Dogecoin Surges Despite DOJE ETF Delay, Institutions Race to Accumulate
Dogecoin (DOGE) experienced a meaningful price jump to $0.2840, marking the highest point since July 21. The coin has climbed 100% from its April lows, with a massive 24-hour volume exceeding $5 billion.
The anticipated DOJE ETF, expected to launch soon, faced another delay. According to Bloomberg’s Eric Balchunas, it could hit markets on September 18th. Unlike customary ETFs, DOJE operates under the Investment Company Act of 1940 with a Cayman subsidiary holding DOGE assets.
institutional demand is booming. Companies like CleanCore Solutions and House of DOGE aim to control 5% of dogecoin supply. Bit Origin purchased over 70 million coins and seeks to raise $500 million for further acquisitions.
- DOGE ETF launch expected next week.
- Institutional buyers aim to own 5% of supply.
- Technical indicators suggest potential 50% gain.
Technical analysis indicates a strong bullish trend. DOGE has surpassed the 50-day and 100-day Moving Averages,supported by rising indices.Breaking the ascending trendline’s upper boundary could propel the price towards the $0.4320 resistance, up by about 52%.
This momentum signals a promising future for Dogecoin, showing resilience and attracting more investors despite market uncertainties.
