The cryptocurrency market is standing at the edge of a complete overhaul as it continues to introduce and debut new elements. With President Donald Trump taking charge of the market, the cryptocurrency market is now more active than ever, and bullish elements are being introduced that promote active use cases of the domain. In this wake, Bitwise has recently applied to launch a Dogecoin ETF, giving the token’s rising population in the domain. If the US SEC approves the aforementioned token’s application, it would be a game changer for the domain. Here’s how high this development may compel Dogecoin to rise in the near future.
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Dogecoin ETF May Soon Become A Reality
A new element in the cryptocurrency market is catching pace, with leading tokens being introduced as ETFs. Yesterday, Rex and Osprey submitted applications to launch Doge and XRP ETFs, and now Bitwise has joined the spree to launch a Dogecoin ETF. The firm has already filed for a potential DOGE ETF with the US SEC, taking the market by utter surprise.
Dogecoin is gaining immense momentum due to its strong association with Tesla chief Elon Musk. Musk’s starting to lead the Department of Government Efficiency, known as D.O.G.E, has also credibly bolstered the token’s popularity. In his inaugural session, Musk uttered a surprising phrase stating how he intends to take “DOGE to Mars.” This sentence was met with great ambiguity, helping the token gain more strength.
“We’re gonna take DOGE to Mars!” – Elon Musk pic.twitter.com/aCiNFQBNeo
— Sir Doge of the Coin ⚔️ (@dogeofficialceo) January 20, 2025
In addition to this, Eric Balchunas, senior ETF analyst at Bloomberg, also shared the news on X, adding that this Doge ETF development is truly legitimate, eliminating rumors circulating in the space.
Bitwise Doge ETF likely coming soon.. and yes I checked and this is def legit (vs some whack job committing forgery for a quick pump a la BlackRock XRP that one time). pic.twitter.com/MxoswD0IFy
— Eric Balchunas (@EricBalchunas) January 22, 2025
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AI Predicts Token’s Price If SEC Approves The ETF
Per AI, if the SEC approves a Dogecoin ETF in the near future, this development may push Dogecoin’s price to hit $0.50 in the short-term surge.
The portal later adds how sustained inflows in the DOGE ETF may later push the token to hit $0.75-$1.
The long-term potential of the aforementioned ETF could imply Doge hitting $1.50 if the ETF manages to establish credibility in the long haul.
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