The cryptocurrency market is closely watching Dogecoin this week as Nate Geraci, chairman and president of The ETF Store, says the first Dogecoin ETF could launch very soon, possibly within days. Meanwhile, market analyst Javon Marks predicts that the memecoin could be on the edge of a massive rally, which may bring huge gains of more than 860 percent for holders.
First Dogecoin ETF Could Arrive This Week
Nate Geraci shared his view on X that the first Dogecoin ETF appears likely to launch this week. He pointed to the REX-Osprey DOGE ETF, which will trade under the ticker symbol $DOJE. Geraci told followers to “get ready,” and he added that he thinks the next two months for crypto ETFs will be “wild.” His words suggest that not only Dogecoin but also other crypto funds could be part of a very active period in the ETF space.
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ETF provider REX Shares also confirmed the REX-Osprey DOGE ETF. The company announced that $DOJE is coming soon and will be the first ETF to give investors direct exposure to Dogecoin’s performance. For fans of the iconic memecoin, this means there will be a new and regulated way to invest in DOGE without holding the coin directly.
The ETF filing with the U.S. SEC, which includes a prospectus for the offering, confirms that the plan is official and already moving forward, making Geraci’s comments about an ETF launch this week more realistic. If it goes live, the Dogecoin ETF will join the growing list of crypto ETFs already on the market, but it will stand out as the first dedicated to DOGE.
Analyst Predicts A 860% Surge In The Dogecoin Price
While news about a Dogecoin ETF is making waves, market analyst Javon Marks has put forward an even more dramatic outlook for the coin’s price. Based on his review, he believes the coin could rise more than 860% from its current levels. His price target is about $2.28, though he added that the move could even go much higher.
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Marks explained that Dogecoin’s earlier cycles have shown a pattern of big rallies, and the current setup is similar. That is why he thinks a near 10X rally could be looming in the future. In the past, the memecoin often spent long stretches moving sideways and building strength before breaking out into significant gains. Marks sees the same type of structure now, which is why he believes another large rally may be starting.
With the possibility of the first Dogecoin ETF launching this week and a well-known analyst suggesting massive price growth, the coin is once again at the center of attention in the crypto market. Investors are now watching both the ETF decision and the price charts to see if these bold calls will become reality.
Featured image from DALL.E, chart from TradingView.com