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Dogecoin ETF Anticipation and Whale Activity May Boost Prices
- Dogecoin's price has retracted after previously reaching $0.3 due to increased sell-offs and the recent Fed rate cut having minimal impact on the market.
- Crypto analysts foresee potential recovery and rally for Dogecoin as a new week begins, fueled by upcoming altcoin ETFs.
- The anticipation around a Dogecoin ETF, specifically the REX-Osprey Dogecoin ETF (DOJE), is growing. A positive decision from the SEC could trigger significant price increases.
- There is speculation that Dogecoin's price could rise by up to 75%, with some predictions suggesting it might double.
- Dogecoin whales have purchased and withdrawn approximately $266 million worth of DOGE, reducing exchange liquidity and potentially boosting demand.
- Technically, Dogecoin is near a key Fibonacci level. Maintaining support above $0.24 could result in an 18% price increase, targeting $0.315.
- Grayscale has filed with the SEC to convert its Dogecoin Trust into a full ETF, which lists Coinbase as custodian, potentially competing with the REX-Osprey ETF.
