its positive momentum after lagging in the April rally.
The 21Shares Dogecoin ETF application could trigger billions of dollars in inflows.
On April 30, Nasdaq submitted a 19b-4 filing to the SEC seeking approval to list and trade the 21Shares Dogecoin ETF.
Previously, on April 10, asset management firm 21Shares collaborated with House of Doge, a company under the Dogecoin Foundation, to submit an S-1 registration.
The fund will track the CF DOGE-USD US settlement price index and hold DOGE directly—without the use of leverage, derivatives, or synthetic products. Coinbase Custody Trust has been appointed as the official custodian.
Just days after the SEC postponed its decision on the altcoin ETF applications to June 15, the agency submitted its application. Although no DOGE ETF has been approved yet, market observers have begun to speculate on its potential impact.
Price predictions if Dogecoin receives 30% to 50% of Bitcoin ETF inflows.
According to the latest data compiled by Farside, since its launch in January, the US spot Bitcoin ETF has attracted over $40 billion in net inflows.
If the DOGE ETF can attract 30% to 50% of the trading volume, the potential inflow could be between $12 billion and $20 billion.
