Dogecoin Price Dip Sparks Institutional Buying Ahead of ETF Launch 📉
Dogecoin (DOGE), the largest meme cryptocurrency by market value, has experienced a near 5% price drop this week, settling around $0.26. However, this has not deterred institutional investors.
Bargain hunters have also seized the dip, accumulating over 680 million DOGE tokens, according to data from CoinDesk. This indicates a renewed confidence in the asset amidst the downturn.
The intensified institutional demand is tied to the anticipated launch of the first U.S.-listed spot Dogecoin ETF.
The Rex Shares-Osprey Dogecoin ETF (DOJE) is set to launch this week, providing investors an opportunity to gain exposure to DOGE in a regulated manner.
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