Dogecoin ETF Launch Fails To Shine, Less Than $2 Million Inflows in 48 Hours
BeInCrypto
The launch of the first Dogecoin ETF saw disappointing inflows, totaling less than $2 million in its first 48 hours.Summary
The debut of Grayscale's Dogecoin ETF (GDOG) has been underwhelming, recording zero inflows on launch day and only $1.8 million by the second day. This performance contrasts sharply with expectations and other recent ETF launches, suggesting a lack of investor appetite despite Dogecoin's large market cap. On-chain indicators, specifically a surging Network Value to Transactions (NVT) ratio, reinforce this weak demand narrative, indicating that Dogecoin's valuation is rising faster than its actual network usage, which historically precedes price corrections. Trading at $0.149, DOGE remains trapped under a persistent downtrend, and without increased transaction activity or fresh demand, it risks falling toward $0.142.
(Source：BeInCrypto)