What You Need to Know:
- Optimism for Dogecoin and XRP ETFs is on the rise, with social sentiment increasingly favoring both tokens.
- The likelihood of approval for a spot XRP ETF by 2025 has surged to 85%, despite regulatory delays by the SEC.
- Social interest in Dogecoin has risen, driven by 21Shares’ ETF filing and institutional support.
Recent social data from Santiment indicates a significant increase in optimism surrounding Dogecoin (DOGE) and XRP exchange-traded funds (ETFs). As positive sentiment gains traction, it often influences price spikes, while negativity can lead to downturns within trading strategies.
Conversations around XRP have turned bullish, with a notable decrease in bearish discussions, even if overall engagement with XRP has fallen in comparison to larger competitors. The probability of obtaining regulatory approval for an XRP spot ETF has notably risen to 85% since it stood at 65% two months prior, according to Polymarket.
Despite delays from the SEC on decisions regarding ETF proposals for both DOGE and XRP until June 17, technical analysis indicates a bullish market with strong accumulation trends evident.
After a period of muted engagement, Dogecoin’s popularity rebounded sharply following April’s ETF applications by 21Shares and Bitwise, with current sentiment reaching a three-month high.
The backing of the Dogecoin Foundation and the House of Doge for these applications has enhanced the credibility of the movement, reportedly helping to evolve DOGE’s identity from a mere ‘memecoin’ to a viable investment asset.
“After being seen mainly as a meme or joke coin, DOGE is now viewed as a more serious investment option with potential for wider adoption,” Santiment commented.
With analysts noting whale accumulation and bullish trends appearing in price charts, there’s a rising belief that Dogecoin could be entering a new growth phase. In contrast, other coins such as Ethereum (ETH), Solana (SOL), and BNB exhibit mixed social signals, even as Bitcoin’s price recovers above $97,000.
