Dogecoin (DOGE) is rallying on fresh optimism that the U.S. will soon approve the first spot Dogecoin exchange-traded fund (ETF) a milestone that could shift how mainstream traders view the popular meme coin.
On September 9, DOGE climbed more than 5% to $0.2471 before settling slightly lower at $0.2465. The move came as traders braced for a potential green light on the Rex-Osprey Spot Dogecoin ETF (ticker: DOJE).
SEC Decision Expected This Week
The U.S. Securities and Exchange Commission (SEC) is set to rule on the ETF this week possibly as early as Tuesday, September 9, or by its fallback window on September 13.
ETF Store president Nate Geraci, a well-known expert in the space, noted the high probability of approval, suggesting the coming months could be “wild” for crypto ETFs. On prediction market Polymarket, traders are assigning a 91% chance that the DOGE ETF gets the go-ahead in 2025.
Why It Matters for Dogecoin
An approved ETF would mark a turning point for Dogecoin, long dismissed as a “joke coin” by traditional investors. With the ETF structure, DOGE could gain legitimacy in the eyes of institutional and retail traders alike.
Dogecoin already benefits from:
- One of the most active crypto communities.
- A fully decentralized ecosystem.
- Strong brand recognition in and outside of crypto.
If paired with ETF adoption, these factors could help DOGE break out of its meme reputation and become a more widely traded digital asset.
Price Outlook: Can DOGE Hit $1?
Analysts are also weighing in on the technical picture. XForceGlobal, a crypto market strategist, argues Dogecoin has followed a “textbook 5-wave move” since its inception, suggesting the current cycle could end with a push toward a realistic $1 target.
Still, risks remain. Even REX, in its official DOGE ETF filing, warned investors that Dogecoin’s price is notoriously volatile, subject to “rapid swings, changes, and uncertainty.”
The Bottom Line
Whether the SEC approves it this week or by September 13, anticipation around the first Dogecoin ETF has already injected new momentum into DOGE’s price. For believers, it could be the start of a new era. For skeptics, it’s a reminder that while Dogecoin has community and momentum on its side, it remains one of the most unpredictable assets in the crypto space.
