Leading Crypto Asset Manager Says Dogecoin More Than an Internet Culture

Crypto asset manager 21Shares has reiterated its belief in Dogecoin, highlighting that the meme coin is more than just an internet culture. 

In a recent X post, 21Shares emphasized that Dogecoin is driven by a community committed to daily positive impact. The firm highlighted the coin’s practical utility, including its rapid transaction speed, minimal fees, and the ability to facilitate microtransactions and tipping.

Per a previous report, 21Shares noted that over the past ten years, Dogecoin (DOGE) has experienced an extraordinary increase of 130,000%, which equates to an annualized growth rate of 127%. According to the report, this performance has established Dogecoin as the top-performing asset among the top 25 cryptos by market capitalization.

Dogecoin’s Technological Advantages

According to 21Shares, Dogecoin’s architecture is specifically designed for efficient use, offering block confirmations every minute—10 times faster than Bitcoin. This speed ensures quick transactions, and coupled with its low fees, makes Dogecoin an ideal choice for small payments and everyday transactions.

Although Dogecoin has no cap on its supply, its mining system remains consistent and predictable, the firm noted. Every minute, the network mines 10,000 DOGE, contributing to an annual addition of about 5.25 billion tokens. Over the years, this fixed rate of issuance has led to a natural decrease in inflation, while maintaining network security and providing consistent rewards to miners.

Widespread Adoption and Payment Use

21Shares also noted how Dogecoin has gained recognition for its potential as a payment method, with major companies such as Tesla, AMC Theatres, and Newegg accepting it.

Thanks to its low transaction costs and quick processing, Dogecoin has proven to be an effective solution for routine payments. Crypto payment platforms like BitPay have further facilitated its use by enabling thousands of merchants worldwide to accept DOGE.

Recently, Dogecoin made headlines when The Open House Group, a leading Tokyo Stock Exchange-listed real estate company, added the meme coin to its list of supported payment methods. 

Institutional Exposure Through the Dogecoin ETP

Notably, 21Shares’ endorsement of Dogecoin goes beyond mere appraisals. The asset manager recently partnered with the House of Doge to launch the first Dogecoin ETP endorsed by the Dogecoin Foundation. 

This new financial product provides institutional investors a regulated way to gain exposure to Dogecoin. Also, barely a week ago, 21Shares joined the race to launch a Dogecoin ETF in the U.S., filing an S-1 registration with the SEC. Other firms like Bitwise and Grayscale are also looking to launch Dogecoin ETFs.