#加密市场回调 🔔 Grayscale submitted an application, will the $DOGE Spot ETF be the next miracle?

Recently, a big news has spread in the circle - Grayscale has officially submitted documents to the regulatory authorities, seeking to convert its Dogecoin trust into a Spot ETF product. According to the plan, if everything goes smoothly, this matter could be finalized on the New York Stock Exchange on November 24.

Interestingly, Bitwise has also been active and recently revised its application materials to join this competition. It's quite intriguing to see two asset management giants focusing on Dogecoin at the same time.

📊 Several details worth noting:

There is a special rule in the regulatory process - if the SEC does not explicitly reject the product within the 20-day review period, the product can theoretically become effective automatically. This time window is indeed quite tight.

Unlike the previous structures that took a detour, this application is for a product that directly holds $DOGE Spot. If it is approved, it would indeed be a milestone event in the process of compliance.

An analyst at Bloomberg mentioned that "the situation looks pretty good"; of course, you know how to take Wall Street veterans' "optimism" with a grain of salt.

🎲 Why is the market paying so much attention?

In September last year, the regulators adjusted the rules, providing a relatively relaxed channel for alternative crypto asset ETFs. As the leader of the MEME sector, Dogecoin could trigger several chain reactions if approved:

The entry threshold for traditional capital will be significantly lowered; compliant identities can attract more conservative institutional funds; the valuation logic of the entire MEME coin ecosystem may need to be recalculated.

🐕 Boss Ma has been up to something again.

Although the coin price hasn't fluctuated much recently, Musk has been quite active. A couple of nights ago, he posted a video of a Shiba Inu playing the piano with some cryptic captions. The official Dogecoin Twitter account also joined in on the fun, posting a joke about "sneaking out at midnight." The interpretation experts in the community have once again turned into a full team of Sherlock Holmes.

💭 Rationally view this opportunity.

If you recognize the long-term value of MEME coins, a price around 0.2 USD is indeed not expensive. In an extreme case, if it retraces to 0.05 (though the probability is low), it might really be a chance to pick up a bargain.

One thing needs to be acknowledged: after this cycle, whether $DOGE can still stay below $1 is really hard to say. Some people in the overseas community have already called out a sky-high target of $7.2, and let's be conservative, an expectation of $2 is not completely impossible. $ETH $ZEC is also worth paying attention to.

⚠️ But don't forget the risks

Will the SEC turn against us at the last moment? Which of the two institutions will come out on top? These variables will have answers within 20 days.

The market has never been short of stories; what it lacks is the patience to turn those stories into profit. Is this a real opportunity or just another round of speculation? What do you think?