Dogecoin (DOGE/USD) surged 10% in the past 24 hours, outperforming competitors like Shiba Inu (SHIB/USD) as the cryptocurrency market rallies amid optimism around Bitcoin (BTC/USD) ETF approvals. Here’s a breakdown of the key drivers behind this movement.
Market-Wide Rally Fueled by Bitcoin ETF Hopes
October has brought renewed bullish momentum to crypto markets, with Bitcoin breaking through $34,000 for the first time since May 2022—a 14% intraday gain on October 23. This upward trend spilled over into altcoins, including meme coins like Dogecoin and Shiba Inu:
- DOGE: +10.88% (24h)
- SHIB: +6.49% (24h)
- FLOKI: +5% (24h)
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Key Catalysts for the Surge
Spot Bitcoin ETF Developments:
- BlackRock’s recent filing for a spot Bitcoin ETF (iShares Bitcoin Trust) gained traction after securing a CUSIP license, a critical step toward fund seeding.
- Bloomberg analyst Eric Balchunas noted this as a "positive sign" in the approval process.
- Institutional Interest:
Trading volumes surged alongside speculation that institutional investors are positioning for ETF approvals. - Market Sentiment:
The broader crypto market is benefiting from reduced regulatory uncertainty and macroeconomic optimism.
Dogecoin’s Position in the Meme Coin Landscape
While Dogecoin’s price action mirrors Bitcoin’s rally, its community-driven appeal and high liquidity make it a standout among meme coins. Comparatively:
| Coin | 24h Gain | Current Price |
|------------|----------|---------------|
| DOGE | +10.88% | $0.068 |
| SHIB | +6.49% | $0.0000072 |
👉 Discover top meme coins to watch in 2025
FAQs: Dogecoin’s Price Surge
Q: Why is Dogecoin rising faster than Shiba Inu?
A: DOGE’s larger market cap and established brand often lead to sharper rallies during bullish cycles.
Q: Could Bitcoin ETFs indirectly boost Dogecoin?
A: Yes—ETF approvals may increase overall crypto market liquidity, benefiting altcoins like DOGE.
Q: Is Dogecoin’s surge sustainable?
A: While short-term momentum is strong, long-term performance depends on adoption and broader market trends.
Conclusion
Dogecoin’s 10% jump reflects broader crypto optimism, particularly around Bitcoin ETFs. As institutional interest grows, meme coins like DOGE could see heightened volatility. Always conduct independent research before investing.
Note: Prices are as of October 2025. For real-time data, refer to trusted exchanges.
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