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Dogecoin’s new ETF lost almost all of its initial momentum in just one session. Day two inflows dropped to $365,420 after day one brought in $1.8 million.
Fresh data by SoSoValue shows what happened: GDOG by Grayscale started strong, then slipped quickly. The second day did not bring a new wave of buyers. It just added a small amount of DOGE, pushing total inflows to a modest $2.16 million. For a launch that was expected to generate new interest, the cooldown came sooner than anticipated.
Trading numbers tell the same story for the meme coin. On Nov. 26, GDOG by Grayscale traded under $400,000 — enough to remain visible but not really substantial enough to generate any interest. Net assets climbed above $3.9 million only because DOGE’s price increased a bit, not because the ETF found proper demand.
Dogecoin price reaction
The spot chart of Dogecoin reacted to this, with DOGE trading around $0.152 after weeks of autumn slump. Recoveries never held, and the ETF debut did not change the direction or create a new wave of interest in the popular meme cryptocurrency.
It seems that the market treated the listing as a one-day headline, not a turning point.
If this pattern holds, GDOGE risks losing attention quickly. While positive inflows are still inflows, the 80% drop shows how fragile the interest is and how quickly it can fade when the underlying asset offers no strong foundation.
For now, the ETF is drifting with the price, and Dogecoin’s price is not providing investors with much.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team