Dogecoin News Update: Is Dogecoin Facing Collapse or a New Beginning? ETF Developments and Rising Burn Rate Challenge the Latest Downturn

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Bitget-RWA2025/11/23 22:02

By:Bitget-RWA

- Dogecoin (DOGE) and Shiba Inu (SHIB) fell 9.5% and 10.5% respectively, but Grayscale's upcoming ETF and SHIB's 23,864% burn rate surge signal potential recovery. - 21Shares launched a 2x leveraged DOGE ETF, reflecting growing institutional interest in meme coins, while SHIB's ecosystem gains credibility with Japan's regulatory approval. - Analysts highlight ETF catalysts and cultural momentum for DOGE, but warn of technical risks as prices near $0.15 support levels.

Dogecoin (DOGE) and

Shiba Inu

(SHIB) have both seen notable price drops in recent weeks, with

DOGE

sliding 9.5% to $0.158 and

SHIB

decreasing 10.5% to $0.0587 over the last week

based on market statistics

. Despite these losses, experts and traders are highlighting underlying factors that could drive a rebound. Grayscale is preparing to introduce the first

Dogecoin

ETF as soon as November 24,

after a positive 20-day SEC review period

, while Shiba Inu's burn rate

soared 23,864% within a day

, indicating a rapid reduction in supply. At the same time, 21Shares has launched a new leveraged ETF that aims to double Dogecoin exposure,

showing increased institutional interest in meme tokens

The timeline for the Dogecoin ETF has fueled investor enthusiasm. Bloomberg Senior ETF Analyst Eric Balchunas

observed that regulatory signals are highly supportive of the ETF's approval

, provided an exchange submits the necessary paperwork. This development follows 21Shares' debut of a 2x leveraged DOGE ETF (TXXD) on Nasdaq, which

tracks the token's daily moves

with amplified returns and risks. Michael Friedman, who heads U.S. Capital Markets at 21Shares, [highlighted the product's fit with "the momentum we've seen from the community"], and hinted at possible future offerings for other altcoins.

Shiba Inu's core metrics, however, are mixed. Although its burn rate surge

triggered by a single 14.4 million SHIB transfer

has lowered the circulating supply, the token is still

90% below its all-time high from 2021

. Binance influencer Jack pointed to a "trifecta of bullish signals" such as falling exchange reserves and increased buying during dips

as reported by the market

, but analysts from Motley Fool warn against investing in SHIB without clear, utility-driven growth

according to their analysis

. The recent inclusion of SHIB on Japan's regulatory "Green List"

alongside Bitcoin and Ethereum

has enhanced its reputation, but the token's future prospects

depend on further ecosystem advancements

such as its integration with Bitget Wallet.

Dogecoin News Update: Is Dogecoin Facing Collapse or a New Beginning? ETF Developments and Rising Burn Rate Challenge the Latest Downturn image 0

This week, the U.S. economic calendar features key reports on inflation, jobs, and manufacturing, which could

impact overall risk sentiment

. Unpredictable data could put pressure on crypto assets, especially as the Federal Reserve continues to delay rate cuts

according to market commentary

. X Financial's third-quarter earnings also

point to increasing credit expenses

, highlighting ongoing economic vulnerabilities.

For Dogecoin, the combination of ETF-driven demand and cultural momentum

supported by Bit Origin's $500 million DOGE acquisition strategy

could mark a turning point. Still, technical experts caution that DOGE's drop to $0.15 lacks strong support,

making a quick rebound necessary to prevent deeper declines

. On the other hand, Shiba Inu's Shibarium network is showing early throughput improvements,

with daily transactions climbing from 1,850 to 2,720 in just one day

, but the token's speculative reputation

continues to limit its mainstream appeal

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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