Memecoins
Crypto Market Experts Say Dogecoin ETF Coming as Meme Coins Gain Ground
Two prominent crypto market experts shed light on the future of coins in this market cycle, predict the potential launch of a Dogecoin Exchange Traded Fund (ETF) Soon.
Crypto Heavyweights Say Dogecoin ETF is Coming
Co-founder of BitMEX, Arthur Hayes and Chief Executive Officer (CEO) and Co-Founder of Real Vision, Raoul Pal appeared in a recent YouTube Podcast on Coin Bureau, sharing information on the potential of a Dogecoin ETF as meme coins continue to gain market traction.
When asked about the meme coins he was monitoring in his portfolio, Hayes claimed that Dogecoin Could Potentially Get an ETF at the end of the cycle. He based his predictions on the dog-themed meme coin’s substantial growth rate over the years, highlighting Dogecoin’s status as the oldest meme coin in the crypto space, giving it an advantage over other meme-based cryptocurrencies.
Additionally, Hayes also noted the considerable importance of Dogecoin market capitalization which amounts to a staggering $19.7 billion. The meme coin currently holds the top position as the world’s largest meme-based cryptocurrency by market capitalization, according to CoinMarketCap.
Additionally, Dogecoin’s cultural impact on the crypto space and the investment industry in general has been profound. The popular coin has also gradually grown its strong community to accommodate millions of supporters and investors.
Echoing Hayes’ sentiments, Pal agreed with the BitMEX co-founder in his prediction of a Dogecoin ETF by the end of the market cycle. He indicated his strong advocacy for a Dogecoin ETF, after discussing the possibilities with Jan van Eck, the CEO of VanEckan investment management company and Spot Bitcoin ETF provider.
When asked if a potential Dogecoin ETF could reverse demand for Spot ETF Ethereum, the CEO of Real Vision praised Dogecoin’s consistent outperformance against Bitcoin during each bull cycle, cementing its status as a major player in the crypto space. He also revealed that he tried to urge VanEck’s CEO to file a Dogecoin ETF, highlighting his active behind-the-scenes efforts to make this happen.
Meme pieces with the strongest narratives of this cycle
As meme coins continue to gain ground In the crypto space, it’s no surprise that many are speculating which coin will be the next big hit. In the interview, Hayes and Pal shared their thoughts on what coins they believe they will have the strongest narratives in the crypto market.
Pal revealed that he had invested in popular cryptocurrencies like Dogecoin, however, he was 90% long. Solana (SOL). On the other hand, Hayes disclosed a more diversified coin portfolio, highlighting investments in top-tier coins like Bonk (BONK), Dog Hat (WIF), and Dogecoin. He revealed his investment strategy for 2024, advising: “Go long, don’t sell, don’t get rattled and don’t use too much leverage.”
Featured image from Getty Images, chart from TradingView