Dogecoin Surges 40% in a Week Amid ETF Approval Speculation

Over the past week, the value of the meme coin Dogecoin has surged by 40%. The price of the “funny coin” has neared $0.27, marking a six-month high.

Grayscale’s head of research, Zach Pandl, attributed the rise to an increased “appetite” for risk among traders. According to him, the price movement of DOGE aligns with the overall trend in the altcoin market and does not reflect changes in the project’s fundamental value. 

Pandl added that the law on stablecoins signed by U.S. President Donald Trump positively impacts the entire segment.

Katie Talati, head of research at Arca, believes investors are shifting capital into altcoins following 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.

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

Amid growing interest in the asset, several companies filed applications with the U.S. Securities and Exchange Commission to launch spot Dogecoin ETFs. Bloomberg analysts estimate a 90% chance of such funds being approved.

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

Back in March 2025, the asset entered the top three most popular cryptocurrencies for mining in Russia.

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