DOGE Price Drops 13.74% in a Month Amid Grayscale ETF Renaming to GDOG

Grayscale Investments has announced the rebranding of its Grayscale Dogecoin Trust (DOGE) to Grayscale Dogecoin Trust ETF, with a new ticker symbol "GDOG." This name change is set to become effective on or around November 21, 2025, with the new ETF expected to begin trading on NYSE Arca on or about November 24, 2025. The Trust’s existing shares will continue to be valid and will not require any action from current investors. The move aligns with Grayscale’s broader strategy to modernize its product lineup and expand access to the digital asset market for institutional and retail investors.

The rebranding is part of a broader transformation in the ETF space for cryptocurrencies. Grayscale has long been a major player in the digital asset investment sector, offering exposure to various tokens through its family of trusts and ETFs. This transition from a trust to a more traditional ETF structure is a strategic shift that aims to increase liquidity and accessibility, while also complying with evolving regulatory frameworks.

The announcement coincides with a period of volatility for DOGE. On November 18, 2025, DOGE traded at $0.16173, representing a 0.56% decline over the previous 24 hours. Over the past week, the price has dropped 1.84%, while over a one-month period, it has fallen 13.74%. Year-to-date, the token has seen a more dramatic 49.11% decline. These figures reflect the broader trend of underperformance among meme coins, as institutional and retail traders alike remain cautious in a tightening macroeconomic environment.

Despite the price decline, Grayscale’s decision to rebrand its DOGE offering as an ETF underscores the growing legitimacy of meme coins within the broader financial system. The move is expected to attract new investors who may have been hesitant to directly purchase DOGE tokens, but are now able to gain exposure through a regulated and familiar investment vehicle. This aligns with the trend of increased ETF activity in the altcoin space, with multiple providers exploring new products to meet rising demand for diversified crypto exposure.

The Grayscale Dogecoin ETF follows a similar path to the REX-Osprey DOGE ETF (DOJE), which launched earlier this year and has been among the most active funds in the space. However, Grayscale’s offering is notable for being a direct holding of the underlying asset, unlike the futures-based structure used by other providers. This distinction could influence investor preference depending on market dynamics and regulatory developments.

While the launch of the Grayscale Dogecoin ETF has not yet affected the price directly, it is seen as a structural development with the potential to influence investor sentiment in the long term. Analysts remain cautious, with some warning that DOGE must reclaim key support levels to avoid further downward pressure. The broader market environment, characterized by declining retail participation and increased derivatives outflows, also adds to the bearish outlook for meme coins in the near term.