Dogecoin Drops 1.04% Despite ETF Launch and Corporate Adoption

Dogecoin's latest price was $0.2788, down 1.043% in the last 24 hours. The cryptocurrency has recently made significant strides in the market, particularly with the launch of the first U.S. spot DOGE exchange-traded fund (ETF), called DOJE. This ETF began trading on the Cboe BZX exchange in Chicago and quickly exceeded expectations, recording nearly $6 million in trading volume within its first hour. The ETF is issued through a collaboration between REX Shares and Osprey Funds, two companies known for their focus on crypto-related investment products. Unlike most crypto ETFs, DOJE was registered under the Investment Company Act of 1940, allowing for more actively managed approaches. The ETF offers exposure to Dogecoin through a wholly owned subsidiary registered in the Cayman Islands, creating a distinct legal structure compared to traditional spot Bitcoin and Ethereum ETFs. The launch of DOJE coincided with the rollout of the first U.S. spot XRP ETF, XRPR, also managed by REX and Osprey. Both ETFs mark milestones in bringing alternative crypto assets into regulated U.S. investment markets. Dogecoin’s inclusion as the centerpiece of a U.S. ETF represents a significant step for a cryptocurrency often dismissed as a meme coin. Analysts said DOJE’s early success highlights growing institutional interest in assets once thought to be favored only by retail traders. Additional Dogecoin ETFs could soon follow, with Grayscale and Bitwise having filed proposals under the Securities Act of 1933. Analysts expect decisions on those applications by October 17, with several predicting approvals are highly likely. Meanwhile, Dogecoin’s momentum may also be receiving support from new corporate adoption. CleanCore Solutions, a publicly traded cleaning and disinfecting company, announced that it had accumulated an additional 100 million DOGE, bringing its total holdings to 600 million DOGE. CleanCore has partnered with the Dogecoin Foundation’s commercial arm, the House of Doge, and has outlined long-term plans to accumulate up to 5% of Dogecoin’s circulating supply. The approval of spot Bitcoin ETFs in January 2024 marked a turning point for digital asset markets. After years of resistance and a court battle with Grayscale, the U.S. SEC relented, opening the door to mainstream adoption. Since then, more than $57 billion has poured into spot Bitcoin ETFs. Ethereum followed in July 2024, with BlackRock and rivals launching funds tied to the second-largest cryptocurrency. A year later, Rex Financial and Osprey Funds expanded the market further with the first Solana ETF. Now, the SEC has taken another decisive step. On Wednesday, the regulator approved new listing standards for major U.S. exchanges, including Nasdaq, Cboe BZX, and NYSE Arca. The move removes the need for case-by-case reviews and sets clear rules for commodity-based trust shares, clearing the way for a broader range of spot crypto ETFs. Under the new framework, the path from filing to launch could shrink to as little as 75 days, compared with up to 240 days previously. Thumzup Media Corporation has taken another bold step in its transition from a social media platform to a crypto-focused business. The company in Los Angeles has announced a new acquisition of DogeCoin, increasing its treasury by 7.5 million DOGE. The purchase, which is worth about $2 million, was revealed in a recent filing with the U.S. Securities and Exchange Commission. This move is Thumzup’s first Dogecoin purchase in the open market. Despite the continued volatility in the broader crypto market, the company is clearly confident in the long-term value of the memecoin. In the last few months, Thumzup has released a series of announcements that indicate a further commitment to Dogecoin and mining operations. Earlier this year, Thumzup launched its digital assets treasury with an initial investment of one million Bitcoin. However, Dogecoin has become the focus of attention. In August, the company agreed to purchase Dogehash Technologies, a North American mining company that owns and currently operates 2,500 Scrypt ASIC miners for Dogecoin and Litecoin. A total of an additional 1,000 rigs will be added by late 2025 as part of the deal. The shareholders’ approval has been secured and Dogehash shareholders will be converted into 30.7 million Thumzup shares. The company will be rebranded to Dogehash Technologies Holdings after the merger and will start trading under the new ticker XDOG. This means a significant change in the identity and future of Thumzup. Thumzup was founded back in 2020 as a platform where users would get rewarded for sharing branded content on social media. In the past year, it has quickly shifted gears and is now wanting to become a major player in the crypto space. This transformation is supported by sound financial steps and endorsements from prominent names like Donald Trump Jr. In order to facilitate this transition, the company has also bolstered its executive team by bringing in new advisors to its advisory board. These additions are likely to lead the firm in its expansion into mining, treasury management, and infrastructural development. The Dogecoin itself is attracting wide corporate attention as well. CleanCore Solutions has recently revealed that it now owns more than 500 million DOGE in its treasury. This achievement takes the company halfway towards its goal of 1 billion DOGE. The project is being led by the crypto division of CleanCore, House of Doge, and supported by the Dogecoin Foundation. The market has also seen a boost from speculation about a potential Dogecoin ETF. And because of this fact, there has been more institutional interest in the coin. More businesses are looking at ways to get exposed to DOGE, either directly by buying it or through mining activities. In conclusion, Thumzup’s $2 million Dogecoin purchase is more than just a financial transaction. It represents a long-term dedication to ensuring a strong Dogecoin ecosystem. By acquiring foundations, developing infrastructure, and growing the treasury, the company is preparing itself to be a key player in the future of memecoin-based finance. Dogecoin remains one of the most recognizable names in the crypto market, largely due to its enduring meme culture and its unique place in the digital asset narrative. Created as a joke, DOGE has since captured the loyalty of millions and become an integral part of retail-driven trading cycles. Today, analysts are once again paying attention as institutional inflows reshape the market. With Bitcoin and Ethereum ETFs already attracting billions, speculation has emerged about whether meme coins like Dogecoin could benefit from the spillover effect. Some analysts are now projecting that DOGE could climb as high as $0.50, provided ETF demand continues to push liquidity into the broader market. Alongside legacy meme coins, newer entrants such as MAGACOIN FINANCE are also gaining traction, presenting alternative high-upside bets for investors seeking fresh opportunities. Dogecoin has historically thrived during waves of speculative enthusiasm, but this time the context is different. The approval of multiple crypto ETFs in 2025 has changed the liquidity landscape, channeling institutional money into the ecosystem at unprecedented levels. While these products do not directly hold DOGE, their success is altering how traders allocate capital. Retail investors in particular often mirror institutional confidence, seeking opportunities in meme-driven assets once Bitcoin and Ethereum establish momentum. With DOGE already integrated into several payment experiments and maintaining strong cultural resonance, analysts argue that it is well-positioned to ride this secondary wave. If ETFs continue attracting inflows at current rates, the market could see liquidity spill over into meme coins, accelerating a run toward the $0.50 target being discussed in trading circles. At present, Dogecoin trades well below the levels seen during its 2021 peak, when it briefly touched $0.73. Supporters say this leaves room for substantial upside if momentum returns. The logic is straightforward: if Dogecoin could achieve such highs without institutional tailwinds, the current environment of ETF-driven liquidity provides a stronger foundation for a repeat performance. Furthermore, DOGE continues to enjoy unparalleled brand recognition. From Elon Musk’s references on social media to its use in grassroots online communities, Dogecoin’s cultural footprint gives it a staying power that many meme tokens lack. Analysts emphasizing the $0.50 target see it less as a speculative stretch and more as a reversion to the historical highs, catalyzed by the broader wave of ETF enthusiasm lifting the market. While Dogecoin commands legacy status, new tokens are emerging to capture speculative capital with higher upside potential. MAGACOIN FINANCE is one such project, quickly becoming a favorite among retail traders and analysts alike. The project distinguishes itself through its completed HashEx and CertiK audits, giving it a legitimacy that sets it apart from most meme-inspired launches. The Dogecoin community celebrated a significant milestone as physical representations of the cryptocurrency were successfully delivered to the lunar surface. This achievement came through the 'DOGE-1 Mission to the Moon', facilitated by a collaborative effort involving Geometric Energy Corporation. The physical Dogecoin tokens, riding aboard the Nova-C lunar lander named 'Odysseus', completed their journey via a SpaceX Falcon 9 launch. This event marked a notable instance of a physical cryptocurrency reaching space. Significant marketing visibility was achieved through a strategic partnership within the motorsport arena. Stake.com, operating as a prominent crypto betting platform and casino, solidified its position as the Title Partner for the Stake F1 Team Sauber. More directly, Dogecoin secured branding presence as a co-partner on the race suits of drivers Valtteri Bottas and Zhou Guanyu for the Formula 1 Grand Prix events held in Australia and China during the 2024 season. This placement provided substantial exposure to a vast global audience. Further enhancing its accessibility within the crypto ecosystem, Dogecoin became integrated into new trading platforms. Bybit expanded its offerings by introducing perpetual contracts for Dogecoin, enabling traders to engage with leveraged positions on the cryptocurrency. Simultaneously, Gate.io integrated Dogecoin into its versatile Gate Wallet. This integration empowers users to actively manage their holdings by swapping DOGE with numerous other cryptocurrency assets directly within the wallet environment, enhancing flexibility. Adding a novel promotional element, the exchange platform BYDFi launched a dedicated Moon Mission landing page. This initiative offered users engaging promotional activities tied directly to the Dogecoin brand. Market infrastructure developments continued with Gate.io further bolstering its support. The platform enabled liquidity provision and staking options specifically for Dogecoin, allowing its user base to participate in these decentralized finance (DeFi) activities involving DOGE. These integrations represent ongoing efforts to increase Dogecoin's utility and participation within broader crypto financial mechanisms.