Dogecoin (CRYPTO: DOGE) cheered the launch of a brand new exchange-traded fund on Wall Road on Thursday that goals to supply leveraged publicity to the favored meme coin.
Leveraged ETF For DOGE
Dogecoin’s official X deal with reacted to the debut of the 21Shares 2x Lengthy Dogecoin ETF on the Nasdaq inventory alternate. A picture confirmed a billboard displaying congratulatory messages from the alternate, with a stylized Shiba Inu canine on the backside.
“A lot congrats,” Dogecoin stated.
The 21Shares 2x Lengthy Dogecoin ETF, working underneath the ticker TSSD, is designed to supply buyers with twice the each day efficiency of Dogecoin, earlier than charges and bills.
“The ETF permits buyers to realize leveraged publicity to Dogecoin by means of a regulated, exchange-traded construction that may be bought straight by means of their financial institution or dealer,” in response to a press launch from 21Shares.
See Additionally: Dogecoin (DOGE) Worth Prediction 2025, 2026, 2030
Dogecoin buyers had been additionally anticipating the launch of Grayscale’s ETF, which is designed to observe the spot worth of the main memecoin.
DOGE Not Over The ‘Moon’
Regardless of the anticipation, DOGE’s worth tumbled on Thursday, weighed down by the market’s total gloom.
The Transferring Common Convergence Divergence indicator, which compares two exponential shifting averages of an asset’s worth, flashed a “Promote” sign for DOGE, in accordance to TradingView.
The Relative Energy Index was approaching the oversold stage, indicating that there was nonetheless time for a potential rebound.
Worth Motion: On the time of writing, DOGE was exchanging fingers at $0.1469, down 6.72% within the final 24 hours, and over 10% within the final week, knowledge from Benzinga Professional.
Photograph Courtesy: alfernec on Shutterstock.com
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