"Dogecoin Surge Predicted: ETF Approval and Binance CEO's Pet Dog Inspire Bullish Run"

Analysts are predicting a significant rally in Dogecoin's price, with some forecasting a potential surge to $4. This optimism is driven by speculation surrounding the possible approval of a Dogecoin ETF and the potential launch of a new memecoin inspired by Binance CEO Changpeng Zhao's pet dog.

The global crypto market has seen a significant increase, reaching $3.18 trillion, with a 2.84% growth. This growth has sparked excitement among the crypto community, with all eyes on Dogecoin (DOGE) to see if it can bring substantial profits. The Dogecoin price is currently hovering around the $0.25 level, but analysts remain confident about the memecoin's further upward push.

Crypto content creator Trader Tardigrade has predicted a bullish target of $4 for Dogecoin's price. The analyst shared an X post, asserting that DOGE's Price Momentum Oscillator (PMO) indicates an imminent price surge. Meanwhile, analyst Crypto Tony stated that DOGE's upward rally is "only a matter of time." Drawing on historical trends, Crypto Tony predicted that if DOGE crosses the crucial $0.350 support level, the Dogecoin price could be poised for new all-time highs.

In a recent development, NYSE Arca submitted a 19b-4 form to the Securities and Exchange Commission (SEC) to list and trade Grayscale's spot Dogecoin ETF. This move followed Grayscale's launch of Grayscale Dogecoin Trust on the same day. NYSE Arca stated that DOGE can be used to pay for goods and services or converted to fiat currencies, and it is also used to pay for transaction fees to miners for verifying transactions on the Dogecoin Network.

Bloomberg analysts James Seyffart and Eric Balchunas released an ETF prediction chart detailing the SEC's possible actions on altcoin ETFs. Seyffart stated that the SEC could acknowledge the spot ETF filings for XRP and DOGE within days, fueling speculations of an imminent DOGE ETF approval. The analysts estimate a 75% chance of a Dogecoin ETF approval, which in turn sparked excitement on DOGE's possible price movements.

Expectations of a Dogecoin price surge have also been fueled by Changp