ETH ETF Anticipation Raises Hope for Next Altcoin ETF Proposal, Analyst Eyes Dogecoin (DOGE) as Next Likely Option
Release: 2024/05/23 12:59 Reading: 963
ETH ETF Anticipation Raises Hope for Next Altcoin ETF Proposal, Analyst Eyes Dogecoin (DOGE) as Next Likely Option
The imminent approval of an early ETH Spot ETF has ignited a frenzy within the crypto sector. Many eagerly anticipate a surge in the prices of ETH and ETH-based tokens following the approval.
ETH Spot ETF Approval and Altcoin Expectations
As the crypto community eagerly awaits the ETH Spot ETF approval, expectations for altcoins to rally are escalating. Analysts predict a significant increase in ETH's price shortly after the green light is given.
Moreover, the ETF approval is expected to boost the values of ETH-based tokens as well. Memecoins such as PEPE and FLOKI are likely to experience price surges alongside ETH.
Next Potential ETF Candidate: Dogecoin (DOGE)
While the crypto community eagerly awaits the ETH Spot ETF approval, other analysts are looking ahead. The success of BTC Spot ETFs has fueled speculation about the next altcoin to be considered for an ETF.
According to an analyst's discussion, the next ETF candidate must have a market presence comparable to Bitcoin (BTC) and Ether (ETH). This narrows the options to Litecoin (LTC), Ripple's XRP, Cardano (ADA), and Dogecoin (DOGE).
Dogecoin's Potential
After evaluating these assets, the analyst concluded that Litecoin and Cardano are still under scrutiny by the SEC. However, a recently passed bill by the US House may pave the way for their inclusion.
XRP's ongoing legal battle with the SEC leaves Dogecoin as the most viable option. DOGE has a long market history, a strong community, and support from influential figures like Elon Musk. This insight suggests a potentially bullish outlook for DOGE holders.
Conclusion
The anticipation surrounding the ETH Spot ETF approval has not only boosted expectations for ETH and ETH-based tokens but has also raised hopes for the next altcoin ETF proposal. Dogecoin, with its market longevity, community support, and industry backing, emerges as a strong candidate for the next ETF listing.
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