Key Takeaways:
Grayscale launched the Dogecoin ETF (GDOG), bringing the first meme coin into a regulated ETF lineup. Institutional interest is growing, with Bitwise and Franklin Templeton preparing their own Dogecoin ETF products. Analysts note that DOGE may become the liquidity anchor for the entire meme coin sector as passive flows enter. Despite the ETF launch, Dogecoin remains nearly 80% below its ATH, and price movement will depend largely on flows and sentiment. Experts warn that if ETF inflows slow, corrections could accelerate.
Dogecoin is no longer just the mascot of crypto culture. With Grayscale’s new GDOG ETF hitting the NYSE, the original meme coin has officially crossed into traditional finance. The move now raises a bigger question: will the market follow?
The Dogecoin ETF is unusual in its category. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) already have ETF products, but this is the first time a meme coin, DOGE, has joined that list.
On Nov. 24, trading began for the Dogecoin ETF from Grayscale under the ticker GDOG on the New York Stock Exchange (NYSE). On the same day, Grayscale also launched its GXRP ETF for XRP.
And Grayscale is not the only issuer lining up to offer institutional access to Dogecoin. Bloomberg analyst Eric Balchunas noted that Grayscale will barely have the market to itself for two days, because Bitwise is expected to join next. Franklin Templeton has also shown interest in launching a similar ETF.
But does this mean large capital is genuinely interested in meme coins? Just look at the meme Grayscale posted to celebrate the launch of the Dogecoin ETF. Major asset managers are posting memes now.
Eneko Knorr, co-founder and CEO of Stabolut, told Cryptonews that while the entire situation looks ironic, it may also change how big money views meme coins:
The irony is surreal. We are talking about an asset created to mock crypto, where a founder famously exited in 2015 for the price of a used car. Yet today, that same ‘joke’ is being groomed for Wall Street portfolios.
‘From Casino Chips to Capital Markets’
According to Knorr, the Dogecoin ETF may help reshape the reputation of the meme coin sector. For most people, this space still looks like scams, casinos, and “minus 99% PNL”. Unfortunately, that perception has some truth behind it. But there are also meme coins with communities, history and identity. DOGE is one of them. Knorr explains:
This filing marks a regime change: if approved, meme coins graduate from casino chips to capital markets. It lowers the barrier for traditional investors who would never touch a private key but are desperate for exposure to the attention economy.
For context, Dogecoin remains the largest meme coin by market capitalization at about $23 billion. It regularly appears in the top 15 cryptocurrencies by market cap, which means it has deep liquidity and a steady flow of capital. Until now, most of that flow likely came from retail rather than institutions.
Cais Manai, Co-Founder and Head of Product at TEN Protocol, told Cryptonews that this ETF could add even more liquidity not only to Dogecoin but to the meme category as a whole:
It brings a regulated access point into a market that was driven almost entirely by retail and sentiment. Once you add passive flows and traditional investors, DOGE becomes the liquidity anchor for the entire meme category.
Can Dogecoin Price Reach $1 After the ETF Launch?
Dogecoin was launched back in 2013, and over the years, it has built one of the strongest communities in crypto. Their long-standing dream has been for $DOGE to reach $1. But realistically, that level may not be achievable at the moment. The meme coin ecosystem has become so diverse that liquidity constantly rotates between tokens.
Meme coins are extremely volatile assets. That volatility is both a strength and a weakness. Dogecoin’s price, however, has been relatively more stable than the rest of the meme coin sector. This may be one reason why large funds decided to include it in an ETF. It is possible that DOGE is becoming something like the Bitcoin of meme coins.
But that stability comes with its own risks. If ETF inflows slow, price reactions could be sharp, Manai warns:
Capital will move in clusters. When DOGE attracts inflows, smaller assets follow. When it cools, the correction spreads faster. The core idea is simple. You take a narrative asset, place it inside a formal structure and the market starts treating it with real weight.
That dynamic is similar to what we see in 2025, where Bitcoin’s price is heavily influenced by institutional flows rather than retail sentiment.
According to CoinPaprika, Dogecoin is still about 80% below its all-time high (ATH). For meme coins, such a drawdown is typical.
For a long time, DOGE barely moved, especially in 2024. It even became a running joke that Dogecoin was turning into a stablecoin. But once it broke out of that range, the price started trending higher. Even when declines happened, they did not break below those levels again.
Source: TradingViewLike the rest of the crypto market, Dogecoin is now in a post–October 10 correction. Yet it is still up 37% over the past 30 days. Whether this stability ahead of the ETF launch was a coincidence or a signal that funds were waiting for the right moment is unclear.
Knorr believes the ETF marks a turning point:
An ETF turns Dogecoin into the ‘Blue Chip’ of the sector — safe and regulated. Profits from a standardized DOGE ETF will likely waterfall into newer, faster assets. We aren’t just watching a rally; we are watching the total financialization of internet culture.
The post Experts: DOGE ETF May ‘Make It a Blue Chip’ and Shift the Price appeared first on Cryptonews.
