Will DOGE surge in June?

Following the approval of the spot Ethereum ETF, other cryptocurrencies’ ETFs have also begun to gain popularity, including Dogecoin. Currently, Dogecoin (DOGE) has set off a unique wave of enthusiasm in the ecosystem, and people are speculating that a spot ETF product tracking the token will soon be listed.

Ethereum became the second cryptocurrency to receive its own ETF, following the landmark approval of the spot Bitcoin ETF in January 2024. After the approval of both assets, their respective currency prices rose sharply. Therefore, any speculation about the Dogecoin ETF will ignite enthusiasm for Dogecoin. However, the current speculation about the Dogecoin ETF has triggered mixed price reactions.

At press time, Dogecoin is trading at just over $0.16. Dogecoin has fallen 1% over the past week, with little volatility. Dogecoin did rise slightly in early May, rising 9% in 30 days. However, for now, Dogecoin remains stable.

On the other hand, the asset’s trading volume has increased by nearly 10% in the past 24 hours, indicating a growing interest in DOGE. Elon Musk’s support for cryptocurrencies has also often boosted the performance of the asset, as well as Bitcoin. Following the mid-May price surge, Bitcoin has also stabilized around $68,000, so the entire market outside of Ethereum has slowed down.

Traders and cryptocurrency market observers remain interested in Dogecoin because it is the most popular meme coin in the cryptocurrency market. However, the price of Dogecoin does not seem to reflect this interest yet. A surge in trading volume can be correlated with asset price movements, but this has not happened with Dogecoin yet. While the momentum is not yet bullish, fortunately, it is not yet bearish. The price prediction for June shows that Dogecoin will remain in the current price range and will not fall below $0.14.