Dogecoin's price increased following the launch of the first U.S. memecoin ETF, while Bitcoin remained stable as traders await key macroeconomic data and central bank announcements.

Market Overview

Crypto markets displayed mixed performance, with Bitcoin (BTC) underperforming while Dogecoin (DOGE) and Solana (SOL) experienced gains. This comes as traders are closely monitoring upcoming Consumer Price Index (CPI) and Producer Price Index (PPI) data, as well as central bank announcements that could significantly impact market sentiment.

Dogecoin ETF Launch and Market Reaction

The Rex-Osprey Doge ETF (DOJE) launched on September 11, 2025, marking the first U.S. ETF focused on Dogecoin. This event triggered a 17% surge in Dogecoin's price, reaching a high of $0.245 in the days leading up to the launch. Currently, Dogecoin is trading at approximately $0.24, up over 1.3% in the last 24 hours and nearly 13% in the last week. Analysts project potential growth to $2.28 if institutional capital sustains interest. The ETF is governed by the Investment Company Act of 1940, allowing institutional investors to access Dogecoin without directly owning it.

Bitcoin's Stalled Momentum

Bitcoin's price is hovering around $111,276, with analysts noting it is attempting to build momentum above $111,500. The crucial resistance barrier remains at $112,000. Bitcoin ETFs have attracted $368 million in inflows on Monday alone, and $1.1 billion added over the last 10 days. Investor sentiment has remained bullish.

Macroeconomic Factors and Market Sentiment

Upcoming macroeconomic data, including the August PPI and CPI, are expected to induce short-term volatility. A firm PPI would strengthen the dollar, push up yields, and typically pressure rate-sensitive risk assets, including crypto. Conversely, a cool-down would ease those headwinds. A softer-than-expected CPI print would strengthen the case for a larger policy move, while a surprise re-acceleration could cap a dovish reaction. The Federal Reserve's meeting on September 17 is seen as a major turning point, with markets expecting a 0.25% rate cut. According to the CME Group's FedWatch Tool, markets are currently pricing in an 88% chance of a 0.25% rate cut at the upcoming Federal Open Market Committee (FOMC) meeting, with a smaller chance (12%) of a deeper 0.5% cut.

Expert Commentary

Crypto traders have swung into more negative sentiment and deeper fear, uncertainty, and doubt (FUD), according to the onchain analytics platform Santiment, but analysts say it's likely only temporary.

Tom Lee of Fundstrat predicts Bitcoin could reach $200,000 by the end of 2025, or even sooner, depending on Fed policy. However, Illia Otychenko of CEX.IO cautions that a 25-basis-point cut may already be priced in, suggesting that a 50 basis point cut could “spook markets” if interpreted as a sign of deeper economic trouble.

Broader Context

The launch of the Dogecoin ETF signals a broader institutional acceptance of meme coins. Regulatory shifts, including the CFTC's commodity classification of Dogecoin and SEC policy changes, have eased institutional adoption. However, persisting volatility remains a challenge, with Dogecoin's daily price swings averaging 8.23% in Q2 2025. Global regulatory gaps also complicate cross-border adoption.