Dogecoin, the popular memecoin, continues to show positive trends amidst market enthusiasm, despite delays in the launch of the first American ETF.
Rising Dogecoin Value
Despite the delay of the Rex-Osprey DOGE ETF, Dogecoin's price rose by 4%, reaching $0.2603. This rise reflects a new market maturity, which incorporates regulatory uncertainties as a norm in the approval process.
Delay of DOGE ETF Launch
The launch of the anticipated Rex-Osprey DOGE ETF originally set for September 12 has been postponed for another week. With no official reasons provided, this move raises speculation about the SEC's intentions, which is facing unprecedented delays with over 90 pending crypto ETF applications.
Institutional Investments in Dogecoin
Companies like CleanCore Solutions have already made significant investments in Dogecoin. CleanCore purchased $130 million worth of DOGE, illustrating how the memecoin is gradually transforming into a treasury asset. Meanwhile, Thumzup, associated with the Trump family, announced the installation of 3,500 Dogecoin mining platforms, acknowledging the token's legitimacy in the crypto ecosystem.
Dogecoin continues to solidify its position in the crypto market, demonstrating growing interest from institutional investors while overcoming challenges like ETF launch delays.
