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Dogecoin Surges 14% in 24 Hours on News of the First U.S. DOGE ETF
Bulls have returned to the cryptocurrency market, and Dogecoin is now among the most profitable assets. Over the past 24 hours, the meme coin’s price has risen by nearly 14%, marking the best performance among large-cap cryptocurrencies.
Over the past week, Dogecoin has gained 38%, with its current price at $0.2963, an eight-month high. The meme token is now aiming to reclaim the $0.30 level, last seen during January’s bull run.
The sharp rise of the meme coin came amid news of the first U.S. DOGE ETF. Earlier this week, Bloomberg ETF analyst Eric Balchunas announced that the Rex-Osprey Doge ETF (DOJE) would begin trading on Friday. The statement sparked major excitement in the crypto community.
However, later another Bloomberg analyst, James Seyffart, said that Dogecoin ETF trading would start next week. Indeed, the ETF was not launched last Friday as his colleague had expected.
Beyond the ETF, major organizations are also actively working with Dogecoin, fueling the cryptocurrency’s growth. CleanCore Solutions, a U.S.-registered company, recently revealed that just a few days after entering the market it had accumulated more than 500 million DOGE. Within 30 days, the firm plans to amass 1 billion DOGE.
See also: "ChatGPT Predicts Bitcoin Will Trade at $135,000 on October 1"
