Dogecoin Surges 7% as 21Shares Files for Spot ETF Approval
Dogecoin (DOGE) Price Surge
- Dogecoin's price increased by over 7% in the last 24 hours, outperforming the overall crypto market's 4% rise.
- DOGE is trading near $0.20, with a market cap reaching $30.4 billion.
- Trading volume surged by 95%, indicating strong investor interest.
21Shares Dogecoin ETF Developments
- 21Shares filed an amended S-1 registration for its spot Dogecoin ETF, confirming "TDOG" as the ticker.
- The ETF will list on Nasdaq once approved, with Coinbase as the custodian.
- A total of $1.5 million will be used to purchase Dogecoin upon listing.
- Approval odds for Dogecoin ETFs have risen to 99%, according to Bloomberg analysts.
- The SEC missed its deadline to approve the Grayscale Dogecoin ETF due to a US government shutdown.
Market Analysis and Projections
- Dogecoin has been trading in an ascending parallel channel since mid-2022.
- Analyst Ali Martinez sees potential price targets at $0.29, $0.45, and $0.86 if momentum continues.
- Elite Crypto identified a cup-and-handle pattern on DOGE’s chart, suggesting levels below $0.155 are strong buying opportunities.
The meme token shows signs of an extended bullish phase, with some investors targeting the $1 price level for DOGE.