Can Dogecoin Reach $10? Why the 21Shares ETF Filing May Be Good

Dogecoin's discussion may be changing, and recent market movements imply it might hit new highs. Nasdaq just submitted a 19b-4 form to the SEC to list and trade the 21Shares Dogecoin ETF. This follows 21Shares' April 10 S-1 registration to allow investors regulated DOGE access.

Dogecoin ETFs May Arrive on Wall Street

Nasdaq filed a 19b-4 form with the SEC on Tuesday to list and trade the 21Shares Dogecoin ETF. This application expands on 21Shares' prior S-1 registration, which detailed the ETF's structure and highlighted a “exclusive” collaboration with the House of Doge.

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Nasdaq's 19b-4 registration is a crucial regulatory step, but the ETF cannot be launched without SEC clearance. It is the second and last official stage in proposing a spot cryptocurrency ETF for evaluation. After the SEC recognizes the file, it will be published in the Federal Register and the formal review period will begin, during which the agency will decide whether to approve, reject, or defer the decision.

Dogecoin would need a significant market capitalization increase to reach $10, which looked impossible at first. Technical studies of Dogecoin price rallies have set goals over $10. Growing institutional interest and momentum behind a spot Dogecoin ETF give significant support.

Bitcoin's past suggests such a jump is achievable. Institutional and ordinary investors poured money into the Spot Bitcoin ETFS after their approval in early 2024. Dogecoin, the meme king, is poised to follow suit. The $10 may not happen overnight, but this Nasdaq ETF registration is paving the way.

The SEC is considering numerous Spot Dogecoin ETFS listing files, along with Bitwise requests. About 70 crypto ETF applications are under SEC examination. Bloomberg analysts predict a 75% possibility of a DOGE ETF in 2025.

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