Mastiff Make the headlines again. The reason? Securities and Exchange Commission officially has Recognized Graycale’s deposits for a Dogecoin Exchange Traded Fund (ETF) spot, the Grayscale Dogecoin Trust. This marks the start of the dry examination process, which could potentially bring Dogecoin ETF to the scholarships.
For crypto lovers, this is an important step. The largest asset manager of Crypto supporting the most popular the same point in what point Dogecoin has come – a joke to a potential consumer investment vehicle.
“It is remarkable and a lasting testimony to the power of cryptographic communities,” said Noelle AchesonA Crypto analyst and author of the newsletter “Crypto is macro now”.
She noted in her quartz email that Doge’s success is a reminder that public networks belong to the market, which ultimately determines their success, not an individual team or entity.
Wednesday, Dogecoin oscillated at $ 0.25 per room, marking a 2% increase in the last 24 hours.
Created like a joke by Software engineers Billy Markus and Jackson Palmer in 2013, Dogecoin presents the resemblance of the dog Shiba Inu popularized in the Mème Doge. But since then, Dogecoin has turned into one of the most precious cryptocurrencies in the world.
Doge’s success can be widely attributed to GAMESTOP SAGA When a group of small investors, encouraged by the Reddit community “Wallstreetbets” and helped by a Tweet Elon MuskFlow -up (GME) Actions at $ 86.88 in January 2021.
On Reddit, investors later discussed the cryptocurrency equivalent to Gamesop – and the answer was Dogecoin. Just as Gamesop has reached its peak, Dogecoin began to gain ground, culminating in May 2021 at $ 0.74 per room.
After the Gamesop saga, another event sent Dogecoin: Elon Musk tweeted “DOGE” in February 2021. The price of DOGECOIN increased spectacularly, and crypto lovers were suddenly interested in Dogecoin.
Later that year, Musk welcomed the NBC (Cmcsa)) “Saturday Night Live” and called a Dogefather. He continued to promote Dogecoin on various platforms, which led to his inclusion in the first 10 cryptocurrencies by market capitalization.
Musk said once Doge is his favorite cryptocurrency because “he has the best humor and he has dogs”.
In addition, when President Donald Trump was re -elected, he announced that Musk would direct the “Department of Effectiveness of the Government”, or DOGE – effectively a non -governmental group that will consult the expenses. This further solidified Musk’s relationship with Dogecoin.