Key Takeaways
The Dogecoin ETF launch is confirmed, as REX-Osprey’s DOJE fund is set to debut on the 11th of September. Could these catalysts really ignite Q4’s broader memecoin rally?
Earlier this week, AMBCrypto assessed the potential of a Dogecoin [DOGE] ETF as hype escalated.
However, the rumors have come to an end with the official launch of the REX-Osprey DOGE ETF, with a ticker symbol of DOJE.
According to Bloomberg ETF Analyst Eric Balchunas, DOJE will debut on the 11th of September. The fund has no leverage and marks the first U.S. ETF tied to an asset that openly carries no utility.
Source: X
The ETF launch coincided with growing attention on Digital Asset Treasuries (DATs) targeting memecoins.
Can ETFs and DATs fuel a memes rally?
Santiment’s social sentiment analysis revealed a surge in FOMO following news of the DOJE ETF launch. Meanwhile, over 30 other crypto ETF applications remain pending approval from the U.S. Securities and Exchange Commission (SEC).
Official Trump [TRUMP] and Pudgy Penguins [PENGU], among other memecoin ETFs, were in the lobby.
On top of that, these rising memecoin ETFs could kickstart a new era. Each hype has been met with massive buying from retail and institutions.
Speaking of institutions, DATs in this sector were also becoming a thing.
Source: Santiment
For instance, CleanCore Solutions added another 285 million DOGE worth $68 million, with a billion DOGE in sight over the next month. That would give it nearly 5% of the total circulating supply.
Together, these moves suggested memecoins might be gearing up for a year-end rally, echoing previous seasonal patterns.
DOGE price breaks higher
In the meantime, prices were breaking key diagonals, reinforcing bullish sentiment heading into Q4.
Per Trader Tardigrade’s post, the “king of memecoins” made a new peak since its lower high that formed on the 27th of July.
Source: Trader Tardigrade/X
In fact, Ichimoku cloud readings on the daily chart showed price holding above both the baseline and the cloud. The trend score stood at 2, at press time, pointing to bullish bias across short, mid, and long-term horizons.
Massive short liquidations at risk
CoinGlass data showed that about $45 million of DOGE risked liquidation at $0.267.
The recent developments heightened these chances, with the biggest cluster at $0.25 having more than $1.50 million in volume.
Source: CoinGlass
On the other hand, high leveraged longs of about 50x were sitting between $0.233 and $0.242. These cumulative orders of about $36 million were behind the recent runs seen in DOGE.
In summary, the hype behind ETFs and DATs positioned DOGE as the leader for a memecoin rally, with Q4 only a few weeks away.
