Dogecoin News Today: Doom or Dawn for Dogecoin? ETF Catalysts and Burn Rate Surges Defy Recent Slump

Dogecoin (DOGE) and Shiba Inu (SHIB) have both experienced significant declines in recent weeks, with DOGE dropping 9.5% to $0.158 and SHIB falling 10.5% to $0.0587 over the past seven days according to market data. Despite the downturn, analysts and market participants are pointing to structural catalysts that could reverse the trend. Grayscale is poised to launch the first Dogecoin ETF as early as November 24, following a favorable 20-day SEC review window, while Shiba Inu's burn rate surged 23,864% in 24 hours, signaling accelerating supply destruction. Meanwhile, a new leveraged ETF from 21Shares aims to double exposure to Dogecoin, reflecting growing institutional interest in meme coins.

The Dogecoin ETF timeline has sparked optimism among investors. Bloomberg Senior ETF Analyst Eric Balchunas noted that regulatory guidance strongly favors the launch, contingent on an exchange filing. This follows 21Shares' introduction of a 2x leveraged DOGE ETF (TXXD) on Nasdaq, which mirrors the token's daily performance with amplified gains and risks. Michael Friedman, 21Shares' U.S. Capital Markets director, [emphasized the product's alignment with "the momentum we've seen from the community"] https://decrypt.co/349374/21shares-doubles-dogecoin-bets-2x-leveraged-etf, hinting at potential expansions into other altcoins.

Shiba Inu's fundamentals, however, present a mixed picture. While its burn rate explosion driven by a single 14.4 million SHIB transaction has reduced circulating supply, the token remains 90% below its 2021 peak. Binance influencer Jack cited a "trifecta of bullish signals" including declining exchange reserves and buyer activity at dips according to market reports, but Motley Fool analysts caution against investing in SHIB without clear utility-driven growth according to analysis. Japan's recent addition of SHIB to its regulatory "Green List" alongside Bitcoin and Ethereum has bolstered its credibility, yet the token's long-term viability hinges on ecosystem developments like its new Bitget Wallet integration.

The U.S. economic calendar this week includes critical data on inflation, employment, and manufacturing, which may influence broader risk appetite. Volatile readings could pressure crypto markets, particularly as the Federal Reserve remains hesitant to cut rates according to market analysis. X Financial's Q3 results also highlight rising credit costs, underscoring macroeconomic fragility.

For Dogecoin, the convergence of ETF demand and cultural momentum bolstered by Bit Origin's $500 million DOGE accumulation plan suggests a potential inflection point. However, technical analysts warn that DOGE's pullback to $0.15 lacks immediate support, requiring swift recovery to avoid further losses. Shiba Inu's Shibarium network, meanwhile, shows early signs of throughput growth, with daily transactions rising from 1,850 to 2,720 in a single day, but its token's speculative nature remains a barrier to mainstream adoption.