Dogecoin extended its rally this week as institutional accumulation and anticipation of a US exchange-traded fund (ETF) fueled investor enthusiasm.
CleanCore Solutions’ large purchase and a potential ETF debut next Thursday are drawing fresh attention to the original meme coin, even as it trades far below its 2021 record high.
ETF Delay Heightens Market Anticipation
Excitement around a US-listed Dogecoin ETF continues to build. Asset manager Rex-Osprey plans to list the fund under the ticker DOJE, offering traditional investors direct exposure to Dogecoin’s price moves.
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Bloomberg Senior ETF Analyst Eric Balchunas highlighted the novelty of an ETF “that has no utility on purpose,” and noted on X that the launch has been postponed to September 12.
“Another delay. Launching next week. Mid week. Prob Thur.,” he wrote, indicating a likely start around next Thursday.
Prediction markets reflect the optimism. Myriad, a platform operated by Decrypt’s parent company Dastan, shows traders assigning a 66.6% probability that Dogecoin will climb to $0.30 rather than drop to $0.15, up about 15% from a week earlier.
CleanCore’s Strategic Accumulation Boosts Price
Dogecoin (DOGE) rallied nearly 20% over the past week to about $0.25, its highest level since mid-August, according to CoinGecko. No other top-ten cryptocurrency, excluding dollar-pegged stablecoins, matched this performance. The surge followed CleanCore Solutions’ announcement of two substantial Dogecoin purchases, lifting its holdings to more than 500 million DOGE valued at over $125 million.
CleanCore, listed on the NYSE American as ZONE, works with the Dogecoin Foundation’s commercial arm, House of Doge, to establish Dogecoin as a reserve asset and promote wider use in payments, tokenization, and staking-like products. ZONE’s shares have gained about 6% this week and more than 200% since the start of the year, reflecting investor confidence in the company’s crypto-focused strategy.
Despite the recent rally, DOGE remains well below its 2021 all-time high of $0.73. Whether ETF inflows and continued institutional buying can sustain momentum is a key question for investors watching the evolving market dynamics.
Source: https://beincrypto.com/dogecoin-climbs-as-institutional-demand-grows-etf-listing-delay/