DOGE to the Moon: How Will ETFs Affect DOGE Price?

The Dogecoin ecosystem has witnessed a massive influx of new investors after the first-ever U.S. Dogecoin exchange-traded fund (ETF) officially commenced trading last week.

The product opened to remarkable demand, recording $6 million in trading volume within its first hour — a figure 140% higher than Bloomberg analyst Eric Balchunas’ day-one forecast and nearly six times greater than the average volume for new ETFs over an entire session.

$DOGE ETF: first results

The strong debut of the Rex-Osprey $DOGE ETF has sparked intense discussion across the crypto community and fueled optimism about a significant Dogecoin price rally in the near term.

Balchunas had initially projected a modest $2.5 million for the ETF’s entire first trading day, but the product has far surpassed those expectations.

This performance places Dogecoin among the most successful crypto-based investment products launched to date, outpacing many earlier ETFs that struggled to surpass $1 million in day-one volume.

Momentum around Dogecoin continues to build as the 21Shares spot-based $DOGE ETF proposal was recently listed on the Depository Trust & Clearing Corporation (DTCC), signaling potential for additional market adoption.

Meanwhile, the U.S. SEC is reviewing further Dogecoin ETF applications from Grayscale and Bitwise, with a final decision expected on October 17. The success of the first $DOGE ETF has likely improved the odds of approval for these upcoming filings.

Dogecoin price prediction

Dogecoin’s price responded positively to the news, climbing 5.12% in the first 24 hours to $0.28 and extending a two-day rally to reach an intraday high of $0.285 on September 18.

This week, the token was consolidating above its breakout zone, with traders eyeing resistance levels at $0.39 and $0.43-$0.45. However, a fierce correction followed, with $DOGE price hotting the floor at $0.22.

Historically, Dogecoin has shown a tendency to surge quickly once key resistances flip into support, suggesting further upside could be on the horizon as retail demand accelerates.

Should Dogecoin reclaim $0.45, it would return to price levels last seen at the end of 2021. This time, however, the move would come off a much stronger base near $0.20-$0.25, giving the rally a more sustainable structure.

With ETF liquidity confirmed, institutional wallets reportedly accumulating nine-figure sums, and price levels approaching $0.30, top meme coin traders argue that the path to $1 $DOGE is becoming more likely in this market cycle.