Part 7/12:
Market Dynamics & Speculation: DOGE remains relatively stable compared to other meme coins, partially due to its potential adoption in payment systems—exasperated by Elon Musk’s public interest, including an amended X logo with a Dogecoin emblem. The first ETF by Grayscale launched on November 24th, pulling in a modest $1.4 million for its first day, with subsequent inflows totaling over $70 million.
Past Market Movements: An earlier Rex Osprey DOGE ETF, which was not a spot ETF but tracked Doge’s price, garnered $54 million immediately after launch, significantly influencing Doge’s price with a 12% rally. However, the current spot ETF has seen tepid initial enthusiasm, partly due to limited awareness about its nature.