Optimism regarding approval odds has increased as social buzz around the two majors rebounds.
Optimism for exchange-traded funds (ETFs) based on Dogecoin (DOGE) and XRP is rising sharply, with crowd sentiment shifting in favor of both tokens, according to social data from Santiment in a Thursday update.
Traders can combine social commentary monitoring with technical tools in their strategy, as positive discussions often drive price increases, while negative discussions may prompt bearish trades.
Online discussions about XRP reflect a bullish outlook, with few expressing bearish views, even though overall social engagement for XRP has declined compared to other major cryptocurrencies. The perceived probability of a spot XRP ETF approval by the end of 2025 has increased to 85%, up from 65% two months ago, according to Polymarket.
Investors have shown increased confidence despite the SEC’s recent decision to delay rulings on spot DOGE and XRP ETF proposals until June 17. Technical analysis continues to show a bullish outlook, indicating strong accumulation patterns during the current market lull.
DOGE Sees Social Sentiment Rebound Amid ETF Momentum
A dramatic shift in the online tone for Dogecoin has been observed following the April filings by 21Shares and Bitwise for DOGE spot ETFs. Until late April, DOGE experienced a prolonged lull in social attention, but its social dominance has since surged to a three-month high, according to Santiment.
The support for 21Shares’ application from the House of Doge and the Dogecoin Foundation has contributed additional credibility to the effort, allowing DOGE to shed some of its “memecoin” stigma.
Santiment reports that investors now view DOGE as a more serious investment option with potential for broader adoption, rather than just a meme or joke coin.
Analysts and traders have noticed heavy accumulation by whales and observed bullish patterns forming on the charts, contributing to the belief that Dogecoin may be entering a new growth phase, they added.
Meanwhile, tokens like ether (ETH), Solana’s SOL, and BNB have shown mixed social signals, even as bitcoin recovered above $97,000 early Friday.
