Dogecoin slipped 1.5% Tuesday, extending its weekly drop to 11% as the much-anticipated debut of its first exchange-traded fund failed to spark meaningful demand. The token trades below $0.24, with enthusiasm fading quickly despite being hailed as a milestone for meme coins.
Rex-Osprey’s spot Dogecoin ETF, launched on September 18, has attracted just $8 million in inflows so far. Day-one trading volume reached $17 million, but momentum has not carried forward. For now, the “ETF moment” looks more like a footnote in Dogecoin’s history than the breakout some expected.
By comparison, when the first batch of Bitcoin ETFs launched last year, the leading product brought in $390 million in inflows on its first day, while the broader group generated $4.6 billion in trading volume. The contrast underscores how Bitcoin has matured into an institutional asset, while Dogecoin remains largely speculative.
Still, meme coins are driven as much by sentiment as fundamentals. If retail hype reignites, the ETF structure could eventually provide a vehicle for inflows. For now, however, the Dogecoin ETF is struggling to find its footing.
