Dogecoin Soars Amid Surging Institutional Demand—Despite ETF Setback

Dogecoin rockets upward as Wall Street heavyweights pile in—ETF delays be damned.

The meme-turned-mainstream phenomenon

Institutional players are diving headfirst into DOGE, fueling a price surge that defies regulatory hesitation. Hedge funds, family offices, and even traditional finance giants are allocating portions of their portfolios to the Shiba Inu-inspired asset—betting big on its retail appeal and growing utility.

Delays? Just speed bumps

The SEC's foot-dragging on ETF approvals isn't slowing momentum. If anything, it's adding fuel to the fire—traders love an underdog story, especially when it involves bypassing gatekeepers. Demand's coming from everywhere: OTC desks report record volumes, while derivatives markets flash bullish signals.

Where traditional finance hesitates, crypto innovation charges ahead—proving once again that while suits debate, degens accumulate. Funny how a joke currency now makes bankers nervous, isn't it?

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.

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.

Update Part 3: Another delay. Launching next week. Mid week. Prob Thur. https://t.co/Lzk2pCVo0E

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.