DOGE ETF Launch Could Trigger a Massive Influx of Fresh Capital For DOGE Price to Hit New ATH of $1.40
- DOGE ETF could trigger a massive influx of fresh capital.
- This move could propel the price of DOGE to hit a new ATH at $1.40.
- The price of DOGE could even go as high as $10 this bull cycle.
Last week, the DOGE ETF received final approval to launch, and all necessary steps are in place for the highly anticipated event to take place this week. Analysts believe that the DOGE ETF launch could trigger a massive influx of fresh capital for the price of DOGE to hit a new ATH of $1.40 in the coming days ahead. This could be a huge milestone that could change the trajectory of the pioneer memecoin Dogecoin in the crypto market.
DOGE ETF Launch Could Trigger a Massive Influx of Fresh Capital
The pioneer memecoin Dogecoin (DOGE) has come a long way since its debut in the crypto market, and has single-handedly created the memecoin market. Dogecoin’s journey was a hard one, as the asset began as a joke coin, which the creator launched as a parody of the new and misunderstood crypto market. Instead, DOGE went on to represent the people, allowing the community to use DOGE for daily transactions.
Eventually, DOGE became a community token and helped improve many lives across the world. To highlight, the DOGE community gathered enough funds to send underfunded Winter Olympic athletes to the games. The project also helped bring safe drinking water by funding wells in arid parts of Africa. Soon, Dogecoin was seen as more of an altcoin than a joke coin and won the hearts of several blockchain leaders.
Plagued by the overturn of his own creator, the creator of Dogecoin abandoned the project, only for it to be picked up by crypto leaders, including Vitalik Buterin, who worked with a team of experts to revive Dogecoin and have it run as a promising blockchain. DOGE also became Elon Musk’s favorite crypto asset. So much so that his fondness for the token led to significant DOGE price pumps whenever he made a comment about the project.
Despite all this attention, the price of DOGE never made it to $1 in value. At the moment, according to CoinMarketCap analytics, the price of DOGE is trading at $0.27, showing that the price of DOGE is up by 20% over the last 7 days. It is also just over a 60% pump away from its previous ATH price set at $0.737 4 years ago. Based on the post above, the analysts believe that the most significant resistance barrier ahead of DOGE is $0.355.
DOGE Price Could Hit a New ATH of $1.40 Soon
The post above highlights how DOGE is now popular enough to receive approval for DOGE ETFs, set to launch this week. Marking the launch of the first-ever memecoin ETF, the price of DOGE is poised to experience a massive influx of fresh capital, which could propel the price of DOGE to hit much higher ATH prices, starting with its first bull target set in the $1.40 price range.
