Dogecoin, the meme-born cryptocurrency, is showing impressive results in September, despite a general downtrend in the market. With a 36% rise this month, DOGE is attracting traders' attention.
Dogecoin's Sharp Rise in September
Over the past week, Dogecoin climbed double digits, extending its winning streak to five consecutive sessions, the longest since last summer. This growth has pushed the cryptocurrency closer to levels not seen since July when a sharp downturn wiped out more than a third of its value in less than two weeks.
Launch of the First Dogecoin ETF
The imminent launch of the first Dogecoin ETF in the U.S. is expected next week. The fund, backed by REX Shares and Osprey Funds, represents an important step towards institutional access to the cryptocurrency. Market players associate the launch with the potential for DOGE to strengthen its position above key resistance levels.
Dogecoin's Market Prospects
While the SEC has delayed its decision on Bitwise's standard Dogecoin ETF, anticipation around the REX-Osprey product has already invigorated the market. Analysts like Peter Brandt are pointing to a potential breakout, seeing institutional products as a chance for Dogecoin to enter a new era of growth.
Overall, Dogecoin is showing significant success in September and may continue to strengthen, especially with the ETF launch, which opens new opportunities for investment inflow into this cryptocurrency.
