TLDR
- First US Dogecoin ETF (DOJE) launched with $5.8M opening hour volume on Cboe exchange
- DOGE price fell 2% to $0.2754 despite historic ETF milestone on Wall Street
- Institutional buyers like CleanCore Solutions acquired 100M tokens before launch
- Weekly gains of 5.45% show underlying strength despite daily decline
- Analysts target $1.40 to $5.00 price levels based on institutional adoption
Dogecoin experienced mixed price action Thursday as the first United States exchange-traded fund tracking the memecoin began trading. The REX-Osprey Doge ETF launched under ticker DOJE at $26.51 per share on the Cboe BZX Exchange.
Despite this regulatory milestone, DOGE price dropped over 2% in 24 hours to $0.2754. The cryptocurrency underperformed other top digital assets by market capitalization during the same period.
Trading volume for Dogecoin declined 23% while the new ETF generated substantial interest. DOJE attracted $5.8 million in first-hour volume, far exceeding the typical $1 million average for new fund launches.
The ETF closed its debut session at $26.37, down 0.53% from opening levels. Fund managers clarified that DOJE ownership differs from direct Dogecoin holdings, potentially cooling investor enthusiasm.
Institutional Interest Drives Long-Term Outlook
Corporate adoption accelerated ahead of the ETF launch. CleanCore Solutions purchased 100 million additional DOGE tokens Tuesday, bringing total holdings above 600 million coins.
The acquisition came as regulatory clarity improved around Dogecoin investment products. Institutional demand built even before the ETF impact became visible in markets.
Open interest in DOGE derivatives rose only 0.88% according to Coinglass data. However, over 80% of top Binance trader accounts maintained bullish positions on the cryptocurrency.
The REX-Osprey fund used Investment Company Act of 1940 regulations for faster approval. This approach bypassed lengthy Securities Act reviews that delayed other crypto ETF launches.
Market Dynamics Show Weekly Strength
Dogecoin demonstrated resilience with 5.45% weekly gains despite Thursday’s decline. The cryptocurrency rallied 13% from Tuesday’s local low of $0.25 before the ETF debut.
Trading patterns suggest underlying demand remains intact. The memecoin’s performance reflects broader market conditions rather than fundamental weakness.
Binance data shows sophisticated traders maintaining long positions. This institutional backing provides support during temporary price weakness.
The ETF structure offers regulated exposure without direct token ownership. Wall Street access could attract pension funds and other institutional investors previously unable to participate.
Dogecoin Price Prediction
Analysts project ambitious price targets following the ETF launch. Technical analysis suggests potential breakout toward $1.40, representing roughly 400% gains from current levels.
More aggressive forecasts call for $5.00 if institutional capital flows mirror earlier crypto ETF successes. This would represent approximately 1,600% upside from today’s trading levels.
Price predictions assume DOGE attracts similar inflows to previous cryptocurrency ETFs. Historical patterns show spot fund launches often drove underlying asset appreciation.
The regulatory fast-track approach positions Dogecoin for mainstream adoption. Corporate purchases and ETF interest signal growing institutional acceptance.
Weekly momentum remains positive despite daily volatility. Technical indicators suggest consolidation before potential upward movement.
Current trading around $0.28 provides entry opportunities for long-term investors. The combination of ETF access and institutional adoption creates favorable conditions for price appreciation.
