Amid speculation of an exchange-traded fund, Dogecoin transactions have surged by more than 50%.


There has been a dramatic uptick in activity from institutional investors, or "whales," in the meme-inspired cryptocurrency Dogecoin (DOGE).

According to recent statistics, the value of large transactions has almost quadrupled in the last day.

There has been a dramatic spike in the value of these huge transactions over $100,000 during the previous 24 hours, according to statistics from IntoTheBlock. Thanks to this meteoric rise, the whole value shot up from $1.53 billion to almost $3.01 billion.

At the same time, the amount of DOGE that these whales moved increased from 9.74 billion to 17.97 billion, showing that there was a significant surge in investor activity and movement within the Dogecoin ecosystem.

Coinciding with this dramatic increase in whale transactions is the growing amount of chatter within the crypto community about the possibility of a Dogecoin ETF being approved.

The excitement around the prospect of an Ethereum ETF has led some to speculate that DOGE would be the next cryptocurrency to get its own ETF.

In the middle of all the speculation, a prominent crypto enthusiast named Vee posted on X suggesting that Dogecoin would be perfect for an ETF due to its huge acceptance and non-security status.

By cynically pointing out the possible advantages and disadvantages, the post demonstrated the double-edged character of conventional financial institutions' interest in Dogecoin.

A Dogecoin ETF would be "amusing," as Billy Markus, one of the coin's co-creators, put it in a sarcastic remark on the rumor. This attitude is appropriate given DOGE's playful beginnings, but it doesn't diminish the serious investing opportunities presented by current market tendencies.

The 11.2% gain in Dogecoin value over the last week is a reflection of the overall upward trend in the cryptocurrency market. The cryptocurrency has climbed 0.7% in the last day, although just a little, and it is now trading at $0.168.

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