The price of Dogecoin has increased by 2.3 % over the past 24 hours to violate the resistance of $ 0.17 amid renewable optimism about Bitcoin ETF flows.
With ETFS Bitcoin marketing more than $ 40 billion of management assets since approval, speculation is escalating about what possible ETF DOGECOIN may mean if Doge picks up 30 % to only 50 % of ETF BTC flows.
Dogecoin (Doge) indicates a week of climbing with a rise of $ 0.17
Dogecoin (DOGE) has increased by 2.3 % in the past 24 hours to trade at $ 0.173, where possible speculation about ETF has been honored after the official deposit on the Nasdaq Stock Exchange to list 21Shares Dogecoin ETF.
According to Coingecko, DOGE increased by 5.0 % over the past week, outperforing Bitcoin’s profit by 1.1 % and ETHEREUM rising by 2.1 % during the same period.
The trading volume remains high as traders expect an upward outbreak above the resistance level of $ 0.18. Doug’s 14 -day performance occupies 11.9 % of the top across the 20 best encrypted currencies, which reflects a positive momentum after delaying it during the broader April Rally.
21 Shares Doge Etf can provoke billions in flows
On April 30, Nasdak A presented 19B-4 file To the US Securities and Stock Exchange Committee (SEC) seeks to obtain approval to list and trade stocks in 21shares Dogecoin ETF.
This was followed by the registration of the S-P10 asset manager on April 10, in partnership with House of Doge, the arm of Dogecoin Foundation.
The Fund will follow the USS DOGE-DOLLLAR settlement index, and DOGE maintains directly-without using leverage, derivatives or artificial products. Coinbase Custody Trust was named as the official guardian.
This deposit reaches a few days after the Supreme Education Council delay its decision regarding Altcoin ETF applications to June 15. While Doge ETF has not been approved, market monitors are already speculative of the potential impact.
DOGECOIN price predictions if it gets 30 % – 50 % of Bitcoin ETF flows
Since its launch in January, ETFS in the United States of America has absorbed more than $ 40 billion in net flow, according to the latest execution data from Farside.
If Doge ETF picks up to 30 % to 50 % of this number, the potential flow may range between $ 12 billion to $ 20 billion.
In current market conditions, Dogecoin has a maximum of $ 24 billion. The injection of $ 12 billion to $ 20 billion can exceed twice the total market value, assuming similar trading dynamics and pressure pressure such as BTC.
This means the goal of the theoretical theoretical price between:
Such an increase reflects 95 % to 190 % of the current Doug’s prices.
What is the following: The SEC decision and market effects
With the SEC deadline on June 15 for the DOGE ETF application from BitWise and 21 Shares Doge ETF from Nasdak, traders and institutions will closely monitor.
If either ETF approval, DOGE can quickly move from MEME assets to an organized financial tool, open access to institutional capital, retirement accounts, and RIA’s RIA portfolios.
ETF flow data from April shows that the Bitcoin’s investment funds recently set new records for one -day flow 936.5 million dollars on April 22 alone, followed by $ 917 million on April 23.
Dogoin ETF flows, if approved, are likely to follow a similar path with Bitcoin. The enthusiasts suggest that ETF DOGECOIN flows can exceed expectations due to the condition of a pop culture, high retail sharing, and wide exchange.
If Dogecoin ETF flows reach a small part of ETF Bitcoin levels, DOGE may trade between $ 0.34 and $ 0.50 in the medium term.
The ruling on approval from the Supreme Education Council will not be just a bullish incentive in the short term for the work of Doge PRICE, but it may also enhance the adoption of Memecoin in traditional financing.
Related questions (common questions)
The price of DOGECOIN increased by 2.3 % due to speculation about 21shares Doge ETF and strong Bitcoin power flows
It is a proposed exchange box in exchange that will be kept directly, with Coinbase nursery as its official guardian.
If Doge picks up 30 % -50 % of ETF Bitcoin flows, its price may rise between $ 0.34 and $ 0.50.
Ibrahim
The encryption analyst that covers the derivative markets, macro trends, technical analysis and Defi. His business is characterized by in -depth market visions, price expectations and institutional research on digital assets.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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