DOGE (Dogecoin) has fallen by 2.65% in the last 24 hours.

Gate News Bot News, September 24, according to CoinMarketCap data, as of the time of writing, DOGE (Dogecoin) is currently priced at $0.23, falling 2.65% within the last 24 hours, with a high of $0.29 and a low of $0.23. The current market capitalization is approximately $35.404 billion, a decrease of $965 million compared to yesterday.

Dogecoin is an open-source peer-to-peer digital currency, represented by the Shiba Inu dog. It was originally created as a joke but has evolved into a practical cryptocurrency. The Dogecoin community is known for supporting each other, kindness, educating others about cryptocurrency, fundraising, entertainment, and creating memes. Its unofficial slogan is "Do Only Good Everyday."

Important news about DOGE recently:

1️⃣ 21Shares Spot Dogecoin ETF Progress

The 21Shares spot Dogecoin ETF has been launched on the U.S. Depository Trust & Clearing Corporation (DTCC), with the stock code TDOG. This marks an important step for DOGE into the institutional investment arena, potentially attracting more traditional financial investors and enhancing its market liquidity and recognition.

2️⃣ Grayscale plans to convert the DOGE trust into an ETF

Grayscale Investments has submitted an amended S-1 filing aimed at converting its closed-end DOGE trust into an ETF. If approved, the ETF will trade on the NYSE Arca under the ticker GDOG. Grayscale has chosen CEX as its primary broker and custodian, a move that could bring a broader investor base to DOGE.

3️⃣ Institutions continue to increase their holdings of DOGE.

Thumzup Media Corporation invested approximately $2 million to purchase 7.5 million DOGE, incorporating it into its strategic reserves. Meanwhile, on-chain data shows that large holders bought over 158 million DOGE. These large-scale accumulation actions reflect an increasing interest from institutions in DOGE, which may bring more demand support for DOGE.

From a technical perspective, the price of DOGE has fallen in the past 24 hours, retreating from a high of $0.29 to $0.23. Although the price is under pressure in the short term, considering the recent positive news, such as the potential launch of ETFs and continued accumulation by institutions, DOGE may still have upside potential in the medium to long term. However, investors should closely monitor the progress of ETF applications and their impact on the market.

This message is not an investment advice, and investors should be aware of market volatility risks.