Key Insights:
- Dogecoin ETF inflows dropped from $1.8 million to $365K, showing an 80% decline in one trading session.
- DOGE’s ETF failed to maintain momentum, signaling weak sustained investor interest despite launch-day attention.
- Dogecoin’s price stayed near $0.152 as the ETF failed to generate a new market direction or revive trading volume.
Dogecoin’s newly listed exchange-traded fund witnessed a dramatic decline in investor interest within just 24 hours. After launching with an initial $1.8 million in inflows, the fund saw a sharp drop to $365,420 on its second trading day. This marks an over 80% decline, signaling a swift reduction in market enthusiasm surrounding the DOGE-backed investment product.
According to fresh data from SoSoValue, Grayscale’s Dogecoin ETF (GDOG) gained limited traction following its debut. Total inflows only reached $2.16 million after two sessions. The launch had initially raised expectations of drawing renewed attention to the meme-based digital asset. However, the momentum failed to carry into the second day, leaving a noticeable gap between projected and actual performance.
Trading Activity Reflects Cooling Sentiment
On November 26, GDOG’s trading volume settled below $400,000. While still active, the figure lacked the strength to influence broader market interest. The fund’s net assets rose slightly above $3.9 million, but this was largely driven by minor price appreciation in Dogecoin itself. The inflows, however, did not reflect sustained investor demand for the ETF.
The price of Dogecoin remained flat at around $0.152 after showing mild improvement. The ETF launch did not significantly shift the market direction. Throughout autumn, DOGE has faced multiple failed recoveries, and this latest event did not break that trend. Despite expectations, the listing acted more like a short-term headline than a market catalyst.
Market View on ETF Stability Remains Uncertain
With only moderate interest continuing into day two, concerns emerged over the sustainability of DOGE’s ETF appeal. While any positive inflows are constructive, the rapid decline highlights how easily market attention can shift. The ETF now closely mirrors Dogecoin’s price trends, offering little assurance of consistent backing.
