Insights from crypto market experts suggest a potential Dogecoin Exchange-Traded Fund (ETF) launch as meme coins gain momentum in the current market cycle.

Prominent Figures Confirm Arrival of Dogecoin ETF

BitMEX co-founder, Arthur Hayes, and Real Vision CEO, Raoul Pal, recently discussed the likelihood of a Dogecoin ETF in a Coin Bureau podcast on YouTube. Hayes highlighted Dogecoin’s growth potential, citing its position as the oldest meme coin in the crypto realm as a factor that could lead to the ETF’s debut.

Hayes also pointed out Dogecoin’s significant market capitalization of $19.7 billion, making it the largest meme-based cryptocurrency globally, per CoinMarketCap. The coin’s cultural impact and strong community support further solidify its position in the investment sector.

Pal echoed Hayes’ stance, expressing support for a Dogecoin ETF and indicating discussions with Jan van Eck, CEO of VanEck, an investment management firm. Pal emphasized Dogecoin’s consistent outperformance of Bitcoin in bull cycles and his efforts to advocate for a Dogecoin ETF.

Predictions on Meme Coins Driving the Market

As meme coins gain popularity, experts speculate on which coins will dominate. Pal disclosed investments in Dogecoin and being predominantly invested in Solana (SOL). In contrast, Hayes diversified his meme coin portfolio with investments in Bonk (BONK), Dogwifhat (WIF), and Dogecoin, advising a long-term investment strategy for 2024.

Image source: Getty Images, chart source: TradingView