Get Ready for Dogecoin’s Big Day: Excitement Builds for ETF Approval!

Get Ready for Dogecoin's Big Day: Excitement Builds for ETF Approval!

Today is a significant day for Dogecoin, the largest meme coin. While we may not yet see immediate chart impacts, this year feels different. For the first time, there's strong belief in potential ETF approvals for altcoins, with applications for various cryptocurrencies, including DOGE, submitted in recent months.

Dogecoin Day

DOGE, the largest meme coin by market capitalization, has consistently held its top ranking, weathering occasional challenges. In 2021, it neared the $1 mark, and as of April 20, 2025, it traded at $0.15.

This year's unique aspect is the unprecedented proximity to potential DOGE ETF approvals. Deadlines are in November, and the restructured SEC no longer has an anti-crypto leader.

With a market cap exceeding $23 billion, DOGE introduces 14.4 million new tokens daily. Despite a daily new token supply exceeding $2 million in value, buyer demand remains robust. In contrast, the consistent daily supply of other meme coins could continuously depress their prices.

According to Anndy Lian, Dogecoin's strength stems from several factors:

• An enthusiastic community.
• Ease of accessibility.
• Its appeal as a speculative investment.

"Unlike Bitcoin or Ethereum, Dogecoin's inflationary supply—adding about 5 billion coins annually—keeps prices accessible, typically under $1, making it psychologically attractive to individual investors," Lian explains. He highlights Dogecoin's sustained strength through its appeal to younger, tech-savvy investors.

DOGE ETF

The next decision date is in May. Applications for a Dogecoin (DOGE) Spot ETF have been submitted by Bitwise, Grayscale, 21Shares, and Osprey. Grayscale's application faces a decision date of May 21st. A 75-day extension from the SEC, which has previously postponed decisions on many altcoins, wouldn't be surprising.

The SEC's recent statement that meme coins won't be classified as securities or investment contracts increases the likelihood of DOGE ETF approval by year's end, alongside others, potentially integrating a meme coin into traditional investment portfolios.