The price of Dogecoin has risen by 2.3% in the last 24 hours and has surpassed resistance at $0.17 amid renewed optimism regarding inflows into the Bitcoin ETF.
Since the approval of the Bitcoin ETF, over $40 billion in assets have been under management, and more people are wondering what a potential Bitcoin ETF could mean if DOGE makes up 30% to 50% of the inflow of funds into the Bitcoin ETF.
Dogecoin (DOGE) signals a bullish week with a rise of $0.17
Dogecoin (DOGE) has risen by 2.3% in the last 24 hours and is trading at $0.173. Speculation around the possible creation of a Dogecoin ETF has intensified after Nasdaq officially submitted its application for the listing of the 21Shares Dogecoin ETF.
According to CoinGecko, DOGE has risen by 5.0% over the past week, outperforming Bitcoin, which rose by 1.1%, and Ethereum, which rose by 2.1% over the same period.
Trading volume remains high as traders anticipate a bullish breakout above the resistance level of $0.18. The 14-day DOGE gain of 11.9% is among the highest among the 20 largest cryptocurrencies, reflecting the positive dynamics following the downturn during the April rally.
The application for the 21Shares DOGE ETF may lead to an inflow of billions of dollars.
On April 30, Nasdaq submitted Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) requesting approval for the listing and trading of shares of the 21Shares Dogecoin ETF.
This occurred after 21Shares, an asset management company, registered an S-1 on April 10 in partnership with House of Doge, a corporate division of the Dogecoin Foundation.
The fund will track the CF DOGE-Dollar reference price index in the US and directly hold DOGE — without using leverage, derivatives, or synthetic products. Coinbase Custody Trust has been appointed as the official custodian.
This application was submitted just a few days after the Securities and Exchange Commission postponed its decision on applications for altcoin-based ETFs until June 15. Although no DOGE-based ETF has yet been approved, analysts are already pondering the potential impact.
Price forecast for Dogecoin if it receives 30-50% of the inflow of funds into the Bitcoin ETF
According to the latest data collected by Farside, since its January launch, American spot Bitcoin ETFs have absorbed a net inflow of over $40 billion.
If the DOGE ETF attracts at least 30% to 50% of this amount, the potential inflow could be between $12 billion and $20 billion.
As of May 3, 2025, Bitcoin ETF assets reached $40 billion | Source: Farside
Under current market conditions, Dogecoin's market capitalization is $24 billion. Investing between $12 billion and $20 billion could more than double the total market capitalization, assuming similar trading dynamics and demand as BTC.
This implies a theoretical target price level for DOGE between:
$0.34 with an inflow of $12 billion.
$0.50 with an inflow of $20 billion
Such an increase would reflect a rise of 95% to 190% compared to current DOGE prices.
What's next: SEC decision timelines and implications for the market
As the June 15 deadline approaches for the Bitwise DOGE ETF and the Nasdaq 21Shares DOGE ETF currently under review, traders and institutions will closely monitor the progress of the application reviews.
If any of the ETFs receive approval, DOGE could quickly transform from a meme asset into a regulated financial instrument, opening access to institutional capital, pension accounts, and RIA-managed portfolios.
ETF flow data for April shows that Bitcoin ETFs recently set new records for one-day inflows: $936.5 million on April 22, and $917 million on April 23.
If the Dogecoin ETF is approved, its flows are likely to develop along the same trajectory as Bitcoin. Enthusiasts speculate that inflows into the Dogecoin ETF could exceed expectations due to DOGE's status in pop culture, high retail investor engagement, and broad availability on exchanges.
If the inflow of funds into the Dogecoin ETF reaches even a fraction of the Bitcoin ETF level, DOGE could trade in the range of $0.34 to $0.50 in the medium term.
An approving verdict from the SEC would not only be a short-term bullish catalyst for DOGE price action but could also strengthen the adoption of memecoins in traditional finance.
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