search
Homeweb3.0How High Could Dogecoin Price Climb with a DOGE ETF Approval?

If a Dogecoin (DOGE) ETF were approved, it would affect the positively price of DOGE since ETFs are considered less risky compared to normal crypto assets and stocks.

How High Could Dogecoin Price Climb with a DOGE ETF Approval?

The approval of a DOGE Exchange-Traded Fund (ETF) could have a significant impact on the price of Dogecoin (DOGE). ETFs are generally perceived as less risky compared to directly holding crypto assets or stocks. As a result, traditional investors seeking exposure to DOGE without navigating the market volatility may opt to invest in a DOGE ETF. This could lead to a surge in demand for DOGE, potentially pushing its price to new highs.

However, it's important to note that the approval of a DOGE ETF may not guarantee a straightforward price increase. To better understand how DOGE's price might perform, we can examine the performance of the only two existing crypto ETFs: the spot Bitcoin ETF and the spot Ethereum ETF.

When these two ETFs were approved on January 10 and July 23, respectively, it was largely a "sell-the-news" event, with most having bought the rumor leading up to the approval. While Bitcoin later regained momentum and made a new all-time high in the following two months, Ethereum has consistently lost ground since its ETF began trading.

Hence, DOGE's price may follow a trajectory similar to either of these two assets in the event of an ETF approval. However, considering that DOGE falls under a unique category (meme coin), the impact could be exponentially greater. Meme coins are typically known to experience explosive price surges, often reaching thousands of percent gains, compared to a few hundred percent for utility coins.

DOGE's Price Scenario If A Dogecoin ETF Were Approved

Dogecoin is currently the 9th largest crypto asset by market cap, with $1.5 billion in trading volume, which is 5.11% of Bitcoin's total daily trading volume ($30 billion), according to CoinGecko.

5.11% of the total Bitcoin ETF volume ($21.15 billion) is around $1.08 billion. Given the current price and market cap, it would take roughly $200 million in trading volume to push the Dogecoin price up by just 1%, as per our calculations.

The above is the detailed content of How High Could Dogecoin Price Climb with a DOGE ETF Approval?. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Neiro, the Meme Coin Inspired by Atsuko Sato's New Dog, Raises Question MarksNeiro, the Meme Coin Inspired by Atsuko Sato's New Dog, Raises Question MarksJul 30, 2024 am 03:20 AM

As you've been following on Kriptokoin.com, meme coin projects are gaining a lot of traction in the crypto world, despite being risky.

Neiro (NEIRO) Token Skyrockets to $100 Million Market Cap, Aims to Be the Next DogecoinNeiro (NEIRO) Token Skyrockets to $100 Million Market Cap, Aims to Be the Next DogecoinAug 01, 2024 am 03:10 AM

The crypto community might be set to witness the birth of the next Dogecoin following a recent announcement made by the beloved Kabosu's owner.

Dogecoin (DOGE) Price Prediction: CHances of a Breakout and Trend Reversal Are Under Threat as the Bears Dominate the Falling WedgeDogecoin (DOGE) Price Prediction: CHances of a Breakout and Trend Reversal Are Under Threat as the Bears Dominate the Falling WedgeJul 30, 2024 pm 06:51 PM

With a major rejection in Bitcoin from the $70K mark, the broader market sentiment is at risk. Amidst the growing supply, the meme coins are at a crossroads

Elon Musk Still Believes "There Is Merit" in Bitcoin and Some Other Cryptos, but Has No Plans to Promote ThemElon Musk Still Believes "There Is Merit" in Bitcoin and Some Other Cryptos, but Has No Plans to Promote ThemJul 30, 2024 am 09:21 AM

The highly-awaited Bitcoin 2024 Conference came and went by without Tesla/SpaceX CEO Elon Musk making an appearance alongside former President Donald Trump

Dogecoin (DOGE) Large Transaction Volume Spikes 29.27% to $1.1B, Network Activity JumpsDogecoin (DOGE) Large Transaction Volume Spikes 29.27% to $1.1B, Network Activity JumpsJul 29, 2024 am 03:54 AM

According to IntoTheBlock data, dog-themed cryptocurrency Dogecoin (DOGE) is reporting a staggering $1.1 billion in large transaction volume

Memecoins Return to the Spotlight: Dogecoin (DOGE) Eyes $0.5, Shiba Inu (SHIB) Gears Up For a 2x JumpMemecoins Return to the Spotlight: Dogecoin (DOGE) Eyes $0.5, Shiba Inu (SHIB) Gears Up For a 2x JumpAug 01, 2024 am 03:36 AM

Memecoins, a popular, if not the most widely known, crypto narrative, returns to the spotlight. Dogecoin (DOGE) and Shiba Inu (SHIB), the top memecoins and dog-themed cryptocurrencies, gather momentum for their next bull leg.

Dogecoin And Shiba Inu Whale Transactions Rise As Crypto Whales Make Moves In Meme CoinsDogecoin And Shiba Inu Whale Transactions Rise As Crypto Whales Make Moves In Meme CoinsJul 25, 2024 pm 02:40 PM

As the market retraces from its weekend surge, Crypto whales are beginning to make moves in meme coins such as Dogecoin and Shiba Inu once again.

Dogecoin (DOGE) Outlook Is Bullish As A Golden Cross Is Set To Appear On The Meme Coin’s ChartDogecoin (DOGE) Outlook Is Bullish As A Golden Cross Is Set To Appear On The Meme Coin’s ChartJul 26, 2024 pm 03:57 PM

Based on history, such development could mark the beginning of a massive rally for DOGE.

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

Hot Tools

WebStorm Mac version

WebStorm Mac version

Useful JavaScript development tools

DVWA

DVWA

Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver Mac version

Dreamweaver Mac version

Visual web development tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor