Investors are growing optimistic about the potential approval of spot exchange-traded funds (ETFs) for Dogecoin (DOGE) and XRP, with sentiment indicators and social media trends suggesting a resumption of bullish momentum for both tokens.
Dogecoin and XRP ETF Excitement Fuels Bullish Momentum
According to blockchain analytics platform Santiment, social media chatter regarding DOGE and XRP has increased in recent days, with the tone of discussions turning noticeably positive.
The shift reflects rising hopes that U.S. regulators will approve spot ETFs for the two digital assets, a move that could further boost their legitimacy in the eyes of institutional and individual investors.
According to prediction market platform Polymarket, the probability of a spot XRP ETF being approved by the end of 2025 has jumped to 85% from 65% just two months ago.
Despite the US Securities and Exchange Commission (SEC) delaying its decisions on both DOGE and XRP ETF applications until June 17, market participants remain optimistic. Technical charts are also showing accumulation trends, indicating strong investor interest amid the current market downturn.
DOGE, in particular, experienced a dramatic comeback on social media after 21Shares and Bitwise filed for DOGE spot ETFs in April.
Santiment noted that DOGE’s dominance on social media has reached a three-month high, reflecting the community’s growing belief that the token’s “meme coin” status could translate into a more serious investment story.
“Support for ETF proposals from groups like House of Doge and the Dogecoin Foundation has helped DOGE transcend its meme origins, increasing its credibility,” Santiment wrote in its latest update.
While XRP’s social media discussion volume remains low relative to other leading assets, sentiment remains overwhelmingly bullish, with investors closely watching to see how clarification of XRP’s legal status could boost its chances of ETF approval following Ripple’s partial victory over the SEC last year.
The data highlights the increasing importance of social trends and investor sentiment in driving near-term momentum, especially for tokens on the verge of wider institutional recognition.
*This is not investment advice.
