Recently, on a YouTube program, BitMEX founder Arthur Hayes and Real Vision CEO Raoul Pal discussed and predicted that a spot ETF for Doge Coin could launch before the end of the current market cycle, becoming the third cryptocurrency in the world to launch an ETF after Bitcoin and Ether.
As soon as the news broke, it drew a variety of opinions. First of all, Doge Coin supporters are of course very excited, Doge Coin’s strong social attributes make it once born, by the world’s vast number of enthusiasts, it is not too much to say that it is the cryptocurrency with the largest number of fans, after all, it is a combination of huge fame and low coin price, even a convenience store part-time employees can easily have thousands of Doge Coin. It’s a much more visually rewarding experience than spending the same amount of money on extremely broken bitcoins. There are also many ways to get Doge Coin without spending any money, such as doing tasks on the internet to get bounties in the form of Doge Coins, and these colorful ways of distributing Doge Coin have allowed Doge Coin to gain what is probably the largest cryptocurrency fanbase in the world. The ultra-high value consensus has also allowed Doge Coin to reach a market capitalization of around $90 billion at one point. This market capitalization exceeds that of mega-corporations like General Motors, Dell Technologies, and Activision Blizzard, which is a remarkable achievement.
But another voice doesn’t think a Doge Coin ETF is coming. There are some people in the cryptocurrency field who have never approve Doge Coin, and that includes the 2 founders of Doge Coin. They initially developed Doge Coin with a joking mindset in an attempt to mock the speculators who speculated in cryptocurrencies in the first place, so they took Bitcoin’s code and modified it, naming it Doge Coin, and making it available in unlimited quantities. Now Doge Coin is popular all over the world, the price of the coin has risen continuously, which the 2 founders never expected, they even suspect that Elon Musk so advocate Doge Coin may be because Musk himself wants to push the Doge Coin to the altar, to experience the feeling of a God. In short, those who don’t approve of Doge Coin believe that this kind of unlimited issuance of currency does not have the attributes of money, even if the market capitalization is as high as 90 billion dollars, it is just a short-lived wave that will eventually pass.
Putting aside these subjective views, let’s look at the objective facts. Currently, Doge Coin’s price is around 0.125 cents (June data), and even though it’s not comparable to the peak of the coin price, it’s still one of the most lucrative coins for miners. In 2024, the profitability performance of the various cryptocurrencies under the POW mechanism has fluctuated due to the halving of Bitcoin, but Doge Coin is bound to be in the top three of the most profitable coins that can be mined using ASIC miners. Looking back at the past few years of the bull market and bear market, the Doge Coin has shown amazing toughness, although its price will rise and fall with the waves, but every time the bull market, the Doge Coin price rose like a rocket, a few rounds of the bear market, the Doge Coin’s price showed a tenacious side, and will not be like other coins that are shattered, which has given great confidence to the holders of the Doge Coin, but also to the vast number of miners to bring the wealth of real income, and even changed the personal fate of many Doge Coin miners.
As for whether a Doge Coin ETF will be launched, BITMARS believes it is not impossible. After all, even old money like Trump and Warren Buffett, who have publicly expressed their abhorrence of cryptocurrencies, are now quietly holding cryptocurrencies, so what’s impossible?
If you also in favor of Doge Coin, feel free to ask us about the various models of Doge Coin ASICs, ANTMINER L9 /L7 , ELPHAPEX DG series , GOLDSHELL MINI DOGE series are all available for sale/pre-sale.
Finally, BITMARS would like to remind everyone that all investments carry risks, so decisions should be made cautiously.
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