#我要上精选# DOGE ETF is about to be approved, can Dogecoin take off?

In recent weeks, Exchange Traded Funds (ETFs) have repeatedly made headlines in the cryptocurrency field. A number of altcoins have emerged as market focuses. It is worth noting that, with Donald Trump voicing support for cryptocurrencies and Elon Musk involving in government affairs, Dogecoin (DOGE) is highly anticipated in the market and is expected to stand out among similar coins.

While Dogecoin has struggled to break through the $1 threshold for many years, the situation is different now. Investors in the community are placing various bets with high hopes. Once the ETF is approved, the Dogecoin price may soar to $2, opening up a new path of value appreciation. Whether this aspiration can be fulfilled remains to be seen as the market eagerly awaits.

The current market of DOGE
Over the past week, the cryptocurrency market has been like a 'red sea', with all sides in a fierce battle and turbulent waves. Even the meme coin camp is deeply involved, struggling to survive. However, in this overall downturn, Dogecoin is like a black horse, breaking through against the trend.

In the past seven days, DOGE has achieved a return of over 5%, performing remarkably well and standing out in the market. At the time of writing this article, DOGE, as the OG meme cryptocurrency, has been trading steadily at $0.2630, showing a momentum of nearly 2% daily breakthroughs. Whether it can continue its excellent performance in the future continues to captivate investors.

Recently, there has been a lot of activity in the cryptocurrency field, with the latest surge of Dogecoin attracting much attention, which is closely related to Grayscale's ETF application. On February 13, Grayscale successfully obtained official recognition from the U.S. Securities and Exchange Commission for the 19b-4 forms submitted for its XRP Trust and Dogecoin Trust. This undoubtedly marks the crucial beginning for future developments - the institution has now initiated a 204-day countdown to conduct a comprehensive evaluation of the related applications and make the final decision.

It is worth mentioning that over the past two weeks, the U.S. Securities and Exchange Commission has taken frequent actions, and multiple applications such as Litecoin (LTC) and Solana (SOL) have successively received its approval, indicating that the current cryptocurrency field is entering a critical decision-making period.

Focusing on Dogecoin, as an OG Meme Coin, whether it can successfully reach the high of $2 and become the market's hot topic is under discussion. CoinCodex gives a relatively cautious assessment based on professional analysis: Dogecoin faces a high level of difficulty in the short term to break through $2. According to their forecast, Dogecoin's peak trading price this year is likely to be locked at around $1.182974. Despite representing a significant increase of up to 348% compared to the current price, further tracking data reveals that the market expects Dogecoin to reach this milestone peak in February 2025.