Multiple Factors: Is Dogecoin Set to Surge or Fall? Plus, What Will Be the Size of SharpLink’s Ethereum Treasury?

Do you have a strong take on the U.S. Open men’s singles champion, the future of Dogecoin’s price, or SharpLink Gaming’s strategy to accumulate 1 million Ethereum (ETH)?

Share your insights on these trending topics and more through Myriad Markets‘ prediction platforms on the Ethereum layer-2 networks Abstract and Linea.

Prediction markets are rapidly gaining traction as one of the most engaging consumer applications in crypto, allowing users to wager on a variety of topics, from sports and pop culture to token prices and corporate strategies.

Here’s an overview of the most compelling Myriad markets this week.

(Disclaimer: Myriad Markets is a product of Decrypt’s parent organization, DASTAN.)

Will SharpLink (SBET) amass 1M ETH by September 16?

Market Open: August 6
Market Close: September 14
Volume: $8.96K
Link: Check the latest odds on the “Will SharpLink (SBET) Hold 1M ETH by September 16?” market on Myriad

Based in Minneapolis, SharpLink Gaming implemented an Ethereum treasury strategy in April, already gathering over $3.6 billion worth of the second-largest crypto asset.

The company aims to accumulate 1 million ETH as its first major target, achieving nearly 80% of this goal, having secured nearly 800,000 ETH as of the latest announcement on Tuesday.

Predictors on Myriad are tasked with forecasting whether the company will reach its objective within the next few weeks and achieve 1 million ETH by September 16.

As of Thursday morning, analysts give the company about a 56% chance of completing the task, a decline of roughly 14% in the last week despite SharpLink’s recent addition of over 55,000 ETH.

In its Tuesday announcement, the company disclosed it holds around $200,000,000 cash, ready for ETH purchases, and has raised an extra $360 million via its at-the-money (ATM) offering for similar purposes.

This substantial purchasing capacity could enable it to acquire around 122,000 ETH based on current Ethereum prices. However, even a significant purchase of 122,000 ETH would still leave SharpLink approximately 80,000 ETH short of its goal.

Moreover, the firm has previously only purchased over 100,000 ETH on two occasions, according to data from StrategicETHReserve.xyz.

Nevertheless, SharpLink might not require a substantial purchase to achieve its objective by September 16.

It only needs to secure roughly 67,000 ETH for each of the upcoming three weeks to complete the task—an amount it has surpassed in six of its last seven Ethereum acquisitions.

What’s Next? The company usually announces its acquisitions on Tuesdays. Three Tuesdays remain before the market resolves.

Will Sinner capture the U.S. Open men’s singles title?

Market Open: August 14
Market Close: September 7
Volume: $30.6K
Link: Check out the latest odds on the “Will Sinner Win the U.S. Open Men’s Singles Title?” market on Myriad

The tennis season culminates in New York City with the U.S. Open, the final Major Championship of the calendar year.

Defending champion and recent Wimbledon winner Jannik Sinner leads the field, and Myriad predictors are exploring if he will secure the trophy again. 

As play advances into the second round, analysts are divided, giving Sinner a 51.4% chance of clinching his second consecutive U.S. Open win. However, opponents like Carlos Alcaraz and 24-time major champion Novak Djokovic remain in contention.

Nonetheless, these odds align with traditional sportsbooks like DraftKings and FanDuel, which list Sinner at -105 in American odds, indicating about a 51.22% implied probability.

Sinner’s odds have seen about a 4% increase on Myriad over the past week, as his path has become easier with the withdrawal of top British talent and #5 seed Jack Draper.

Conversely, Alcaraz, who is the second-highest favorite to win, faces a more challenging route to the finals, likely having to contend with Americans Ben Shelton or Taylor Fritz, and possibly even Djokovic, all of whom are in his bracket.

What’s Next? Sinner will compete in his second-round match at 12:30p.m. ET on Thursday.

The future of Dogecoin: Will it surge to $0.30 or taper to $0.15?

Market Open: August 25
Market Close: Open Until Resolved
Volume: $924
Link: Check the latest odds on the “Dogecoin’s Next Move: Pump to $0.30 or Dump to $0.15” market on Myriad

Bitcoin and Ethereum have reached new all-time highs this year—sometimes even in the same month—but Dogecoin is still over 69% below its peak of $0.73 from 2021.

However, whales are still accumulating the meme coin, with its market cap remaining within the top 10 of all cryptocurrencies according to CoinGecko data.

A new prediction market on Myriad invites predictors to anticipate the token’s trajectory—will it pump to $0.30 or dip to $0.15? With the current token price hovering around $0.22, analysts appear divided.

The likelihood of a pump to $0.30 is slightly higher than a dump, currently rated at 54%, as Dogecoin has gained around 2% in the last 24 hours.

The token has surged over 100% this year but would require an additional 33% increase to reach $0.30—a level it hasn’t sustained since February.

What potential catalyst could drive it higher? An immediate boost is unlikely from an ETF. The Securities and Exchange Commission (SEC) recently announced a delay in its decision regarding a spot Dogecoin ETF application from Grayscale.

Still, believers are accumulating the asset, with an analyst recently telling Decrypt that “long-term investors [are] positioning for potential upside.”

Will these supporters be rewarded with $0.30 DOGE soon? Notably, Dogecoin is the only non-stablecoin asset in the top 10 cryptocurrencies that hasn’t achieved a yearly all-time high, suggesting its potential for a significant surge—though the outcome remains uncertain.

What’s Next? Despite delays, decisions on spot ETFs for Dogecoin and alternative cryptocurrencies may be reached by October, according to Bloomberg ETF analyst Eric Balchunas.