Dogecoin ETF application is imminent and is expected to exceed $0.5, and short sellers may leave the market sadly

According to the latest news on December 24, 2024, although no investment manager has yet officially submitted an application for a Dogecoin ETF to Wall Street, the industry generally believes that the Dogecoin ETF is highly likely to be approved in the next few months. .

Here are a few reasons to support Dogecoin ETF approval:

The celebrity effect is significant: Dogecoin, as the number one meme coin in the cryptocurrency field, has always attracted much attention. Especially with the firm support of Tesla CEO Musk, his relevant remarks and actions often trigger violent fluctuations in the price of Dogecoin. If the Dogecoin ETF is successfully launched, it will surely attract more investors’ attention and influx of funds.

Huge market influence: As one of the oldest meme coins, Dogecoin has a pivotal position in the cryptocurrency market. It has a substantial market capitalization and has millions of loyal supporters and investors. The launch of ETF will provide investors with a more convenient and efficient investment channel, further promoting Dogecoin to become a mainstream financial asset.

Industry development trends: Since the successful launch of Bitcoin ETF in January 2024, the cryptocurrency industry has ushered in unprecedented development opportunities. The market generally expects that with the advent of ETFs related to popular altcoins, the cumulative market value of the cryptocurrency market is expected to exceed the US$4 trillion mark. The launch of Dogecoin ETF is in line with this industry development trend.

Favorable policy environment: Some predictions indicate that as the new U.S. government takes office, its attitude towards cryptocurrency will be more open and supportive. This will create a more favorable policy environment for the launch of cryptocurrency ETFs and further increase the possibility of the Dogecoin ETF being approved.

𝘱𝘶𝘱𝘱𝘪𝘦𝘴, which was born because of Musk, currently has a market value of 9 million US dollars and holds more than 16,000 coins. It is a community CTO. Now is a good time to ambush!

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