Dogecoin (CRYPTO: DOGE) cheered the launch of a brand new exchange-traded fund on Wall Avenue on Thursday that goals to offer 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 trade. A picture confirmed a billboard displaying congratulatory messages from the trade, with a stylized Shiba Inu canine on the backside.
“A lot congrats,” Dogecoin mentioned.
The 21Shares 2x Lengthy Dogecoin ETF, working below the ticker TSSD, is designed to offer traders with twice the day by day efficiency of Dogecoin, earlier than charges and bills.
“The ETF permits traders to realize leveraged publicity to Dogecoin by a regulated, exchange-traded construction that may be bought immediately by their financial institution or dealer,” in line with a press launch from 21Shares.
See Additionally: Dogecoin (DOGE) Value Prediction 2025, 2026, 2030
Dogecoin traders have been additionally anticipating the launch of Grayscale’s ETF, which is designed to trace 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 Power Index was approaching the oversold stage, indicating that there was nonetheless time for a attainable rebound.
Value Motion: On the time of writing, DOGE was exchanging palms at $0.1469, down 6.72% within the final 24 hours, and over 10% within the final week, information from Benzinga Professional.
Photograph Courtesy: alfernec on Shutterstock.com
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