Altcoin
Grayscale Launches Dogecoin Trust, DOGE ETF Next?
Asset manager Grayscale has announced the launch of its Dogecoin Trust, a fund that will provide institutional investors with exposure to the foremost meme coin DOGE. This move has also raised the possibility of the asset manager filing for a DOGE ETF at some point.
Grayscale Launches Dogecoin Trust
In a press release, Grayscale announced the creation and launch of its Grayscale Dogecoin Trust. The asset manager stated that this fund will offer investors the opportunity to gain exposure to DOGE, the native coin of the Dogecoin network.
The firm further remarked that it believes the top meme coin has transitioned from a meme coin of a Shiba Inu to a tool for “global financial inclusion, grassroots activism, and a viable means of payment.” The asset manager added that due to its widespread accessibility, affordability, and rapid transaction speeds, DOGE has gained significant adoption worldwide.
Grayscale mentioned that the Trust is now open for daily subscription by eligible individual and institutional accredited investors. The firm noted that the fund functions like its other single-asset investment trusts and is solely invested in DOGE, the native coin of the Dogecoin network.
Meanwhile, this launch comes just a day after the asset manager filed for a Spot XRP ETF with the New York Stock Exchange (NYSE). The firm plans to convert its XRP Trust to an ETF, which will list and trade on the NYSE.
A Spot ETF Next?
Grayscale’s launch of the Dogecoin Trust has raised the possibility of the asset manager filing for a Spot DOGE ETF at some point. In an X post, Nate Geraci, the President of the ETF Store, also predicted that the firm would file for this DOGE ETF.
He asserted that the “obvious plan” here is to ultimately convert the Trust to an ETF. He added that the launch of the Trust allows the asset manager to test out demand and get a head start on accumulating assets.
Bloomberg analyst Eric Balchunas also agreed with Geraci, stating that the move is an attempt for the asset manager to “cut line,” in terms of trying to get an approval from the SEC for a DOGE ETF.
It is worth mentioning that Grayscale has taken this approach with all the Spot crypto ETFs it currently offers and prospective ones. The asset manager simply convert its Bitcoin and Ethereum Trust to spot ETFs. Meanwhile, the firm is currently looking to convert its XRP, Solana, and Litecoin Trusts to spot ETFs.
In the meantime, REX Shares and Bitwise remain the only asset managers to have filed to offer a Dogecoin ETF with the US SEC. REX Shares submitted its application last week while Bitwise just filed its S-1 for this fund three days ago.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Tokyo-based cryptocurrency project JasmyCoin (JASMY) price surged by over 20% on Friday, gaining significant traction among crypto market participants. Notably, the coin has rallied intraday against the backdrop of strong technical indicators, defying the current broader crypto market’s volatile trend. Simultaneously, market participants anticipate whether the coin could sustain a price rally ahead, primarily in the wake of macroeconomic events impacting broader market sentiments.
Here’s Why JasmyCoin’s Price Is Pumping Today
Notably, JasmyCoin’s price appears to be pumping primarily due to strong market technicals, defying broader trends. According to market enthusiast Paul Webborn on X, the token further reflects a highly bullish outlook, with its current surge in line with the Elliott Wave theory.
For context, the Elliott Wave theory is a technical analysis that suggests prices move in repetitive patterns called waves. These waves are categorized as ‘primary, intermediate, and minor.’
As per the market enthusiast, the token has completed primary waves 1 to 4, leaving room for gains as the final impulse wave (5) progresses. The next resistance level lies at $0.082, whilst $0.32 remains the final target, per the market analyst. Overall, this bullish projection and market breakdown have echoed noteworthy optimism surrounding JasmyCoin’s price action ahead.
Derivatives Market Signals Rising Market Interest
Further, the derivatives data for the asset underscored heightened market interest in the asset as it showcases the potential for further gains. According to the latest Coinglass data, JASMY futures OI shot up by 44%, reaching $63.10 million today.
Further, the derivatives volume witnessed a staggering 648% increase to $562.54 million. As a response, JasmyCoin’s price surged remarkably amid burgeoning market interest and further money inflow to its ecosystem.
Coin’s Price Shoots 23%
As of press time, JASMY token’s price witnessed a 23% surge in value and is currently sitting at $0.03253. The coin’s intraday bottom and peak remain at $0.0261 and $0.03392, respectively. Further, intraday trading volume for the asset rose by 443% to $553.15 million, underscoring optimism among traders amid the recent pump,
It’s also worth mentioning that the coin defies the current crypto market trend ahead of the U.S. PCE inflation data release. Bitcoin & altcoins witness a turbulent action after unchanged interest rates this FOMC whilst the PCE data looms. Despite these macroeconomic events bringing investor uncertainty around risk assets, JASMY continues to pump.
Meanwhile, market analyst ‘CryptoELITES has further posted on X, portraying a bullish outlook for the coin. “Jasmy is heading to $0.31 very soon,” the analyst added, sparking optimism over the future price action for the token.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
MuskIt coin has skyrocketed over 200% in the past 24 hours since the news about Errol Musk raising funds resurfaced. Meanwhile, it is speculated that it would take Elon Musk’s endorsement to truly cause a spike in the the meme coin’s value and market cap. It remains to be seen what happens to the meme coin segment with the recent development in MUSKIT’s token value.
MuskIt Coin Skyrockets
The value of MuskIt coin has skyrocketed by 262.73% in the last 24 hours, and the meme coin is exchanging hands at $0.03916. Recent data further shows that there is a spike of 7723.53% in 24-hour trading volume. However, the token is still down from a high value of 0.2241 which it achieved earlier today.
The surge in the value of MuskIt is briefly credited to Errol Musk, Elon Musk’s father. According to a Fortune report, Errol is hoping to raise around $200 million by capitalizing on the meme coin which shares his family name. It has been reported that the funds will be utilized to support the Musk Institute which is a for-profit think tank.
Interestingly, the MuskIt coin was originally launched on December 12, 2024, but the meme coin failed to gain sufficient momentum. It has now made a comeback and is seeking a potential endorsement from Elon Musk to mark higher upticks.
Will Elon Musk Endorse MuskIt Coin?
MuskIt coin shares its name with the Musk family and Errol Musk is looking to capitalize on it. What is missing from the list is an endorsement from Tesla CEO Elon Musk who is often seen supporting Dogecoin. Elon Musk has not come out in support of MuskIt but the community is speculating that he would soon join the meme coin’s hype.
It was earlier speculated that a Dogecoin price rise would take the value to around $0.6 after Elon revealed DOGE target. This essentially refers to the cuts that the DOGE department would undertake on the US Federal spending. Elon Musk does hold a significant influence but there is little to confirm his potential association with MuskIt coin in the future.
Meme Coins Sector In Focus
Meme coins have been gaining traction since the launch of TRUMP and MELANIA meme coins on Solana. MuskIt had added more interest around the meme coin segment. TRUMP meme coin is one of the three meme coins with over 300% gain in January. It is being traded at $26.42. Other meme coins on the list are MTAUR and XCN. MELANIA meme coin is down but has been able to leave a significant impact on meme coin enthusiasts.
MuskIt is speculated to follow the same path if Errol Musk continues to pursue his interest in backing it. For now, Errol Musk has said that he hoping this does not turn out to be a pump-and-dump scheme.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Tether, the company behind the $USDT stablecoin, announced plans to launch $USDT on Bitcoin’s base layer and the Lightning Network.
That’s big, big news – $USDT carries a $140B market cap in the stablecoin sector, which itself accounts for some $224B of the $3.7T total crypto market cap.
Now, Tether wants to combine $USDT with Bitcoin, the biggest name in crypto, to provide faster and more reliable solutions for remittances, payments, and other financial applications.
By leveraging Bitcoin’s base layer and the Lightning Network, Tether aims to improve transaction efficiency involving $USDT. $USDT is already integrated with a number of other important chains – including Ethereum, Tron, Solana, and Binance Smart Chain – but adding Bitcoin via the Lightning Network would be huge, with far-reaching implications.
As Bitcoin looks set to expand with $USDT, hype for the next 100x meme coins grows. Here’s our list of ones you need to keep your eyes on.
1. Solaxy ($SOLX) – Brilliant Solana Layer-2 Upgrade with 240% Staking
Solaxy rides a pure meme coin wave – but there’s real utility here, also. Solaxy aims to combine Solana’s speed with Ethereum’s reliability for a multi-chain solution and Solana upgrade.
And memes, of course. The $SOLX token is a meme coin with added utility, including 240% staking for users who purchase and stake $SOLX during the presale period. Staking rewards will be disbursed over the course of three years after the presale ends.
The tokenomics of the project reserve significant numbers of tokens for protocol development (30%) and rewards for early adopters (25%).
With over $16.6M raised in the presale, there’s a genuine opportunity for early supporters to see major returns on their investment. Solana climbed 136% in 2024; can $SOLX do 100x?
To learn more, or if you’d like to buy some Solaxy, check out the $SOLX presale page.
2. MIND of Pepe ($MIND) – Crypto’s Green Frog Gains AI Superpowers
MIND of Pepe combines AI with Pepe to give you an all-knowing green frog.
The $MIND token is currently in presale, but the techmap outlines plans for an AI agent launch on X, AI-powered market analysis and insights, and exclusive alpha for token holders.
Eventually, the MIND of Pepe will understand the crypto market enough to market and deploy its own tokens.
That’s a lot of power invested in Pepe, but his $MIND is big enough to handle it. And a fully autonomous AI with the power to dominate the meme coin market could make big gains for early investors.
$MIND token holders can stake their tokens at a current rate of 488%, another incentive to join one of the best crypto presales early. Tokens are currently worth $0.0032273 in the ongoing presale, which has raised $4.5M so far.
Learn more about $MIND on its presale page.
3. Catslap ($SLAP) – Slap-to-Earn in Token Airdrop
Everyone loves a good airdrop, and everyone loves cats. Catslap adds a simple game to the mix – Slap-to-Earn. Connect your wallet (Best Wallet integrates smoothly) and start slapping. At the end of the game’s season, accumulated $SLAP tokens are distributed in a Slapdrop (airdrop).
The Catslap project regularly burns $SLAP tokens to keep deflationary pressure on the token’s price, an important feature for anyone wanting to make a long-term crypto play. $SLAP currently trades on a number of DEXs, and investors can purchase tokens there, on the presale website, or earn them by slapping.
Catslap combines memes and cats, the original source of all memes, for a fun project with a strong and growing community. Can the project expand from here? Never count a cat out.
4. Fartcoin ($FARTCOIN) – Terrible Name, Fantastic Meme
Despite a name only a degen could love, $FARTCOIN is up 14% for the month. That’s great – but on the year, Fartcoin is up 1,700%. That’s incredible and shows just how fast the best new meme coins can grow when conditions are right.
Fartcoin provides no real utility; it’s a meme coin, pure and simple. Despite that limitation, Fartcoin was one of the biggest winners of 2024, setting an example for other new meme coins to follow.
Could it go on another run? Don’t count it out.
5. SPX6900 – Pure Meme Coin Madness with Incredible Growth
One of the few tokens to improve on Fartcoin’s performance, SPX6900 – a meme coin spin on the S&P500 – is up a whopping 74,751% in a year.
That’s mind-blowingly impressive, the kind of big gains most meme coins dream of.
And yet, there’s always room for further growth.
SPX6900 sports a $1B+ market cap and ranks in the top 100 cryptos, demonstrating how fast – and how far – meme coins can go.
Bitcoin Gets Bigger, Tether Expands – Meme Coins Set To Explode in 2025
The biggest crypto of them all looks set to benefit from $USDT’s integration, and that bodes well for both projects.
Do your own research before investing in any of the above tokens; this is not financial advice. But with two giants of crypto coming together, meme coins stand to benefit. Will one of these projects go another 100x?
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