Khairul-Anam
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$DOGE Can the Dogecoin price realistically hit $1 in February?
Dogecoin Dogecoin
doge
-9.55%
Dogecoin, the largest meme coin in the crypto industry, climbed to a high of $0.3340, gaining 12% from its lowest point this week.
The primary catalyst for Dogecoin’s rebound was Grayscale’s announcement of a new investment fund. The company noted that Dogecoin had evolved from a meme coin into a tool for global financial inclusion.
This development coincided with growing optimism among crypto investors that the Securities and Exchange Commission could approve a spot Dogecoin exchange-traded fund. Polymarket’s odds of approval jumped to a record high of 56%, up from 27% earlier this month. Rex Shares and Bitwise have already filed for a spot DOGE ETF.
Some analysts believe the approval of a spot Dogecoin exchange-traded fund would be a highly bullish event with the coin eyeing a move above $1 in February. Moving from the current $0.3391 to $1 would be a near 200% jump would represent an increase of nearly 200%, which is within the realm of possibility in the cryptocurrency market. If this happens, Dogecoin’s market capitalization would reach approximately $150 billion.
Four things may need to happen for the DOGE price to get to $1 in February. First, the SEC needs to be open to more crypto ETF approvals. If this happens, DOGE will likely be approved since it is a proof-of-work coin similar with Bitcoin Bitcoin
btc
-2.99%
Bitcoin.
Second, Bitcoin must maintain its bullish momentum. Altcoins like Dogecoin and Shiba Inu tend to perform well when Bitcoin is thriving. Third, the United States would need to release encouraging inflation data, which could increase the likelihood of the Federal Reserve cutting interest rates sooner than expected.
Dogecoin Dogecoin
doge
-9.55%
Dogecoin, the largest meme coin in the crypto industry, climbed to a high of $0.3340, gaining 12% from its lowest point this week.
The primary catalyst for Dogecoin’s rebound was Grayscale’s announcement of a new investment fund. The company noted that Dogecoin had evolved from a meme coin into a tool for global financial inclusion.
This development coincided with growing optimism among crypto investors that the Securities and Exchange Commission could approve a spot Dogecoin exchange-traded fund. Polymarket’s odds of approval jumped to a record high of 56%, up from 27% earlier this month. Rex Shares and Bitwise have already filed for a spot DOGE ETF.
Some analysts believe the approval of a spot Dogecoin exchange-traded fund would be a highly bullish event with the coin eyeing a move above $1 in February. Moving from the current $0.3391 to $1 would be a near 200% jump would represent an increase of nearly 200%, which is within the realm of possibility in the cryptocurrency market. If this happens, Dogecoin’s market capitalization would reach approximately $150 billion.
Four things may need to happen for the DOGE price to get to $1 in February. First, the SEC needs to be open to more crypto ETF approvals. If this happens, DOGE will likely be approved since it is a proof-of-work coin similar with Bitcoin Bitcoin
btc
-2.99%
Bitcoin.
Second, Bitcoin must maintain its bullish momentum. Altcoins like Dogecoin and Shiba Inu tend to perform well when Bitcoin is thriving. Third, the United States would need to release encouraging inflation data, which could increase the likelihood of the Federal Reserve cutting interest rates sooner than expected.
better sell
$QTUM Falling non-stop, sell or hold?
right 👍
$SPELL
It will break the previous high tonight!
Wait for it above 2.0!
It will break the previous high tonight!
Wait for it above 2.0!
change your name first
please help
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