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Dogecoin is warming up for a potential surge if a Doge ETF is approved. Render, Litecoin, and JasmyCoin, are also set to gain.

Bitwise Asset Management has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for the launch of a Dogecoin exchange-traded fund (ETF). This development has fueled speculation about potential price surges for Dogecoin (DOGE), with analysts predicting a rally of up to 600%. 

Meanwhile, other altcoins, including Render Token (RENDER), Litecoin (LTC), and JasmyCoin (JASMY), are also showing indications of strong future performance.

Bitwise’s filing is for an ETF that will offer direct exposure to Dogecoin, one of the first financial products to do so. NAV will be calculated by the Dogecoin-Dollar settlement benchmark on the CF trading platform.

No word on the trading platform or ticker symbol yet, but Bitwise will hold Dogecoin directly in the fund. Sponsor fee details are pending.

Bloomberg Senior ETF Analyst James Seyffart thinks a Dogecoin ETF will get approved, and meme coins are becoming more mainstream in financial markets. If approved, this will give institutional and retail investors regulated access to DOGE.

The Bitwise Dogecoin ETF application via X

After the ETF filing, crypto analysts are calling for a Dogecoin price rally. Based on historic trends, the meme coin could moon to $2.28.

Analysts have found patterns in DOGE’s price action where long periods of accumulation are followed by big breaks. This is looking like another big one.

Technical analysts are pointing to a bull flag on the daily chart. This is a bullish momentum indicator that has DOGE breaking out to $0.60 in the short term. Despite the recent drop, traders are still bullish for a big move.

Source:X

At the time of writing Dogecoin was trading at $0.3317 with a market cap of $48.96 billion and 24hr volume of $1.83 billion. Down 0.90% in the last 24 hours and 10.14% in the last week.

However, on-chain data shows that whales are accumulating DOGE, with reports of 460 million Dogecoins being bought during the dip. This could be a sign of a coming price increase.

Elon Musk has long been a catalyst for Dogecoin rallies, with his tweets often triggering sharp price spikes. While his influence on the meme coin has softened slightly, his occasional endorsements still carry weight in speculative markets.

Now, the Musk-Dogecoin connection is back in focus after X, Musk’s social media platform, announced a partnership with Visa—an initial step in its broader push into digital payments and banking. According to The New York Times, X launched a new digital payments feature on Tuesday, marking a major milestone in Musk’s ambition to turn X into an “everything app.” This vision, dating back to his PayPal days, has Dogecoin enthusiasts buzzing. Musk, a long-time Dogecoin advocate, even invited the coin’s co-founder, Billy Markus, to join X’s Department of Government Efficiency as an advisor just last week.

These moves have reignited speculation that Dogecoin could become a part of X’s financial ecosystem. While we believe this is a strong possibility, patience will be key.

Render Token, currently priced at $6.00, has been facing downward pressure. Forecasts indicate a potential drop to $5.67 by February 27, 2025. The Fear & Greed Index remains at 72, signaling a “Greed” sentiment despite the bearish trend. RENDER has recorded 16 green days over the past 30 days, reflecting a 7.25% volatility rate.?

Render Token (RENDER) weekly chart. Source: Brave New Coin

Short-term projections suggest that the Render Token could see slight gains, reaching $6.06 by January 29 and peaking at $6.60 by January 31. However, a decline to $6.31 by February 2 is expected.

While monthly forecasts indicate fluctuating prices, October could be a breakout month, with a potential high of $10.27. Investors considering long-term positions may see returns of up to 71.63% by the end of the year.

Litecoin’s network has seen a 30% increase in hashrate since early January and 50% in the last 4 months. This is due to more miners participating, but it also impacts mining profitability. Bitmain’s Antminer L9, a popular Litecoin mining rig, saw a $10.00 drop in daily earnings due to increased competition.

Monochrome Asset Management has applied to list the Monochrome Litecoin ETF (LTCC) on Cboe Australia. If approved it will be their 3rd crypto ETF, after Bitcoin and Ethereum ETF. Litecoin has been mixed, up 5.86% in the last 24 hours but down 0.23% in the last 7 days. It’s currently trading at $115.00 with a market cap of $8.71 billion.

On-chain data indicates strong confidence among long-term holders, with over six million addresses holding Litecoin for more than a year. This suggests that investors view LTC as a store of value despite short-term price fluctuations.:

Litecoin holders. Source: Santiment

Recent price action has been strong. LTC has broken past key resistances and is at new highs. Experts are projecting a short-term target of $400-$500 due to growing confidence and overall crypto market strength

JasmyCoin’s weekly chart has revealed a Cup & Handle pattern, a technical structure often associated with bullish breakouts. The pattern began with a sharp decline from $5.00 in 2021, followed by a rounded bottom, forming the “Cup.” The “Handle” phase has emerged after breaking resistance at $0.005, with consolidation above key support between $0.016 and $0.034.

Source: X

Analysts think a break out of this pattern could push JASMY to Fibonacci resistance of $0.30-$1.00. Currently trading at $0.02551 up 4.22% in 24 hours but down 4.21% in the last week. Despite the selling pressure, a move above the 9-day moving average of $0.0267 could be the start of the recovery.

The crypto market is full of new developments that could change the way we invest and value assets. Bitwise’s proposed Dogecoin ETF could be the start of a resurgence in alt coins under a pro-crypto President.

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