DOGE leads the rise of alts, ETF approval may drive prices to pump 740% | DOGE price prediction

With the highly anticipated Rex-Osprey DOGE ETF set to launch, the world's largest meme coin DOGE has led the altcoin market today (September 8). In the past 24 hours, the price of DOGE has risen by 7%, currently trading at $0.231, with daily volume skyrocketing by 123% to reach 2.6 billion dollars. Over the past week, this meme coin has also rebounded from a low of $0.205, rising by more than 10%.

DOGE leads the altcoin market

Over the weekend of September 7th, DOGE bulls made a strong entry, with daily trading volume surging by 125%, highlighting a strong bullish sentiment. Experts believe that the Rex-Osprey DOGE ETF will launch this week, which could drive the price of this meme coin to continue rising. Analysts have already begun setting targets of $1 or even higher for this largest meme coin.

(Source: TradingView)

From the multi-year chart, the price of DOGE is following a logarithmic upward trend, and experts believe that in this bull market, its price could rise by another 740%.

According to the chart above, DOGE has been trading within a trumpet-shaped bullish pattern, with each pump yielding stronger returns than the last. Analysts point out that the trend remains intact, and the next potential target for the price of DOGE is $1.40.

ETF approval expectations boost market optimism

As expectations grow for a 50 basis point rate cut at the Federal Open Market Committee (FOMC) meeting on September 17, the altcoin market is showing strength once again. In addition to DOGE, other altcoins such as XRP, Solana (SOL), and Hyperliquid (HYPE) have also performed strongly recently.

The Federal Reserve's shift to quantitative easing may inject new liquidity into the market. This could lay the foundation for the next round of alts season.

Last week, Rex-Osprey hinted that its DOGE ETF might be launched soon, which sparked strong optimism in the market for the Meme coin. Nate Geraci, president of NovaDius Wealth Management, announced on the X platform that:

"The first DOGE ETF seems very likely to be launched this week... Rex-Osprey DOGE ETF (DOJE). Get ready. I think the next two months will be crazy for cryptocurrency ETFs."

In addition, data from Polymarket shows that the approval probability for the DOGE ETF has soared to 94%. This indicates that the likelihood of approval for this Meme coin ETF is significantly increasing.

Conclusion

The strong Rebound of DOGE reflects the market's optimistic sentiment towards a new round of liquidity and institutional adoption in the digital asset space. The upcoming DOGE ETF signals that Meme coins are gradually evolving from a market driven by speculation and retail investors into mainstream financial products. This shift could not only bring substantial capital inflows to DOGE but also set a precedent for the entire alts market, indicating that a broader range of asset classes will gain institutional recognition. However, investors should remain cautious even as optimistic sentiment and the probability of ETF approvals surge, as the ultimate market trends still depend on the macroeconomic environment and actual capital flows.