Dogecoin News Today: ETF Hope Fuels DOGE's $2.28 Ascent as Bull Market Gears Up

Dogecoin has experienced a notable surge in recent trading sessions, with price increases and rising trading volumes signaling renewed interest in the altcoin market. As of the latest data, Dogecoin (DOGE) is trading at approximately $0.231 after a 7% rise over the past 24 hours, with daily trading volumes increasing by 125% to $2.6 billion, according to CoinGecko and Coingape. This surge follows the announcement of an upcoming Dogecoin exchange-traded fund (ETF) by REX Shares, which has generated optimism among investors. Nate Geraci, President of NovaDius Wealth Management, stated in a recent tweet that the first Dogecoin ETF appears likely to launch this week, potentially triggering a broader rally in the crypto market over the next two months. Meanwhile, the Polymarket platform indicates a 94% probability of approval for a Dogecoin ETF, further fueling market expectations for a favorable regulatory environment.

The broader altcoin market has also shown signs of strength, with assets such as XRP, Solana, and Hyperliquid experiencing modest gains. Stephen Gregory, founder of Vtrader, attributed the recent movement to an “overreaction” to the U.S. unemployment figures released on Friday, which contributed to an overall positive sentiment in both the crypto and equity markets. Gregory noted that an “alt-season is brewing” despite recent sell-offs, with the historically bearish third quarter potentially serving as a “fun setup” into the year-end. Additionally, analysts expect a bullish fourth quarter if macroeconomic conditions improve, with the anticipation of Federal Reserve rate cuts contributing to a more favorable environment for altcoins.

Technical indicators and analyst predictions provide further insight into the potential trajectory of Dogecoin. Bitcoinconsensus, a cryptocurrency analyst on X, highlighted that Dogecoin’s price chart has formed a broadening wedge pattern, with each upward move showing stronger gains than the previous rally. The analyst projected a potential price target of $1.40 for DOGE, suggesting that the token could experience a 740% rally within the current bull cycle. Another analyst, Javon Marks, echoed a similar sentiment, suggesting that Dogecoin could surpass $2.28, representing an 860% increase from current levels. These predictions are based on historical performance and the belief that the token is positioned for a breakout.

However, some caution is advised as market dynamics remain uncertain. While the altcoin market shows strength, Dogecoin faces challenges in maintaining its upward momentum. The Relative Strength Index (RSI) for DOGE currently sits at 65, indicating moderate buying pressure but not an overbought condition. This suggests that while the token may continue its bullish trend, further consolidation or volatility is likely before a significant breakout occurs. Additionally, the MVRV ratio—used to assess whether a cryptocurrency is undervalued or overvalued—currently reads at zero for Dogecoin, indicating that a bottoming process may be underway. If this trend continues, it could signal an upcoming price recovery or a substantial rally.

The broader macroeconomic landscape also plays a role in shaping market expectations. With the U.S. Federal Reserve in a difficult position due to conflicting priorities—price stability and maximum employment—investor sentiment remains cautious. Recent weak jobs data and core inflation hovering above 3% have added uncertainty to the market. However, the expectation of a potential 50 basis points rate cut at the September 17 FOMC meeting has contributed to a more optimistic outlook for altcoins. Analysts suggest that a shift in monetary policy could lead to a new infusion of liquidity into the market, potentially setting the stage for the next altcoin season.

As the market continues to evolve, the focus remains on both regulatory developments and technical fundamentals. The anticipated launch of the Rex-Osprey Dogecoin ETF represents a critical milestone that could attract new institutional and retail investors to the asset. At the same time, analysts remain divided on the long-term sustainability of the rally, with some emphasizing the token’s growing real-world utility and adoption, such as its acceptance as a payment method at major retailers like AMC and Tesla. If these trends continue, Dogecoin could see further growth, particularly if it aligns with the broader movement of Bitcoin and other leading cryptocurrencies in the coming months.

Source: [1] Dogecoin Leads Altcoin Rally as XRP, Tron and Solana Rise (https://finance.yahoo.com/news/dogecoin-leads-altcoin-rally-xrp-030255384.html) [2] Dogecoin Leads Altcoin Market Rally Amid DOGE ETF (https://coingape.com/dogecoin-leads-altcoin-market-rally-amid-doge-etf-optimism/) [3] Dogecoin Rally Gathers Steam, Exponential Gains Point to $1.40 (https://cryptorank.io/news/feed/048d4-dogecoin-rally-gathers-steam-exponential-gains-point-to-1-40) [4] Sui Price Targets $4 as Dogecoin Faces Bearish Trends (https://intellectia.ai/news/crypto/sui-price-eyes-4-and-dogecoin-goes-bearish-while-blockdags-miners-signal-huge-profit-potential) [5] Dogecoin (DOGE) Could 'easily' 10x Your Investment in 2025 (https://bravenewcoin.com/insights/dogecoin-doge-could-easily-10x-your-investment-in-2025-heres-why) [6] Dogecoin Price Prediction: Is DOGE Heading To $1 (https://www.mitrade.com/au/insights/news/live-news/article-3-1102413-20250908)