A Peek at the DOGE Price Prediction Before the DOJE ETF: Will It Go Higher?

Bittime - The launch of a Dogecoin ETF, ticker code DOJE, has been one of the hottest topics in the crypto world heading into this week. 

Analysts predict the move could be a major catalyst for DOGE price which is currently trading at around US$0.240.

With increasing whale accumulation, bullish technical indicators, and institutional support, the market is now speculating: how high can Dogecoin's price go before the ETF officially launches?

This article will discuss DOGE price predictions ahead of the DOJE ETF, technical expectations, and the short-term outlook relevant to both retail and institutional investors.

Launch Date and Market Enthusiasm

According to a Bloomberg report, the Dogecoin ETF (DOJE) is scheduled to launch on Thursday this week.

If launched, this ETF would be one of the first in the US for the meme coin, opening the door for traditional investors to gain exposure to DOGE without having to buy and hold it directly.

Eric Balchunas, Senior ETF Analyst at Bloomberg, called the erameme coin ETFcan start with DOJE.

Although Dogecoin was originally created as a joke, legitimacy through an ETF could provide additional liquidity and increase its appeal in the global market.

Read Also: DOGE ETF (DOJE): What Is It and When Will It Be Approved?

DOGE Technical Analysis Ahead of ETFs

Technically, Dogecoin has just broken through the symmetrical triangle pattern that has been forming since mid-July.

This breakout is a bullish signal with an initial price target of around US$0.247, which is the daily resistance.

Other indicators also support the positive outlook:

• Relative Strength Index (RSI) is at level 59, indicating bullish momentum.
• MACD noted a bullish crossover with a green histogram that continues to rise.
• If DOGE breaks through the resistance of US$0.247, the price could continue to the targetUS$0,311.

Conversely, if a correction occurs, the nearest support is at the 50-day EMA at US$0.220, a crucial level that must be maintained to maintain the positive trend.

Whale Accumulation and On-Chain Data

On-chain data from Santiment shows increased accumulation by DOGE whales. Large holders with holdings between 100,000 and 100 million DOGE reportedly added 280 million tokens in recent days.

This phenomenon reflects the confidence of large investors ahead of the ETF launch, and is also one of the factors driving optimism regarding Dogecoin price predictions before the ETF.

Read Also: What are Dogecoin's advantages? Check out 10 advantages of DOGE over other meme coins.

DOGE DOJE ETF Outlook: Short-Term Outlook

Given all these factors, the short-term outlook for DOGE ahead of the DOJE ETF launch appears bullish. Market expectations place the DOGE price in the US$0.28–US$0.31 range before the ETF officially launches.

If the ETF receives a positive response from institutional investors, it is not impossible that the DOGE price could surpass the psychological level of US$0.50 in the coming weeks.

However, volatility remains high, so traders should pay attention to DOGE's support and resistance levels before the ETF to anticipate sudden corrections.

Conclusion

The DOJE ETF has been a key catalyst in Dogecoin's rise to become one of the most popular crypto assets.

With a technical breakout, whale accumulation, and market enthusiasm, the DOGE price prediction ahead of the DOJE ETF indicates significant upside potential. 

However, the risk of a correction remains, and investors are advised to carefully manage their exposure.

Read Also: XRP vs Dogecoin: A Comparison Before Buying Crypto

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FAQ

What is the DOJE ETF?

The DOJE ETF is a Dogecoin-based investment product traded on a stock exchange, allowing traditional investors to gain exposure to DOGE without having to buy the coin directly.

What is the current price of DOGE ahead of the DOGE ETF?

Last Wednesday, DOGE was trading aroundUS$0,240after breaking through the symmetrical triangle pattern.

What is the Dogecoin price target before the ETF launches?

DOGE's short-term target is in the rangeUS$0,28–US$0,31if it manages to break through the resistance of US$0.247.

Can the DOGE ETF make the DOGE price go higher?

Yes, the legitimacy of an ETF has the potential to increase institutional interest, increase liquidity, and push DOGE prices higher.

What are the biggest risks in DOGE price prediction before DOGE ETF?

The biggest risk is crypto market volatility. If the key support at US$0.220 is breached, DOGE could experience a deeper correction, despite the positive ETF outlook.