Dogecoin's price has significantly increased despite the delay in its ETF launch. Institutional investor interest and large purchases are driving demand for the cryptocurrency.
Sharp Price Increase of Dogecoin
This week, Dogecoin's price rose over 20%, reaching $0.26, despite the delay of the US DOGE ETF launch. The ETF, issued by Rex-Osprey, is expected to launch mid-next week, but no reasons for the delay have been disclosed.
Institutional Interest and CleanCore Solutions' Impact
The increase in the price of Dogecoin highlights strong institutional interest. A notable impulse came from CleanCore Solutions, which acquired 500 million DOGE, boosting buying pressure and generating a positive market tone.
Regulatory Uncertainty and Its Consequences
The delay of the ETF launch is linked to the regulatory review stance, affecting over 90 pending cryptocurrency ETF applications. This creates market uncertainty, but institutional investments continue to flow. The cautious regulatory approach also impacts other cryptocurrency assets, though no significant price moves have been observed for major cryptocurrencies like BTC, ETH, and XRP.
The rise in Dogecoin price amidst the ETF launch delay demonstrates confidence among institutional investors. The anticipated approval of the DOGE ETF could significantly alter cryptocurrency market dynamics, despite the current regulatory hurdles.
