In the first quarter of this year, the cryptocurrency market indeed faced severe challenges. In a market environment with heightened geopolitical risks, the digital asset sector is nurturing new development opportunities. Notably, the meme coin sector, represented by Dogecoin, is approaching a significant turning point—multiple institutions are competing to launch Dogecoin ETF products, which may drive its price to challenge the key resistance level of $0.4.
As one of the most talked-about asset classes in the cryptocurrency market, Dogecoin has always faced skepticism regarding its 'real-world application value', but the launch of professional investment tools could serve as a catalyst for its value reassessment. If related ETF products are successfully approved, they may attract more institutional funds, triggering a new round of price discovery.
Dogecoin ETF may be coming soon, and Dogecoin is expected to reverse its consecutive decline.
In April, both the cryptocurrency market and the U.S. stock market faced severe challenges. The 'liberation day' tariff plan proposed by President Trump has further exacerbated market uncertainty. Although the financial market showed signs of recovery after the announcement of a 90-day pause on the tariff plan, the Dow Jones Industrial Average quickly fell by more than 1600 points again.
This chill has also spread to the cryptocurrency sector, with Bitcoin struggling to hold the $80,000 level. However, in the meme coin space, competition for the launch of the first Dogecoin ETF is becoming increasingly intense, which may bring new opportunities for Dogecoin, but whether it can return to the $0.4 price level remains uncertain.
It is noteworthy that 21Shares has joined the ranks of Grayscale and Bitwise by submitting regulatory documents for a Dogecoin investment fund, which undoubtedly adds new interest to the market. However, from a price performance perspective, this news has not immediately boosted Dogecoin, as its price has still fallen by 4% in the past 24 hours, and has accumulated a decline of over 20% in the past year.
Nevertheless, some investors remain optimistic about Bitcoin. The cryptocurrency price prediction platform CoinCodex expects Bitcoin's price to reach a peak of $0.64 this year, with an increase of over 320%. However, the realization of this prediction heavily depends on the alleviation of global market concerns, and the current market trends remain uncertain and difficult to predict accurately.
