Dogecoin’s $10 Dream Alive? 21Shares ETF Filing Sparks Meme Coin Rally Hopes
Wall Street’s latest crypto flirtation—a Dogecoin ETF—just got real. 21Shares’ filing with the SEC sends a clear signal: meme coins aren’t just for Reddit threads anymore.
Here’s why this matters beyond the usual ‘institutional adoption’ buzzwords.
The ETF Effect: More Than Just Legitimacy
Traditional finance hates admitting Dogecoin exists. But when a heavyweight like 21Shares jumps in? Suddenly, that joke about buying DOGE ‘for the memes’ looks like a prescient investment strategy.
$10 or Bust: The Math Behind the Madness
A tenfold surge would require DOGE’s market cap to balloon past $140 billion—putting it uncomfortably close to Ethereum’s current valuation. Risky? Absolutely. Impossible? Tell that to 2021’s DOGE millionaires.
The Cynic’s Corner
Let’s be honest: this reeks of desperation. With Bitcoin ETFs already old news, asset managers are now scraping the crypto barrel for the next ‘narrative.’ Nothing screams ‘top signal’ like suits trying to monetize memes.
One thing’s certain—if this ETF gets approved, the ensuing volatility will make GameStop look like a savings bond. Buckle up.
Dogecoin ETFs Might Be Coming To Wall Street Soon
On Tuesday, Nasdaq submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC), formally seeking approval to list and trade the 21Shares Dogecoin ETF. This submission builds upon 21Shares’ earlier S-1 registration, which not only laid out the structure of the proposed ETF but also revealed an “exclusive” partnership with the House of Doge.
Although the ETF cannot be launched without final approval from the SEC, Nasdaq’s 19b-4 filing marks a critical milestone in the regulatory process. It represents the second and final formal step required to propose a spot cryptocurrency ETF for review. Once the SEC acknowledges the filing, it will be published in the Federal Register, and the official review period will commence, during which the agency will consider whether to approve, reject, or delay the decision.
This ETF, if given the green light, would allow institutional investors to gain exposure to Doge through a regulated financial product, thereby opening up the meme coin to large capital flows.
DOGE At $10: This Might Not Be So Far-Fetched Anymore
For Dogecoin to reach $10, it would require a massive expansion in its market capitalization, an outcome that once seemed entirely out of reach. Dogecoin has been the subject of various technical analyses of price rallies, with targets even exceeding $10. Now, a growing momentum around a spot Dogecoin ETF and rising institutional interest provide a strong backing.
One of the strongest indicators that such a leap is not impossible lies in the precedent set by Bitcoin. When the Spot Bitcoin ETFS were finally approved in early 2024, they triggered a surge of capital inflows from both institutional and retail investors. Dogecoin, the king of meme coins, is now positioned to follow a similar route. Although the $10 may not happen overnight, the path to this target is becoming clearer with developments like this Nasdaq ETF filing.
The SEC is currently reviewing multiple filings related to the listing of Spot Dogecoin ETFS, with funds such as Bitwise also awaiting approval. In total, there are about 70 applications for crypto ETFs currently being reviewed by the SEC. According to analysts at Bloomberg, there is a 75% chance of approval of a DOGE ETF in 2025.
At the time of writing, Dogecoin is trading at $0.174.
