DOGE added 40% over the week. Analysts predicted the approval of the ETF

Over the week, the quotes for the meme coin Dogecoin increased by 40%. The price of the "funny coin" approached the mark of $0.27, which is a maximum over the last six months.

Source: CoinGecko. Head of Research at Grayscale, Zach Pandl, linked the rise to an increase in traders' "appetite" for risk. According to him, the price dynamics of DOGE correspond to the overall movement of the altcoin market and do not reflect changes in the fundamental value of the project.

Pendle added that the law on stablecoins signed by US President Donald Trump has a positive impact on the entire segment.

The head of research at Arca, Katie Talati, believes that investors are shifting capital to altcoins after the rise of Bitcoin and Ethereum. She explained that traders are taking profits and investing them in smaller assets.

According to Talati, the wide availability of DOGE on exchanges helps the token attract retail investors.

The dynamics were also influenced by corporate news. The Nasdaq-listed mining company Bit Origin announced a strategy to replenish its reserves in DOGE by $500 million. The firm has already made its first purchase for $40.5 million.

Against the backdrop of growing interest in the asset, several companies have submitted applications to the U.S. Securities and Exchange Commission for the launch of spot Dogecoin-ETFs. Bloomberg analysts estimate the likelihood of approval for such funds at 90%.

At the time of writing, the meme coin is trading at $0.26 (-2.8% over the past 24 hours). The coin ranks eighth in the market capitalization with a figure of $40.2 billion.

Source: CoinGecko. Let us remind you that in March 2025, the asset entered the top three most popular cryptocurrencies for mining in the Russian Federation.

On April 20, the crypto community celebrated the traditional Dogecoin day.