Dogecoin price remained in a tight range this week as Polymarket odds on a potential DOGE ETF fell.
Dogecoin (DOGE), the largest meme coin, rose about 6% on December 2, marking a seven-day gain of 7.5%. However, the momentum could be reversing as a Polymarket survey shows the likelihood of the Securities and Exchange Commission approving a spot DOGE ETF this year has fallen to 26%, compared to a high of 50% last week .
In contrast, Polymarket users expect the SEC to approve a Solana (SOL) ETF later this year, with a 76% probability. The chances of getting a Ripple (XRP) ETF are 70%.
The weaker odds for a DOGE ETF are likely due to the fact that no financial services firm has filed an application. In contrast, WisdomTree, a $100 billion asset manager, has filed for a Ripple ETF. Additionally, the SEC has a January 31 deadline to approve or reject Solana ETFs proposed by companies like Grayscale, 21Shares and VanEck.
Still, there is a possibility that one or more companies could file for a Dogecoin ETF if the SEC shows flexibility on crypto funds under Paul Atkins. Such an ETF could be more easily approved since Dogecoin is a proof-of-work cryptocurrency similar to Bitcoin.
DOGE also occupies a significant position in the crypto industry, with a market cap of $50 billion – about $16 billion less than MicroStrategy’s. MicroStrategy has several leveraged and covered call ETFs.
Crypto ETFs are performing well as they make it easier for institutional investors to enter the industry. Bitcoin ETFs now have over $105 billion in assets, while Ethereum funds have over $12 billion.
Dogecoin price analysis
