Dogecoin Just Suffered An 80% Crash In This Major Metric

Overview

Dogecoin’s entry into the ETF market has not gone as anticipated, with significant declines in inflows shortly after the launch of the GDOG fund. Initially expected to attract institutional interest, the reality has proven to be more challenging, raising concerns about the demand for meme coins in traditional financial settings.

ETF Launch and Initial Performance

The launch of Grayscale Investments’ first spot Dogecoin ETF, known as GDOG, marked a significant milestone for Dogecoin, allowing everyday investors to access the cryptocurrency through traditional brokerage platforms. The product debuted on November 24, 2025, converting Grayscale’s existing DOGE trust into a publicly traded ETF.

However, excitement quickly waned. The ETF experienced a dramatic decline in inflows just 48 hours after its launch. Initial inflows were approximately $1.8 million on the first day, but the following day saw a sharp drop to about $365,420, representing an 80% decrease in early momentum. This brought the cumulative net inflows to approximately $2.16 million, a figure that fell short of expectations for what was anticipated to be a significant catalyst for Dogecoin.

Comparatively, other crypto ETFs had much stronger early performances. For instance, Spot Solana ETFs garnered $117.39 million in inflows within their first two days of trading, while Spot XRP ETFs achieved $243.05 million on their first day alone. In terms of trading volume, the Dogecoin ETF recorded only $1.41 million on its first day, which further dropped by around 78% to $397,620 on the second day.

Implications for Dogecoin and the Meme-Coin Space

The lukewarm reception of the GDOG ETF raises important questions about the viability of meme coins like Dogecoin within traditional financial frameworks. While the ETF listing signifies a notable achievement for a token that started as a joke, the lackluster capital flows suggest limited interest from institutional investors.

Despite these challenges, it is premature to draw definitive conclusions about the long-term significance of Dogecoin ETFs. The market will need time to assess the potential impact of these new offerings. A successful Dogecoin ETF could pave the way for other meme-coin funds, and there are indications that additional asset managers are preparing to launch their own Spot Dogecoin ETFs.

Impact on the Crypto Market

• The significant drop in inflows for the GDOG ETF indicates potential challenges for meme coins in attracting institutional investment.
• The contrasting success of other crypto ETFs highlights the unique market dynamics surrounding Dogecoin.
• The performance of the GDOG ETF may influence future regulatory and investment approaches to meme coins.
• The slow start could deter other asset managers from pursuing similar products in the short term.
• Continued monitoring of Dogecoin ETF performance will be crucial for understanding the evolving landscape of meme coins in traditional finance.

Updated: 11/28/2025, 4:30:49 PM