Dogecoin Rallies Ahead of ETF Launch Today – Here’s What to Expect
Dogecoin (DOGE) worth has briefly rallied on Monday following a gradual decline ever since its peak in November 2024. The dog-themed token marked a each day achieve of over 3%, forward of newly permitted spot ETFs listings on NYSE Arca.
DOGE’s optimism arises because the memecoin is gearing up for the launch of its DOGE ETF product later at this time. The New York Stock Exchange approved the trading of the Grayscale Dogecoin Trust ETF Shares final Friday.
Prior to the launch, Bloomberg ETF analyst Eric Balchunas predicted that the fund would launch on November 24, based mostly on the SEC steering.
ETF analyst Nate Geraci referred to as the launch “as extremely symbolic” and “monumental crypto regulatory shift over the previous 12 months.”
“GDOG may already be prime 10 ticker image for me,” he wrote on X.
DOGE Up 3% in 24H – Will it Surge Further?
The native token DOGE rose almost 3% over the past 24 hours, outperforming Bitcoin (-1.4%) and Ethereum (-0.8%).
Further, DOGE’s ETF information amplified its standing because the “blue-chip” memecoin, attracting sidelined capital. The memecoin is buying and selling at $0.146 at press time, per CoinMarketCap data.
However, per Coinglass, whales have offered 200 million DOGE, value $29 million, throughout the rally, capping features.
The temporary rally, stemming from the upcoming ETF launch, can also be traditionally attributed to Elon Musk’s mentions on X.
The White House confirmed that the Department of Government Efficiency (D.O.G.E.) has quietly ceased to function regardless of having eight months left on its mandate’s expiry. Though the information is unrelated to the token, the mere point out of DOGE has triggered the token’s worth surge.
Analysts word that although the Dogecoin ETF launch marks a milestone, broader crypto headwinds and whale promoting counsel cautious optimism.
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