The much-ballyhooed Dogecoin ETF has had a rather underwhelming debut. In fact, if you were expecting a performance to rival the thrilling launches of XRP and Solana ETFs, well… keep dreaming. Despite Dogecoin’s pop-culture status and the impassioned, if somewhat bewildering, dedication of its followers, the ETF has failed to stir any serious institutional interest or cause a stampede of retail investors. In fact, the numbers from day one were shockingly pedestrian, even for an asset class that trades primarily on memes and vibes.
Dogecoin ETF Launches With Muted Results
The long-anticipated Dogecoin ETF has stumbled out of the gate, its early performance resembling the energy of a soggy toast rather than a sizzling debut. The sole contender in this lackluster race, Grayscale’s Dogecoin ETF (GDOG), hasn’t exactly set Wall Street alight. Despite Grayscale’s impressive track record with Bitcoin and Ethereum funds, it seems that when it comes to DOGE, the magic just isn’t there-at least not yet.
According to SoSoValue (and frankly, it feels a bit too fitting), Grayscale’s Dogecoin ETF saw a measly first-day trading volume of $1.41 million. Yes, you read that right-$1.41 million. This was followed by a cumulative net inflow of $1.8 million, which might sound impressive if you’re, say, a lemonade stand on a cold, rainy day. But, surprise surprise, day two was even worse. Inflows dropped by a staggering 73%, with only $381,650 in fresh investments. It seems the excitement evaporated quicker than your average cryptocurrency after a tweet from Elon Musk.
Earlier this year, the Dogecoin, Solana, and XRP ETFs were all positioned as the “next big thing” for investors. But as the SEC confirmed the approval of the Dogecoin ETF on November 21, any potential for dramatic performance quickly waned. Although DOGE saw a brief price uptick, the ETF has failed to catch the frenzied enthusiasm many had expected. The market’s tepid reception seems to be saying, “DOGE, we love you as a meme, but as a serious investment? Not so much.”
Even the sharpest minds in the ETF world, such as Eric Balchunas, had initially pegged GDOG’s first-day inflows at a healthy $11 million. By launch day, that number was revised up to $12 million. Alas, it didn’t even come close. $1.41 million was the best it could do. Hardly a stellar debut. Let’s call it what it is: a disaster wrapped in a Shiba Inu meme.
DOGE ETF Lag Behind Solana And XRP ETFs
If you’re looking for the antithesis of GDOG’s flop, look no further than the XRP ETF. Launched on November 14, the XRP ETF raised a staggering $243.05 million on its first day. That’s millions, not pennies. It made Dogecoin’s debut look like an underfunded school play. And, to really rub it in, XRP has continued to outperform, recording nearly ten consecutive days of inflows, totalling a cool $622.1 million in cumulative net inflows. Seems like someone knows how to get people excited about digital assets that aren’t dog-related.
Not to be outdone, the Solana ETF also put Dogecoin’s ETF launch to shame. When it debuted in late October, it raked in over $64 million. While not quite the fireworks display that XRP put on, it still left DOGE in the dust, outpacing it by a dramatic 4,439%. And since then, Solana has continued to see steady, consistent inflows, with a grand total of $621.32 million. One might say that Solana knows how to play in the big leagues, while Dogecoin is still learning how to tie its shoes.
Read More
- UNI PREDICTION. UNI cryptocurrency
- APT PREDICTION. APT cryptocurrency
- EUR IDR PREDICTION
- EUR PHP PREDICTION
- USD PHP PREDICTION
- EUR THB PREDICTION
- SPX PREDICTION. SPX cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- EUR AED PREDICTION
- Gold Rate Forecast
2025-11-27 02:45