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Dogecoin (DOGE), the king of the meme coins, is generating huge buzz in the cryptocurrency space as community members anticipate big news. The frenzy is about the REX-Osprey DOGE ETF, with a ticker symbol of DOJE that is expected to launch on Sept. 11.
DOGE price targets $0.2680 resistance amid ETF buzz
The hype about this launch has triggered movement and price gains for Dogecoin on the market, with the asset climbing by over 15.59% in the last seven days. Notably, a DOGE ETF will broaden access to the meme coin by both retail and institutional investors.
Such a development could lead to increased adoption and upward price movement. The adoption will stem from the increased exposure of the meme coin to individuals and institutions that prefer not to directly hold the asset.
Market watchers expect a successful launch to impact the value of DOGE. As of press time, Dogecoin is trading at $0.2494, representing a 3.35% uptick in the last 24 hours. As launch hour approaches, DOGE has been on an upward trajectory and hit an intraday peak of $0.253 in earlier trading.
Traders are now looking forward to the next resistance level at $0.2680. However, a major hurdle to breaching the next resistance is the low trading volume. Currently, this metric remains in the red zone, down by 11.22% to $3.24 billion.
Can Dogecoin flip $0.50?
With the current exchange-traded fund hype, it could help push volume into the green zone. If Dogecoin’s volume records a spike coupled with the increased exposure the ETF would bring, the meme coin might be on a journey to $0.50.
Worthy of mention is that the last time Dogecoin soared close to that level was in early December 2024, when it changed hands for $0.4672. Meanwhile, the asset’s all-time high (ATH) stands at $0.7376, attained over four years ago in May of 2021.
Dogecoin holders and market participants alike are keenly watching to see if the king of the meme coins will perform well, like Bitcoin, when its ETF launches.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team