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Dogecoin Surges 9% As Dogecoin ETF Launch Nears
Dogecoin (CRYPTO: DOGE) has surged above 23 cents as anticipation builds around the launch of the first Dogecoin ETF this week.
Trader Notes: Prominent analyst Kevin highlighted Dogecoin's monthly stochastic RSI crossovers, which have historically signaled clear moves in both bull and bear markets.
He stressed that continuation hinges on macro factors such as Fed policy, inflation, and labor data.
Crypto chart analyst Ali Martinez pointed to the TD Sequential flashing a sell signal, warning of a potential short-term retracement if DOGE fails to hold key support.
Javon Marks drew on historical cycle data, suggesting DOGE could surge from ~$0.23 to $2.28+ (an 860% gain) if past bull cycles repeat and macro conditions remain favorable.
Memecoin ETF era kicks off with Dogecoin fund that’s ‘useless by design’
Wall Street is about to package a joke into an exchange-traded fund â and charge 1.5% for the privilege.
The REX-Osprey DOGE ETF launches Thursday as the USâs first fund dedicated to Dogecoin, the memecoin created in 2013 as satire that now commands a staggering $57 billion market value.
Trading under the ticker DOJE, it marks a somewhat surreal milestone: institutional products for assets that proudly serve no purpose.
And funds are charging up to six times more than for most Bitcoin ETFs, suggesting investors are willing to pay a hefty premium for a self-described parody cryptocurrency.
âPretty sure this is the first-ever US ETF to hold something that has no utility on purpose,â Eric Balchunas, Bloomberg Intelligence ETF analyst, wrote on X on Tuesday.
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