Bitwise’s CEO publicly said $DOGE was “at least historically, a useless token.” And now the company’s DOGE ETF is shutting down before it’s even been around for a year 😅
According to The Block, Bitwise’s spot DOGE ETF (BWOW) will stop trading after October 14, with just about $726,000 in assets under management. The same company’s SOL staking ETF has around $1.3 billion.
There was more to CEO Horsley’s quote: DOGE “represents something,” but ETF buyers don’t want it.
My take: DOGE’s buyers have never been on Wall Street—they’re on exchange apps. The ETF’s closure will have little direct impact on the price. The real question is whether crypto traders themselves are still buying.
Binance 4-hour chart (00:01): moving averages are bearishly aligned, MACD had a bullish crossover 5 candles ago, RSI at 42 📍
If the price gets back above the 0.0903 resistance, this leg down may come to an end;
If it breaks below the previous low of 0.0811, the bearish trend remains in control.
Would you still hold a coin that even the CEO of an ETF issuer calls “useless”?
Sources: The Block, Binance market data
#狗狗币 #ETF $DOGE
#币安广场
⚠️ The above is a summary of information and personal opinion, and does not constitute investment advice. DYOR.
According to The Block, Bitwise’s spot DOGE ETF (BWOW) will stop trading after October 14, with just about $726,000 in assets under management. The same company’s SOL staking ETF has around $1.3 billion.
There was more to CEO Horsley’s quote: DOGE “represents something,” but ETF buyers don’t want it.
My take: DOGE’s buyers have never been on Wall Street—they’re on exchange apps. The ETF’s closure will have little direct impact on the price. The real question is whether crypto traders themselves are still buying.
Binance 4-hour chart (00:01): moving averages are bearishly aligned, MACD had a bullish crossover 5 candles ago, RSI at 42 📍
If the price gets back above the 0.0903 resistance, this leg down may come to an end;
If it breaks below the previous low of 0.0811, the bearish trend remains in control.
Would you still hold a coin that even the CEO of an ETF issuer calls “useless”?
Sources: The Block, Binance market data
#狗狗币 #ETF $DOGE
#币安广场
⚠️ The above is a summary of information and personal opinion, and does not constitute investment advice. DYOR.