Following a period of price declines, attention is turning to whether progress on a potential DOGE ETF and new real-world uses can influence its market performance.
Progress on a Dogecoin ETF
Financial firms are advancing plans for Dogecoin exchange-traded funds (ETFs), with a recent filing indicating a Bitwise
ETF could launch in November. In another sign of movement, firms have also begun to disclose proposed
fees for these potential products.
Trading activity rises despite price drops
Dogecoin's price fell
↘33%
over the past month, a larger decline than the
↘32%
memecoin category average and competitor SHIB's
↘22%
drop. In contrast, DOGE's daily trading volume surged
↗16%
, which occurred as volume in the broader crypto market fell by
↘18%
.
Dogecoin finds new real-world use
Dogecoin is expanding its presence beyond digital trading and into physical consumer goods. The asset is now included in a new series of Currency Cards
from Cardsmiths that contain actual DOGE.