On January 23, 2025, optimism surged in the cryptocurrency market following the inauguration of Donald Trump as the 47th President of the United States. Bitcoin remains just below its all-time high, while altcoins like Solana ($SOL) and XRP are gaining traction. Notably, Dogecoin ($DOGE) is also in the spotlight due to potential ETF approval.
Eric Balchunas, a Bloomberg analyst, tweeted that the SEC is close to approving a Dogecoin ETF from Bitwise, marking a significant development for DOGE investors. This approval could lead to billions flowing into the market, enhancing the legitimacy of Dogecoin, which would become the first meme coin to have such a financial product.
Analysts predict that with the backing of influential figures like Trump and Elon Musk, Dogecoin could reach the $1 mark, representing a nearly 200% increase from current levels. Furthermore, a new meme coin, Flockerz ($FLOCK), is also attracting attention, having raised nearly $13 million before its exchange listing, with expectations of substantial price increases post-launch.
Flockerz offers a unique staking feature promising high returns in its initial years, further tightening supply and potentially boosting its price upon launch. As the presale ends soon, investors are urged to act quickly to capitalize on this opportunity.