Widely followed market commentator Ali Martinez boldly predicts that a Dogecoin ETF could send the meme coin’s price to double digits.
Notably, discussions about the potential arrival of a Dogecoin ETF have gained traction within the crypto community this week.
Latest Filings for Dogecoin ETF
In particular, momentum picked up after a filing for a Dogecoin ETF with Delaware’s Department of State’s Division of Corporations surfaced. Notably, the submission came from billion-dollar asset manager Bitwise.
Interestingly, Bitwise’s Chief Investment Officer, Matt Hougan, confirmed the authenticity of the development. When asked about the submission, Hougan stated, “This was from us.”
For some time, many believed it was only a matter of time before an asset manager filed for a Dogecoin ETF.
Earlier this month, Nate Gercai, President of the ETF Store, expressed surprise that no issuer had pursued such a filing, considering Dogecoin is the seventh-largest digital asset by market cap.
He suggested that, at worst, it would only serve as a marketing expense for the issuer. At best, it could attract a favorable response from the SEC, with added promotion from DOGE Father Elon Musk.
Last week, liquidity provider Wintermute predicted that an asset manager would file for a Dogecoin ETF in 2025—a forecast that is now coming to fruition. Meanwhile, Bitwise is not the only asset manager that has shown interest in a Dogecoin ETF. A similar filing has surfaced from Teucrium.
Dogecoin Price Reacts
Notably, the news of the Dogecoin ETF contributed to an initial boost in Dogecoin’s price this week. The price reached $0.4002 on Tuesday but has since dipped to $0.3492 at press time.
Dogecoin 4,185% Surge to $15 with ETF Launch
While Dogecoin’s price fluctuated amid the ETF filings, market commentators like Ali Martinez believe that the eventual launch of the investment fund would provide the necessary boost to push Dogecoin’s price to unprecedented heights.
In particular, Martinez is targeting a wave that could drive Dogecoin’s price up by 4,185%, reaching $15 this season. For context, at this price, Dogecoin would have an astronomical market cap of over $2.2 trillion, which would surpass Bitcoin’s current valuation.
#Dogecoin $DOGE ETF will send it to $15! https://t.co/4peKi93NZX pic.twitter.com/gRqDdoXhob
— Ali (@ali_charts) January 22, 2025
Martinez is not alone in forecasting a major price swing for Dogecoin based on ETF catalysts. Other analysts, such as Dima James Potts, have expressed similar sentiments, predicting a more substantial 55X surge for Dogecoin to above $20.
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