Why Dogecoin Was Dogged by Sell-offs Today
A spot ETF dedicated to the meme coin is liquidating.
Overview
High-profile meme coin Dogecoin (CRYPTO: DOGE) wasn't very high on the investor popularity scale on Thursday. In the hours after 4 p.m. ET, its price was sinking by almost 5%. This was due to global macroeconomic developments and the shutdown of a spot Dogecoin exchange-traded fund (ETF).
Of the two developments, the demise of the ETF was the more direct and likely more impactful. That morning Bitwise Dogecoin ETF's sponsor, Bitwise Investment Advisors, announced that it planned to close and liquidate the ETF.
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Details
Source
Originally published at www.fool.com.
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