Introduction to Dogecoin’s Price Rally
Dogecoin’s price is experiencing a significant rally ahead of the anticipated launch of the Rex-Osprey Spot DOGE ETF in the U.S. This development has sparked considerable interest and speculation among traders and investors.
The Expected ETF Launch
The U.S. Securities and Exchange Commission is expected to approve the Rex-Osprey Spot Dogecoin ETF (DOJE) this week, with a possible decision as early as September 9. According to ETF Store president Nate Geraci, the SEC has a fallback window through September 13 to make the decision.
Market Sentiment and Probability
Market sentiment regarding the ETF approval is high, with Polymarket traders assigning a 91% probability to a Dogecoin ETF approval in 2025. This optimism is reflected in Dogecoin’s price, which rose 5% to a daily high of $0.2471 before stabilizing at $0.2465.
The Potential for Growth
The approval of the ETF could significantly impact Dogecoin’s perception among traditional traders, who have often viewed it as a joke investment. However, with an active community and a decentralized ecosystem, Dogecoin may become more attractive to traders. Crypto analyst XForceGlobal believes that the DOGE price charts point to a “textbook 5-wave move” since inception, with a potential “realistic” target around $1.
Risks and Uncertainties
Despite the optimism, REX has warned investors of substantial risks associated with Dogecoin investments in its filing for the DOGE ETF. The company noted that Dogecoin’s price is subject to “rapid price swings, changes, and uncertainty.” This cautionary note highlights the importance of careful consideration and thorough research before investing in Dogecoin or any other cryptocurrency.
The Road to $1
While reaching $1 may seem ambitious, the approval of the ETF and the resulting shift in perception could contribute to a significant price increase. As the market continues to speculate about the ETF approval, Dogecoin’s price may experience further fluctuations. For now, traders and investors are watching closely, awaiting the SEC’s decision and its potential impact on the cryptocurrency market, which can be followed on platforms like bitpulse.