Dogecoin ( CRYPTO: DOGE) cheered the launch of a brand-new exchange-traded fund on Wall Street on Thursday that intends to offer leveraged direct exposure to the popular meme coin.
Leveraged ETF For DOGE
Dogecoin’s authorities X deal with responded to the launching of the 21Shares 2x Long Dogecoin ETF on the Nasdaq stock market. An image revealed a signboard showing congratulatory messages from the exchange, with an elegant Shiba Inu canine at the bottom.
” Much congrats,” Dogecoin stated.
The 21Shares 2x Long Dogecoin ETF, running under the ticker TSSD, is created to offer financiers with two times the day-to-day efficiency of Dogecoin, before charges and expenditures.
” The ETF enables financiers to acquire leveraged direct exposure to Dogecoin through a controlled, exchange-traded structure that can be bought straight through their bank or broker,” according to a news release from 21Shares
See Likewise: Dogecoin (DOGE) Cost Forecast 2025, 2026, 2030
Dogecoin financiers were likewise anticipating the launch of Grayscale’s ETF, which is created to track the area rate of the leading memecoin.
DOGE Not Over The ‘Moon’
In spite of the anticipation, DOGE’s rate toppled on Thursday, weighed down by the market’s general gloom.
The Moving Typical Merging Divergence sign, which compares 2 rapid moving averages of a property’s rate, flashed a “Offer” signal for DOGE, according to TradingView.
The Relative Strength Index was approaching the oversold level, showing that there was still time for a possible rebound.
Cost Action: At the time of composing, DOGE was exchanging hands at $0.1469, down 6.72% in the last 24 hr, and over 10% in the recently, information from Benzinga Pro.
Picture Courtesy: alfernec on Shutterstock.com
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