Dogecoin (DOGE) is leading the altcoin market higher as speculation surrounding a potential Rex-Osprey Dogecoin ETF intensifies. The memecoin surged 7% in the past 24 hours, climbing to $0.231, with daily trading volume spiking 123% to $2.6 billion.
Related Reading
According to prediction market Polymarket, the odds of DOGE ETF approval this week stand at 94%. Experts suggest such an approval could mark a turning point for Dogecoin, potentially placing it alongside Bitcoin and Ethereum in the regulated ETF landscape.
Nate Geraci, President of NovaDius Wealth Management, noted on X that the “first Dogecoin ETF appears likely to launch this week,” fueling excitement across the crypto community.
Analysts Eye Higher Targets for Dogecoin (DOGE)
Technical analysts remain optimistic, with Dogecoin currently trading within a long-term logarithmic uptrend.
Chart patterns highlight a broadening wedge, historically linked to explosive rallies. Analysts now point to $1.40 as the next major resistance level, with some forecasts suggesting a move toward $1.50 if ETF-driven momentum holds.
Open interest in DOGE futures has surged 14.5% to $3.81 billion, while options activity has more than tripled. The skew toward bullish positions shows traders’ confidence, though analysts caution that a rejection at resistance could trigger sharp pullbacks.
Despite near-term volatility risks, long-term projections remain bullish. Crypto strategist Javon Marks even suggested DOGE could see an 860% upside, targeting as high as $2.28 in the next major cycle.
DOGE's price trends to the upside on the daily chart. Source: DOGEUSD on Tradingview
Altcoins Join the Rally
Dogecoin’s surge is lifting the broader market, with XRP, Solana (SOL), and Hyperliquid (HYPE) also recording gains.
Optimism is being boosted not only by ETF speculation but also by expectations of a 50 basis point Fed rate cut at the upcoming September 17 meeting. A dovish policy shift could inject fresh liquidity into risk assets, further supporting altcoin momentum.
The Dogecoin ETF, if approved, would represent the first U.S.-listed investment product tied to a meme coin. Such a milestone could expand institutional access, reinforce DOGE’s market leadership, and provide a foundation for its next price breakout.
Related Reading
For now, all eyes remain on regulators. With sentiment strong and technicals flashing bullish signals, the market is watching closely to see if Dogecoin can extend its rally toward the much-anticipated $1.50 milestone.
Cover image from ChatGPT, DOGEUSD chart from Tradingview
Credit: Source link
