- SEC acknowledged Nasdaq’s filing for 21Shares US Dogecoin ETF, starting the official review period.
- Dogecoin futures open interest surged 70% to $1.65 billion, signaling rising speculative interest.
- DOGE price at $0.2343 with a $34.98B market cap; a $0.25 daily close may trigger a rally.
The U.S. Securities and Exchange Commission (SEC) has formally acknowledged Nasdaq’s filing to list and trade shares of the proposed 21Shares US Dogecoin ETF. This regulatory step marks the beginning of the official review period, putting the long-awaited DOGE-backed investment product under federal scrutiny.
21Shares US shared the update on X (formerly Twitter), signaling a major development in its mission to bring crypto-based exchange-traded products (ETPs) into mainstream finance. If approved, the Dogecoin ETF would be among the first U.S.-listed products offering institutional investors regulated exposure to the popular meme coin.
Speculative Interest and Futures Market Signal Volatility
According to Glassnode, Dogecoin futures open interest jumped 70% in one week, rising from $989 million to $1.65 billion. This increase came despite a slight price dip, showing a clear divergence between market price and trader positioning. Glassnode flagged this as a trend “worth monitoring” for potential price swings.
Interestingly, this behavior coincides with DOGE’s astonishing 385% rise to $0.48 in Q4 2024. The long-term holder’s Net Unrealized Profit/Loss (NUPL) ratio crossing 0.5 means they are entering “belief” territory. This shift generally indicates seasoned holders are confident in expecting significant valuation increases.
DOGE Near Breakout, Eyes $0.25 Close
Adding technical fuel, crypto analyst Trader Tardigrade noted that DOGE is replicating the same pattern that preceded its monumental 30,000% rally in 2021. On the two-week DOGE/BTC chart, he identified a rounded base structure, resembling the late 2020 accumulation that kicked off Dogecoin’s historic surge.
The resemblance extends to the volume trends and RSI trends, pointing to a strong setup for potential continuation. At the current state of Dogecoin’s price, which is in the $0.22–$0.24 range, a day’s close that is above $0.25 could confirm bullish momentum, propelling the coin toward higher range-bound targets and possibly revisiting previous highs.
In the last one day, the price of Dogecoin has climbed 1.46%, it has now reached $0.2330, and it has conquered its market cap to be $34.98 billion. The trading volume was increased by 19.38% and reached a total of $2.14 billion, while the fully diluted valuation was similar to the market cap, indicating no upcoming token inflation.
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