Published: September 10th, 2025
Altcoins are on the rise this week as meme-coin Dogecoin fronts a rally among the top ten alts. Traders look to have shifted focus from sagging Bitcoin to XRP, TRON, DOGE and SOL to locate gains.
At time of writing, data from CoinGecko showed that Dogecoin was trading at $0.25, making a 5.3 per cent jump over the previous 24 hours. TRON was up with a smallish gain of 2.4 per cent while XRP has followed suit with a two per cent gain in the same period.
Crypto markets including Bitcoin and Ethereum were up at time of writing following an ‘overreaction’ to last week's US unemployment figures, said a market analysis from CoinShares. Despite the recent selloff, the firm's analysts believe a ‘new alt-season’ could be in the works.
That view was supported by the news agenda after the launch of a Dogecoin exchange-traded fund by REX Shares was announced on Monday. The announcement by the ETF provider seemed to set the tone for both crypto and stock market sentiment.
Commenting on the hotting-up market, Erich Balchunas, an ETF analyst at Bloomberg tweeted on Tuesday that there are now 70-plus crypto ETFs waiting for SEC approval, ‘either to list directly or to list or list options. Everything from XRP, Litecoin and Solana to Doge, Trump-family releases, plus a whole lot more. Could be a wild ride.’
He noted in a later thread that TRON's upward path may have been helped along by founder Justin Sun's recent ‘PR stunt’ with the WLFI token. ‘He pulled in a lot of news coverage and mobilized the degen investor base.’
Sun made headlines last week after the Trump family's World Liberty Financial DeFi project banned his personal wallet for unauthorized tests of exchange deposits.
Given the market's current rate cut odds sit at above 90% and an ‘activated’ retail investor audience, CoinShares analysts believe the third quarter's historically bearish dynamic could make for an interesting altcoin market going into the year-end.
While many analysts see the fourth quarter as a bullish period, the short-term outlook remains tentative due to shifting macroeconomic winds.
The Federal Reserve is understood to be in a tight spot, as its sometimes conflicting mandate to stabilize prices and ensure maximum employment clashed full on after Friday's weak jobs report. Core inflation is also floating above three per cent.
Last week's Bitcoin lull and chilled-out crypto markets may not last long, experts say, as another round of US economic prints converge this week. From crypto to derivatives, stocks to forex, all eyes will be watching for reactions to Nonfarm Payroll revisions, Producer Price Inflation, and the latest Consumer Price Index.
Positive readings from each set of statistics could shape how America's central bank opts to handle inflation and calibrate rate cuts through the end of Q3. A rise in inflation could compel traders to re-think current positions, especially in risk assets like crypto.
A tweet from influential Wall Street investor newsletter The Kobeissi Letter said that the US jobs market has undergone sustained decline over the Summer, with consensus expecting this week's Nonfarm Payroll update to fall between -450,000 and -950,000.
The authors said markets face additional upheaval next week when futures tied to Wall Street's VIX index, often referred to as the ‘fear gauge,’ reach maturity on the same day the Federal Reserve releases its latest interest rate guidance. Meme coins and ETFs
Digital asset manager 21Shares led the way on low-risk options for investing in crypto's most famous meme coin when it launched a private Dogecoin Trust in March 2025.
An established player in the crypto trust space, the company argued that DOGE's multi- billion growth in market capitalization showed it had matured beyond its origins as an internet parody.
An announcement on the firm's website said Dogecoin had evolved from a cultural parody into ‘a modern digital finance instrument capable of improving greater investment inclusion while proving itself as an everyday payments tool.’
It quickly followed on with an application to the SEC to convert the Trust into a spot ETF, following a similar process undertaken for its BTC and ETH funds. Both began life as private offerings before later becoming spot ETFs.
21Shares was banking on a pro-crypto SEC leadership under the new Republican administration. Others followed suit and since then a number of asset managers have made spot ETF applications of their own.
‘Because it functions as a faster, lower-fee, and more scalable alternative to major coins like Bitcoin, Dogecoin gives retail customers and under-served small investors new options for gains that mainstream finance has failed to deliver,’ 21Shares said.
Crypto traders celebrated a landmark win last year when the SEC finally green-lit the very first spot Bitcoin ETF. Building on the success of that initial launch, issuers started preparing to expand ETF products into other digital assets.
Several firms have now filed for new spot ETFs linked to alt and meme coins like DOGE, SOL, XRP, and even the recently launched TRUMP token. Spot Solana ETFs were pegged to arrive on major exchanges before year's end.
Among the proposals are a Grayscale Solana ETF, VanEck Solana Trust, Bitwise Solana ETF, and Canary Solana ETF—all designed to track SOL, currently the fourth-largest cryptocurrency by market value.
Previous announcement of a spot Dogecoin ETF from 21Shares pushed the canine-themed token to a three-year high of $0.477. Rex Shares also submitted paperwork for a new product called the Rex-Osprey DOGE ETF, according to publicly available SEC records.
A similar momentum started building for XRP-based funds. Rex also applied for a Rex-Osprey XRP ETF, while both Canary and Grayscale filed their own XRP ETF applications. SEC regulators continue to review a fast-growing list of new crypto ETF filings.
