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Dogecoin (CRYPTO: DOGE) cheered the launch of a new exchange-traded fund on Wall Street on Thursday that aims to provide leveraged exposure to the popular meme coin.
Dogecoin’s official X handle reacted to the debut of the 21Shares 2x Long Dogecoin ETF on the Nasdaq stock exchange. An image showed a billboard displaying congratulatory messages from the exchange, with a stylized Shiba Inu dog at the bottom.
“Much congrats,” Dogecoin said.
The 21Shares 2x Long Dogecoin ETF, operating under the ticker TSSD, is designed to provide investors with twice the daily performance of Dogecoin, before fees and expenses.
“The ETF allows investors to gain leveraged exposure to Dogecoin through a regulated, exchange-traded structure that can be purchased directly through their bank or broker,” according to a press release from 21Shares.
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
Dogecoin investors were also expecting the launch of Grayscale’s ETF, which is designed to track the spot price of the leading memecoin.
Despite the anticipation, DOGE’s price tumbled on Thursday, weighed down by the market’s overall gloom.
The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, flashed a “Sell” signal for DOGE, according to TradingView.
The Relative Strength Index was approaching the oversold level, indicating that there was still time for a possible rebound.
Price Action: At the time of writing, DOGE was exchanging hands at $0.1469, down 6.72% in the last 24 hours, and over 10% in the last week, data from Benzinga Pro.
Photo Courtesy: alfernec on Shutterstock.com
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