Dogecoin ETF Launch to Help Avoid a DOGE Price Crash to $0.7?

Meanwhile, Bloomberg ETF analyst Eric Balchunas confirmed the news, highlighting the growing institutional interest in altcoin-focused funds. He also noted that Grayscale is launching the XRP ETF on Monday and the Grayscale Chainlink Trust (GLNK) is “coming soon.”

This development comes on the heels of 21Shares 2X Long Dogecoin ETF securing listing approval on Nasdaq under the ticker “TXXD”.

The new fund aims to provide leveraged exposure to Dogecoin, offering investors twice the daily performance of the meme coin, minus fees and expenses.

The launch of the Dogecoin ETF is part of a broader trend, with institutions increasingly betting on altcoin-focused funds.

Alongside DOGE, XRP, SOL, Chainlink, and other altcoins are also seeing significant interest, with ETFs in the pipeline.

DOGE Price Slips, More Dip Ahead？

Despite the Dogecoin ETF hype, DOGE price has continued to stay in the negative territory. The market experts have cited the latest dip in the meme coins price to the broader crypto market retreat this week.

Besides, the market cap of the broader meme coin space was down nearly 3% to $38.42 billion at the time of writing.

However, Dogecoin price traded near the flatline at $0.1383, with its trading volume falling 19% to $2.85 billion.

The crypto has touched a 24-hour high and low of $0.1431 and $0.1341, respectively. Meanwhile, as the support at $0.14 failed, a renowned analyst has fueled speculations over a further fall in the meme coin price.

For context, in a recent X post, analyst Ali Martinez said that if DOGE price fails to reclaim the $0.14 mark, it could slip to as low as $0.07.

DOGE Price Analysis | Source: Ali Martinez, X

Having said that, investors are keeping close track of Dogecoins recent performance, especially with the soaring hype of the upcoming ETF launch.