 
 
A crypto analyst has projected Dogecoin (DOGE) price to soar above $4, citing on-chain metrics. This upward trajectory means lots of institutional funds and new capital would flow into the asset in the bull cycle peak. Currently, DOGE trades at $0.20, taking up its market cap above $30 billion, while the total crypto market cap stands at $3.68 trillion.
Dogecoin to $4? Bulls Take Positives
In an X post, analyst Trader Tardigrade stated that Dogecoin is on a surge with a growth path to $4 this year. This is a more bullish projection than others who previously tipped a $1 price action. This comes amid investors indicating interest in meme coins, with many buying the dip ahead of a surge.
As the asset flipped weekly losses, large whales have begun ramping up assets, spilling into other meme coins. Another trader, Crypto Tony, noted that it is only a matter of time before Dogecoin hits an upward rally. In recent months, many holders have pointed to Elon Musk influence to fuel the asset’s next run. Since his appointment to head the Department of Government Efficiency (DOGE), Dogecoin enthusiasts have been in a frenzy about the prospects.
Spot DOGE ETF Excites Holders
Another major factor behind the DOGE appetite spike is the anticipated spot DOGE ETF in the United States. The NYSE Arca applied to the Securities and Exchange Commission (SEC) to list Grayscale’s spot ETF, with the company rolling out a Dogecoin Trust. Grayscale continues to expand its crypto listings as part of its vision for the industry.
The market has gauged possible inflows, drawing comparisons with Bitcoin products that have seen increasing inflows. Amid pro-crypto regulations in the United States, users see a 70% chance of approval in the coming months.
 
“This could be a game-changer for #Dogecoin, potentially driving significant price movements. Some analysts predict a surge to $3.69 or even $15 upon ETF approval. Currently, $DOGE is trading at $0.2530, with a daily high of $0.2688 and a low of $0.2489.”
Recent developments have also seen the digital asset community rally behind spot altcoin ETFs after the launch of Ethereum’s products. Although Ethereum underperformed, investors turned their attention to Solana and XRP products. SOL and XRP prices recorded massive upticks, hitting levels not seen in months before the current price dip.
Source: https://zycrypto.com/mega-bull-flags-potential-dogecoin-run-to-4-doge-price-heres-more/