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The 2025 Dogecoin Mystery: Can Musk Still 'Nurture' It?
Dogecoin is the first cryptocurrency mined using the POW (Proof of Work) mechanism. In 2024, due to the Trump and Musk effect, its price skyrocketed, but with the cooling of the crypto market, it plummeted by nearly 60%. Initially driven by the community on Reddit, it became a tool for online tipping, and Musk's repeated support has made him the 'big brother' of Dogecoin.
As we enter 2025, can Musk still drive the development of Dogecoin? What direction will Dogecoin take? This year, Grayscale launched a Dogecoin trust fund, a key step for Dogecoin towards institutional investment. The Dogecoin Foundation is also actively seeking sponsorship to prepare funds for the widespread application of Dogecoin.
Bloomberg analysts predict the likelihood of Dogecoin ETFs being approved, believing that as the largest meme coin, Dogecoin has a higher chance of approval. The applications submitted by Grayscale and Bitwise have received preliminary recognition from the SEC. Now, Dogecoin is eagerly awaiting the swift approval of ETFs; once realized, its status as a legitimate payment method will significantly improve. With Trump's crypto policies gradually being implemented and Musk's D.O.G.E department making strides, if these positive factors come to fruition, Dogecoin is expected to transform from a meme coin to a payment-oriented cryptocurrency.
Dogecoin is the first cryptocurrency mined using the POW (Proof of Work) mechanism. In 2024, due to the Trump and Musk effect, its price skyrocketed, but with the cooling of the crypto market, it plummeted by nearly 60%. Initially driven by the community on Reddit, it became a tool for online tipping, and Musk's repeated support has made him the 'big brother' of Dogecoin.
As we enter 2025, can Musk still drive the development of Dogecoin? What direction will Dogecoin take? This year, Grayscale launched a Dogecoin trust fund, a key step for Dogecoin towards institutional investment. The Dogecoin Foundation is also actively seeking sponsorship to prepare funds for the widespread application of Dogecoin.
Bloomberg analysts predict the likelihood of Dogecoin ETFs being approved, believing that as the largest meme coin, Dogecoin has a higher chance of approval. The applications submitted by Grayscale and Bitwise have received preliminary recognition from the SEC. Now, Dogecoin is eagerly awaiting the swift approval of ETFs; once realized, its status as a legitimate payment method will significantly improve. With Trump's crypto policies gradually being implemented and Musk's D.O.G.E department making strides, if these positive factors come to fruition, Dogecoin is expected to transform from a meme coin to a payment-oriented cryptocurrency.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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