Could Dogecoin Skyrocket to $50? BlackRock’s Potential DOGE ETF Might Be the Key!

Jakarta, Pintu News – Speculation regarding the launch of the Dogecoin DOGE->Current DOGE PriceRp 0Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0 Exchange Traded Fund (ETF) and its impact on the price continues to dominate the market.

Some experts predict that DOGE could reach prices as high as $50 if asset manager BlackRock files for a DOGE ETF this year. This expectation is not surprising given the company’s huge influence in the crypto industry.

Dogecoin Price Catalysts

Currently, Dogecoin (DOGE) is facing intense selling pressure in the crypto market. The Elon Musk-led Government Efficiency Department, which was supposed to trigger an increase in the price of DOGE, has not managed to achieve that goal. This creates a new talking point for a potential Dogecoin price trigger.

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With limited smart contract functionality, analysts believe that the prospect of a Dogecoin ETF could revive DOGE’s price outlook in the medium to long term.

Despite being a memecoin, the token has experienced intense fluctuations in recent weeks, dropping 45.66% in this year’s period according to data from CoinMarketCap.

While the $1 price target feels unattainable, a more ambitious target appears on the horizon if top asset managers like BlackRock push for outright support of the coin.

Dogecoin ETF Launch

BlackRock already dominates the spot Bitcoin BTC->Current BTC PriceRp 0Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0 and Ethereum ETH->Current ETH PriceRp 0Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0 ETF market. To repeat its dominance, there is a new Bitcoin ETF allocation to BlackRock’s $150 billion model portfolio.

With this, proponents believe asset managers can replicate this strong adoption for DOGE ETFs. Grayscale Investments has launched a Dogecoin Trust for institutional investors. Many see this move as a step towards future DOGE ETF filings by asset managers.

Grayscale stated that the fund is open for daily subscriptions for qualified individual and institutional investors. Earlier, the US Securities and Exchange Commission (SEC) had officially recognized Grayscale’s spot ETF application for Dogecoin. This recognition deviates from the SEC’s historically rigid stance towards altcoin ETFs.

Bloomberg analysts, James Seyffart and Eric Balchunas, estimated the chances of Dogecoin ETF approval at 75%. Their predictions quickly sparked excitement about the possible price movement of DOGE.

Read also: Dogecoin Price Correction Today (3/17/25): Ali Martinez Says DOGE Has the Potential to Surge to $6?

Current Dogecoin Price Projection

The price of DOGE reached a daily peak of $0.175 on Friday, following broader market gains. Dogecoin was briefly trading at $0.1741, showing an increase of 2.8% in the last 24 hours at the time.

However, daily trading volume has declined by 13.6% to $1.02 billion, indicating a decrease in investor activity. Nonetheless, market participants are projecting an optimistic outlook for theecoin.

Doge Lord, a Dogecoin enthusiast, predicts that it could rise to $1 during this cycle. Others predict that the Dogecoin price could reach $50 in the long run if BlackRock files for DOGE.

While this seems economically unlikely, BlackRock’s influence could trigger a significant DOGE price rally. Based on the current outlook, the likelihood of BlackRock filing a Ripple XRP->Current XRP PriceRp 0Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0 ETF application, let alone a DOGE ETF this year is slim.

The asset manager has not yet filed for any ETFs other than BTC and ETH. These asset managers are likely cautious about altcoin ETFs, which have previously come under scrutiny from the SEC.

However, with the SEC now under a pro-crypto new administration, BlackRock may change its attitude towards altcoin ETFs. This could eventually lead to the acceptance of DOGE ETFs.

Overall, with the ever-changing market dynamics and the heavy influence of asset managers like BlackRock, the future of Dogecoin is likely to be heavily influenced by developments in the ETF sector.

While there is much speculation, only time will tell to what extent DOGE can reach new heights.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Will Dogecoin Price Hit $50 If BlackRock Files for DOGE ETF? Accessed on March 17, 2025