Dogecoin ETF Debut Hits $6M, Fuels Rally Amid SEC Review
The Rex-Osprey Dogecoin ETF debuted with a record $6 million in trading volume within its first hour, more than double forecasts. Dogecoin rallied nearly 10%, briefly reaching $0.285 before correcting to around $0.22.
The Dogecoin ETF launch underscored robust demand for regulated meme-coin exposure and drove institutional wallets to accumulate large DOGE positions. Traders are now eyeing resistance levels at $0.39 and $0.45; reclaiming $0.45 could signal a sustainable rally.
Meanwhile, the SEC continues reviewing additional Dogecoin ETF applications from Grayscale and Bitwise, with key rulings expected by October 17. Experts suggest that increased ETF liquidity and institutional inflows may support further upside, potentially pushing Dogecoin toward $1 this cycle.
Bullish
The record $6 million first-hour trading volume and near-10% price spike underline strong demand for regulated Dogecoin ETF exposure. In the short term, high ETF inflows and institutional accumulation may drive further gains as traders test resistance at $0.39 and $0.45, though some consolidation could follow initial volatility. Over the long term, additional SEC approvals and growing ETF liquidity are likely to boost institutional participation and market depth, supporting sustained upside and a potential push toward $1.