Dogecoin Soon on Nasdaq ?
The cryptocurrency market is abuzz with the imminent arrival of a Dogecoin fund on the Nasdaq, the famous American stock exchange. With Dogecoin’s price recently surging by 20%, this announcement signals a strong interest from institutional investors in memecoins.
Launched in 2013 as a “fun” virtual currency, Dogecoin has unexpectedly gained momentum in recent years. Fueled by the popularity of the Internet and social networks, this token has gained legitimacy, now attracting major financial institutions.
According to reports, the Nasdaq is working with regulators to set up a publicly traded fund that would track Dogecoin’s price movements. This unprecedented initiative will need to meet various requirements in terms of transparency and security to obtain the necessary approvals.
For both retail and institutional investors, this Dogecoin Fund represents a new way to get exposure to the most popular cryptocurrencies among the general public. Beyond technical fundamentals, the “meme effect” is now a significant factor in valuing certain cryptocurrencies. As indicated by Mario Nawfal, there is a 59% chance of a DOGE ETF being approved this year according to Polymarket.
The Growing Influence of “Memecoins” in the Crypto Ecosystem
The remarkable success of Dogecoin illustrates the rise of “memecoins” in the cryptocurrency market. These assets, often born as jokes, are now managing to compete against historical cryptocurrencies like Bitcoin or Ethereum.
This trend challenges traditional cryptocurrency valuation models. It urges investors to consider new parameters, such as community engagement or virality on social networks, to identify the next market “winners.”
By launching this Dogecoin Fund, Nasdaq aims to assert its role as a pioneering marketplace in the rapidly expanding cryptocurrency universe. This initiative could pave the way for new investment opportunities around “memecoins” for investors.
The upcoming arrival of a Dogecoin Fund on Nasdaq marks a significant turning point in the institutional adoption of so-called “meme” cryptocurrencies. Beyond speculation, it demonstrates the growing influence of these assets in the crypto ecosystem. Investors will need to navigate this new era, where trends and the “meme effect” play as crucial a role as fundamentals.
Trader Alan suggests that DOGE is following a rare “diamond” pattern and could continue its uptrend soon.
If you want to buy Dogecoin (DOGE), the memecoin is available on Bitget. Here are the key steps to purchase it easily:
- Create a Bitget account
Sign up on bitget.com with your email or phone, validate the code sent, and enable 2FA for your account’s security. - Verify your identity (KYC)
Submit an ID document to complete the KYC verification, necessary for trading. - Add funds
Deposit cryptocurrencies (USDT, BTC) or fiat via a credit card (Visa, Mastercard) or bank transfer in the “Deposit” section. - Access the DOGE market
Go to the “Spot Market,” search for “DOGE,” and select the DOGE/USDT pair. - Make the purchase
Choose a market order (immediate purchase) or limit order (set price), specify the quantity, and confirm.
