The eminent cryptography analyst Ali Martinez claims that an ETF Dogecoin will send the Dogey price to two -digit price levels.
In the middle of a common deposit of Rex Advisers and Osprey Funds and pass from BitwiseThe crypto space is full of speculation on a potential DOGECOIN (DOGE) Launch of funds negotiated on the stock market and possible implications on the price of the same. In particular, an analyst suggested that traditional investment packaging for the play on the theme of the dog would send its two -digit price.
DOGECOIN (DOGE) at $ 15?
The eminent cryptography analyst Ali Martinez said that an ETF would send Dogecoin (DOGE) to two -digit price levels.
In A recent post xThe analyst said that an ETF DOGE would push the price to an astonishing level of $ 15, against about $ 0.36 at the time of the editorial staff. He supported this point of view with an analysis of the weekly graphic of the candles of the same, which he has often pointed out in recent weeks.
The graph suggests that DOGE has been negotiated in an upward channel since at least 2017 and is moving away from the lowest of this channel again with a price target of $ 15. Martinez’s statement indicates that he thinks that an ETF will be the catalyst that the play even needs to achieve this enticing goal.
However, to achieve this price objective, the same will have to claim a market capitalization of 2.2 billions of dollars, or about 41 times its current valuation of $ 53.2 billion. For the context, this currently represents more than Bitcoin market capitalization.
Nevertheless, Martinez argued that market capitalization does not matter in cryptography, citing the fact that XRP (183 billion dollars) has greater market capitalization than the asset manager of 12,000 billion dollars Blackrock ($ 158 billion).
Meanwhile, an ETF DOGE can only harvest between 1.6 and 3.2 billion dollars during its first year, on the basis of A recent JPMorgan analysis The adoption of Bitcoin and Ethereum ETFs, suggesting the penetration of market capitalization from 3 % to 6 %.
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