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The case for Dogecoin reaching $1 became stronger the moment the first U.S. Dogecoin ETF began trading and exceeded expectations.
The Rex Osprey Doge ETF (DOJE) reached $5.81 million in turnover within the first hour of trading, which is 140% higher than the day-one forecast of Bloomberg analyst Eric Balchunas and almost six times higher than the average for new ETFs over a full session.
For context, it takes many products weeks to reach that level of liquidity, but DOJE did it before lunch.
This came on top of an already noticeable price increase on spot markets.
Dogecoin (DOGE) to the Moon meme is back
Over the last 24 hours, Dogecoin has gained 13.9%, and over the last seven days, it has increased by 38%, taking the coin to $0.2963. This is the highest price since January, and it is only a few cents away from the key $0.30 handle that traders mark as short-term resistance.
Market voices are adding fuel to the fire. Traders such as Unipcs, who turned a $16,000 BONK investment into $13.7 million on paper, argue that most are under-exposed and that the parabolic phase has not yet begun for DOGE.
With ETF liquidity confirmed, institutional wallets buying nine-figure sums of tokens and price levels moving back toward $0.30, the path to $1 DOGE in this cycle appears less like a meme and more like a mathematical certainty, says the top meme coin trader.
500,000,000 DOGE complete picture
On the weekly chart, this also reset the eight-month high, placing DOGE at the top of the large-cap leaderboard, above Solana, XRP and Ethereum in terms of percentage gains over this period.
In the meantime, U.S. company CleanCore Solutions disclosed the accumulation of over 500 million DOGE in the days following its market entry and confirmed plans to increase this figure to one billion DOGE within 30 days.
This equates to almost $300 million at current prices and highlights how corporate wallets are stepping in alongside retail.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team