Dogecoin Shakes Off its Joke Status, Now a Serious Asset for Wall Street
Dogecoin (DOGE), once dismissed as a joke in the crypto world, is now receiving serious institutional interest. Firms like Grayscale, Goldman Sachs, and Webull have mentioned DOGE in recent SEC filings, marking a significant shift from its previous reputation. According to Alphractal data, Dogecoin has hit an all-time high in mentions, even surpassing some established altcoins. This surge in institutional attention indicates a growing recognition of Dogecoin as a legitimate digital asset, rather than just a meme.
Memecoins Make Significant Gains Amid Bitcoin Slowdown
As Bitcoin loses momentum, memecoins have experienced a remarkable resurgence. Over the past week, the top eight memecoins have posted significant gains. Dogecoin saw a 7.21% weekly increase, maintaining its dominant position with $1.1 billion in weekly trading volume. Shiba Inu (SHIB) slightly outperformed Dogecoin with a 9.48% gain. Pepe (PEPE), a smaller-cap token, led the pack with a 24.04% increase, indicating renewed interest from traders.
Other notable memecoins such as Pudgy Penguins (PENGU) and Bonk (BONK) also saw solid gains. The WIF token stood out with a $500 million market cap and nearly $214 million in volume, highlighting its growing importance within the memecoin ecosystem.
Market Outlook and Regulatory Shifts
With increasing institutional investment and growing retail enthusiasm, the emergence of memecoin-themed ETFs seems likely. The SEC recently categorized memecoins as digital collectibles, which eased regulatory concerns. However, scrutiny over influencer promotions and liquidity manipulation remains. The next few months will reveal whether memecoins can solidify their place as both culturally popular and financially credible assets.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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