Dogecoin’s price is surging, fueled by recent advancements like a new ETP and potential SEC approval for a spot ETF. However, the meme coin has also become a target for fraudulent schemes targeting investors. 🐶🚫💸 A prominent Dogecoin developer, known as X user inevitable360, issued a strong warning about potential scams involving tokens claiming to be related to Dogecoin but lacking their own blockchain. They urged community members to remain vigilant against these attempts and focus on legitimate projects that provide real utility. This caution comes amidst an optimistic outlook for DOGE, with analysts predicting further price gains and potential new highs.
Recent developments have boosted the token’s momentum. 21Shares partnered with House of Doge to launch a physically-backed Dogecoin ETP on the SIX Swiss Exchange, offering investors exposure through traditional financial channels. Additionally, 21Shares filed for SEC approval for a spot Dogecoin ETF, echoing Grayscale and Bitwise’s previous efforts. As of this writing, an approved spot DOGE ETF before the end of 2025 is expected to reach around 64%.
The price of DOGE currently hovers around $0.16, experiencing a strong weekly gain of nearly 20%. Analysts predict further price increases, with potential targets of $0.21 or even higher if Dogecoin successfully breaks through the key support level at $0.13.
The warning comes as crucial developments in the Dogecoin ecosystem unfold. The article on CryptoPotato provides a deeper dive into this exciting space.