DOGE News: Dogecoin Beats the Blue Chips as D.O.G.E Calls it Quits
CoinDesk
Dogecoin outperformed major indices as Elon Musk's D.O.G.E initiative shut down, driven by anticipation for a DOGE ETF.Summary
Dogecoin (DOGE) climbed in Asian markets, surpassing the CoinDesk 20 Index and the memecoin index, despite the announced closure of Elon Musk's Department of Government Efficiency (D.O.G.E.). This rally was primarily fueled by renewed optimism surrounding the forthcoming launch of Grayscale's DOGE coin ETF (GDOG) and potentially Bitwise's rival product, providing a strong bullish catalyst. While DOGE gained over 3%, major cryptocurrencies like BTC and ETH saw weekly declines of about 9% and 10%. Interestingly, even with the D.O.G.E. news, cat-themed tokens saw a slightly larger market cap growth (4.2%) compared to dog-themed coins (4%).
(Source：CoinDesk)