- DOGE is up ~20-23% over the last week, trading around $0.26, despite repeated delays of the DOJE ETF launch.
- According to Bloomberg ETF analyst Eric Balchunas, the launch is likely to take place on September 18, 2025.
- CleanCore Solutions has amassed over 500 million DOGE for ~$130 million to make it a reserve asset.
Dogecoin (DOGE) has been on a tear this week, gaining strength even though the much-anticipated U.S. spot Dogecoin ETF (ticker DOJE, by Rex-Osprey) has again been delayed. According to Bloomberg ETF analyst Eric Balchunas, the launch was initially expected earlier in the week but has been pushed back several times. In his latest X post, he suggested that the DOJE ETF is delayed to September 18, 2025.
Despite these delays, DOGE has rallied sharply. Over the past seven days, its price has climbed about 20-23%, trading around $0.26 as of mid-September. On September 12, 2025, DOGE traded near $0.2633, after breaking above several resistance levels. Historically, DOGE’s all-time high is ~$0.7386, which it achieved on May 8, 2021, whereas its all-time low is about $0.0000855 in 2015. Most analysts say that the DOJE ETF, once launched, could be a catalyst for further gains.
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Source: CoinMarketCap.com
Can the DOJE ETF be a game-changer?
ETFs often make it easier for institutions to allocate capital without the complexities of holding the cryptocurrency directly. Having a regulated ETF could improve liquidity, lower spreads, and elevate DOGE’s reputation among more conservative investors. On launch, there is likely to be volatility as market participants position around it. Resistance and support levels will be tested.
Dogecoin utility debate
However, the bigger debate surrounding the Dogecoin ETF is about its utility. Eric Balchunas, in his tweet, said, “I’m pretty sure this is the first-ever US ETF to hold something that has no utility on purpose.” Meanwhile, Marco Margiotta, CEO of House of Doge, argued that the ETF approval will be vindictive, saying that “Dogecoin is more than a meme, it’s a global currency”.
DOGE is used for peer-to-peer digital payments, tipping, micro-transactions, and in some cases to pay for goods and services. Its very fast block time and low transaction cost are among some of its USP. The “meme coin” branding also gives it a strong community or cultural utility.
If nothing else, institutional interest is definitely rising. CleanCore Solutions, a public company, announced holding over 500 million DOGE in its treasury, aiming for 1 billion. Singapore’s Bit Origin is another company that has pledged funds towards a Dogecoin Treasury, according to CoinGecko data.
