Dogecoin and PlutoChain ($PLUTO) Could See Major Price Jumps as Bitwise Files for a DOGE ETF and Develops a Layer-2 Solution for Bitcoin

Dogecoin could see a major price jump following Bitwise's filing for a DOGE ETF, potentially sparking a 10X rally and attracting institutional investors.

Dogecoin (DOGE) price analysis suggests a potential 10X rally in the pipeline following Bitwise’s filing for a DOGE ETF. The move could attract institutional investors and boost Dogecoin’s mainstream credibility.

Meanwhile, a Layer-2 solution from PlutoChain ($PLUTO) aims to enhance Bitcoin’s performance by enabling faster transactions, reducing fees, and offering Ethereum compatibility. This project could cater to Bitcoin’s scalability needs.

Here’s a closer look!

Dogecoin Price Prediction: Bitwise’s DOGE ETF Filing Might Be the Secret Ingredient for a 10X Rally

Dogecoin’s journey has a new twist with Bitwise’s latest move. Earlier this month, Bitwise set the stage by registering a Dogecoin trust in Delaware. Now, the company has officially filed an S-1 with the SEC to launch a DOGE ETF that would closely track the coin’s price. As pointed out by Bloomberg ETF analyst James Seyffart, while the trust was registered on January 22, this filing makes the move official with the SEC.

Other companies, including Osprey Funds, REX Shares, and Tuttle Capital, have also submitted proposals for crypto memecoin ETFs. Interestingly, Tuttle is going all out by filing for 10 leveraged ETFs that track popular assets and memecoins, pushing the boundaries of what the SEC might approve.

Bitwise’s filing still awaits a 19b-4 submission to begin the formal review process, and details like fees, ticker symbol, and the listing exchange remain undisclosed. However, this development is bound to pique investor interest in DOGE.

With a market cap of around $42 billion, Dogecoin might see increased demand that pushes its price higher, potentially leading to a significant rally. If the ETF is approved, we could even see a 10x surge in store for DOGE.

How PlutoChain ($PLUTO) Could Make Bitcoin Faster, Cheaper, and Expand Its Capabilities

Bitcoin changed the digital landscape, but it also faces challenges. Slow transaction speeds, high fees, and network congestion are limiting its wider adoption. A hybrid Layer-2 solution from PlutoChain ($PLUTO) could address these issues.

This approach might create a parallel network of Bitcoin’s blockchain, potentially reducing congestion and cutting transaction fees. The system offers block times of just 2 seconds and could improve energy efficiency by requiring less power.

The platform might also introduce EVM compatibility, which could allow developers to bring Ethereum-based projects to Bitcoin more easily. This feature might broaden Bitcoin’s utility for decentralized finance, NFTs, and AI-powered applications — areas where Bitcoin has been lacking.

PlutoChain aims to simplify user access through more innovative development tools. During its testnet phase, the project reportedly demonstrated scalability by handling around 43,200 transactions per day with minimal delays.

A focus on security is evident, with the project undergoing audits by several reputable firms, including SolidProof, QuillAudits, and Assure DeFi. A decentralized governance model could allow users to influence future upgrades and features through a transparent voting system.

The project’s native token, PLUTO, is designed to power the platform and might be used for transaction fees, governance participation, and staking rewards. It could be acquired through decentralized exchanges like Uniswap.

The Takeaway

Bitwise’s DOGE ETF filing could drive investor interest in Dogecoin, potentially sparking a major price rally and attracting both institutional and retail traders. If approved, this move could further legitimize DOGE’s presence in the market.

Meanwhile, PlutoChain ($PLUTO) could offer a Layer-2 solution for Bitcoin’s scalability issues. With features that may speed up transactions, lower fees, and expand Bitcoin’s capabilities, PlutoChain could be a project to watch in the coming weeks.

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Remember, this article is not financial or trading advice. All cryptocurrencies are volatile, and past performance is not a guarantee of future results. Always conduct your own research and/or consult with experts before making any crypto-related decisions. Trade responsibly. Forward-looking statements are uncertain and might not be updated