“Dogecoin Is Not Just A Meme Coin Anymore,” 21Shares Goes Super Bullish After ETF Filing

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Dogecoin (DOGE), once dismissed as an internet joke due to its meme coin origins, is now making a strong comeback, as 21Shares, a leading asset management firm, goes ultra-bullish on it. Following news of its ETF filing, 21Shares released a report positioning Dogecoin as a serious portfolio inclusion, emphasizing that it has evolved beyond its meme coin reputation. The firm has also shared several compelling forecasts for the meme coin, leaning toward a potentially bullish future trajectory. 

21Shares Bullish Scenario For Dogecoin

Following the release of its Dogecoin ETF filing to the US SEC, 21Shares published a report outlining three potential scenarios for the meme coin’s future price performance, ultimately leaning toward a more bullish position. The report also highlighted the advantages of adding Dogecoin to investment portfolios, revealing that a modest 1% allocation to DOGE, within a 60/40 investment structure already enhanced with a 3% Bitcoin allocation, could significantly improve overall returns. 

For its bullish case scenario, the firm noted that the DOGE price has significantly outperformed many altcoins over the past year. Due to its penchant for explosive rallies and historical trends that support a potential price surge, the asset management firm envisions Dogecoin achieving explosive growth similar to its last major pump. 

Before the last bull run, Dogecoin hit a price bottom at $0.007. Fast-forward two years, the meme coin has reached another bottom around $0.0585 this cycle, representing an astonishing Compound Annual Growth Rate (CAGR) of 189%. If the meme coin were to mirror the same pace over the next two years, its price could climb to $1.42, marking a historic milestone and a new all-time high. 

In this bullish scenario, Dogecoin’s price surge is expected to be driven by renewed meme coin mania, surge in real-world adoption, regulatory clarity, and major integration possibilities — such as Tesla and SpaceX CEO Elon Musk incorporating DOGE payments on X (formerly Twitter). Should retail interest and demand fully return, the meme coin is expected to not only reclaim its previous all-time highs but double them.

DOGE’s Bearish And Neutral Case

Moving on, 21Shares also outlined a bear case scenario for Dogecoin. While the meme coin’s fundamentals have strengthened, there are still risks of a muted price performance or even further downsides. 

The asset management noted that Dogecoin’s recent rally, fueled by post-US election enthusiasm, may have prematurely front-run its true market cycle. Expanding on this view, 21Shares projects that if Dogecoin grows at a modest 10% CAGR from its 2021 peak of $0.73, its price will reach $0.38 by 2025, doubling its current value but failing to hit a new all-time high. 

In a more neutral scenario, 21Shares assumes the total crypto market cap may peak at $5 trillion during this cycle. Under these conditions, if DOGE captures a 3% market share, down from its 4% previously, the meme coin’s market cap could surge to $150 billion. This would place its price at approximately $1, representing a 5.5X gain from current levels of around $0.175. 

Featured image from Getty Images, chart from Tradingview.com

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