Dogecoin (CRYPTO: DOGE) on Thursday cheered the launch of a new exchange-traded fund on Wall Street that aims to provide leveraged exposure to the popular meme coin.
Leveraged ETF for DOGE
Dogecoin’s official X handle responded to the debut of the 21Shares 2x Long Dogecoin ETF on the Nasdaq stock exchange. One image showed a billboard congratulating the exchange, with a stylized Shiba Inu dog at the bottom.
“Many congratulations,” said Dogecoin.
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 also expected the launch of Grayscale ETF, which is designed to track the spot price of the leading memecoin.
DOGE not about the ‘moon’
Despite expectations, DOGE’s price plummeted on Thursday, pressured by the overall market gloom.
The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, gave a ‘sell’ signal for DOGE, according to to TradingView.
The Relative Strength Index was approaching oversold levels, indicating there was still time for a possible recovery.
Price promotion: At the time of writing, DOGE was exchanging hands at $0.1469, down 6.72% in the past 24 hours and over 10% in the past week. data from Benzinga Pro.
Photo courtesy: alfernec at Shutterstock.com
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