Can DOGE reach 10 dollars? Why the 21Shares ETF application might be good news.

Discussions about Dogecoin may be changing, as recent market trends suggest it could reach new highs. Nasdaq has just submitted a 19b-4 form to the SEC to list and trade the 21Shares Dogecoin ETF. This follows the S-1 registration submitted by 21Shares on April 10, allowing investors to gain exposure to regulated DOGE.
DOGE ETF may appear on Wall Street.
On Tuesday, Nasdaq submitted Form 19b-4 to the SEC to list and trade the 21Shares DOGE ETF. The application expands on the previous S-1 registration by 21Shares, which details the structure of the ETF and emphasizes the "exclusive" partnership with Doge House.
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The Nasdaq's 19b-4 registration is an important regulatory step, but without SEC approval, the ETF cannot be launched. This is the second and final official stage for the proposal of a spot cryptocurrency ETF for evaluation. After the SEC confirms the document, it will be published in the Federal Register, and the official review period will begin, during which the agency will decide whether to approve, deny, or postpone the decision.
DOGE requires a significant increase in market capitalization to reach $10, which initially seems unfeasible. Technical studies on the price increase of DOGE set a target of over $10. Growing institutional interest and support for a spot DOGE ETF provide significant backing.
The past of Bitcoin indicates that such leaps are achievable. Institutions and retail investors are pouring funds into the spot Bitcoin ETF after approval in early 2024. DOGE, the king of memes, is ready to follow suit. $10 may not be realized overnight, but this Nasdaq ETF registration is paving the way.
The U.S. Securities and Exchange Commission is considering multiple spot DOGE ETF listing applications, as well as Bitwise's request. Approximately 70 crypto ETF applications are under SEC review. Bloomberg analysts predict a 75% chance of a DOGE ETF by 2025.
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