dogecoin $0.332329 Its price is up almost 5% today after recent choppy trading. While investors closely followed the performance of the meme coin, comments made by some market experts about the DOGE ETF fueled speculation. Many are anticipating a potential ETF launch in 2025.
Donald Trump’s Election and Market Sentiment
This year, Donald Trump’s election victory had a positive impact on market sentiment. The expectation that there will be cryptocurrency-friendly developments under the Republican administration has increased the interest in other meme coins in the market, especially Dogecoin.
Experts note that the approval of the Dogecoin ETF could have a positive impact on the price. While ETF Store President Nate Geraci is surprised that an application for a DOGE ETF has not been made yet, Bloomberg ETF analyst Eric Balchunas predicts that the application could be made by the end of 2025.
Dogecoin has increased from $0.15 to $0.3363, an increase of 125% since November. Cryptocurrency, which recorded the 24-hour highest level at $0.3394, shows that investor confidence is increasing.
According to CoinGlass data, open interest in DOGE futures increased by 6% to $2.16 billion. This indicates that there is an optimistic atmosphere in the market. Additionally, it is observed that large investors accumulate Dogecoin.
“DOGE whales have accumulated approximately 270 million coins in recent days. “This situation increases market optimism.” -Ali Martinez.
Citing Dogecoin’s past trends, Martinez predicts that if history repeats itself, the cryptocurrency will rise well above $1. Such predictions support expectations that DOGE’s ETF launch is ahead of us.
General Situation in Meme Coins
Besides Dogecoin, other popular meme coins such as SHIB, PEPE and BONK also gained value today. This shows that interest in the meme coin segment in general is increasing.
As a result, a potential ETF launch of Dogecoin and increased investor interest could lead to a positive movement in its price. It may be beneficial for investors to closely follow the developments in the cryptocurrency market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
