Greyscale Just Launched Dogecoin Trust- Will DOGE Be the Ultimate Altcoin NOW?

DOGE won’t be only meme material anymore! Greyscale recently launched a new Dogecoin trust. It marks DOGE’s entry into a relevant financial arc. Traders and investors will take equal interest in this rising crypto now.  

A Reuters news source confirms that Dogecoin is already the 8th biggest token among altcoins. It’s time to wait and watch whether the USD-pegged crypto market takes a solemn interest after  the much anticipated Dogecoin Trust rolls out!  

High Institutional Interest: The Prime Reason for This Launch?  

The news about a fresh Dogecoin trust broke on Jan 31st morning. Altcoin investors are biting their nails for an expert’s take on this new launch.  

Blacked by Greyscale, we can only hope that DOGE will take this far. Grayscale manages more than 25 crypto investment programs, including the Dogecoin fund now!  

Why Institutional Interest Grew Around Dogecoin? 

Greyscale CEO pointed out primes like DOGE’s accessibility, quick transactions, and affordability when asked why they invested trust in this altcoin. R.S Askary, Grayscale’s R&D head also added-  

“We believe, as a faster, cheaper, and more scalable derivative of bitcoin, dogecoin is helping groups underserved by legacy financial infrastructure.”  

How Can Investors Rope In? 

Isn’t it fascinating that Doge Trust was formed only weeks after Trump named one of his specialized groups- Department of Government Efficiency, a.k.a., D.O.G.E.  

The traders’ community is hopeful that Trump will flare deals to help memecoin ETFs grow, including DOGE. Meanwhile, DOGE’s market cap is already $50 billion. The world’s largest memecoin is on the verge of becoming one of the most relevant investment tools worldwide.  

Once institutional investors place their capital in Dogecoin Trust, retail investors would also slip into their shoes. In the last 12 months, DOGE’s price has soared 3x.  

The bottom line– investing in Dogecoin Trust won’t be in vain.  

The Road Ahead 

The trust is now open for subscriptions. Institutional investors and eligible retail investors can claim now. But critics say that DOGE would have been nowhere, had it not been for TESLA’s support. Fundings from TSLA.O and Elon Musk’s kind words are behind DOGE’s steady popularity.  

Popular X handles like CryptoMindHQ also perceived the launch of Dogecoin Trust as a smart yet risky move. Dealing with memecoins always comes with a percentage of volatility. Down some months, regulatory uncertainties may spur. 

The Current Take: Invest Now. Dogecoin is a crisp and rewarding fund, backed by parliamentary and corporate powerhouses.