DOGE’s Ascent: From Meme Coin to Mainstream Investment
Dogecoin (DOGE) is shedding its meme coin image as institutional interest grows, highlighted by 21Shares’ recent ETF filing with the SEC. This move signals a potential shift towards mainstream acceptance, with the asset manager presenting a bullish outlook on DOGE’s future price trajectories.
21Shares Turns Bullish on Dogecoin Following ETF Filing, Signaling Shift from Meme to Mainstream
Dogecoin (DOGE), once relegated to meme coin status, is gaining institutional credibility as 21Shares files for a US ETF. The asset manager’s report outlines three potential price trajectories, with a clear bullish bias, framing Doge as a legitimate portfolio asset.
The filing with the SEC marks a pivotal moment for the cryptocurrency, which began as a lighthearted digital asset. 21Shares’ analysis suggests Dogecoin’s utility and community support may drive long-term value beyond its internet culture origins.
Dogecoin Price Forecast: DOGE Spot ETF Hype Sparks Breakout Hopes
Dogecoin consolidates NEAR the 50-day EMA at $0.18 as speculative fervor builds around potential spot ETF approvals. The meme coin’s derivatives open interest climbed 2.17% to $1.85 billion, with liquidated shorts adding fuel to bullish momentum.
On-chain metrics suggest growing accumulation, though the 50-day EMA at $0.179 remains critical support. A breakdown could retest April’s $0.13 low, while sustained ETF speculation may propel DOGE toward its Q1 highs.
Dogecoin Whales Accumulate 100 Million DOGE in Buying Spree
Dogecoin whales have aggressively expanded their holdings, scooping up 100 million DOGE over the past week. On-chain data from Santiment reveals a notable surge in supply distribution among large holders, signaling potential bullish momentum for the meme coin.
Analyst Ali Martinez highlighted the trend in a recent post, emphasizing the significance of whale accumulation. The move aligns with broader market Optimism as institutional and large-scale investors increasingly dominate Dogecoin’s liquidity landscape.
