Dogecoin Is a Movement, Not a Meme, Says 21Shares

Dogecoin has surged 130,000% over the decade, with an annualized return of 127%.
Wallet addresses rose from 44 million to 84 million in four years, showing massive adoption.
21Shares calls Dogecoin a movement, positioning it as a serious financial asset now.

Dogecoin, once launched as an internet parody, is now being positioned as a financial asset by 21Shares, a prominent global asset manager. The Switzerland-based firm recently emphasized that Dogecoin is no longer just a meme, stating, Dogecoin isnt just a memeits a movement.

In a post published Thursday, 21Shares drew attention to DOGEs remarkable rise and mainstream acceptance. According to the firm, the token has evolved far beyond its humorous beginnings to become a significant player within the cryptocurrency sector. The company highlighted DOGEs long-term performance as further evidence of its transition to financial relevance.

Over the past decade, DOGE has appreciated by an astonishing 130,000%. This equates to an annualized return of 127%, making it the highest-performing digital asset among the top 25 cryptocurrencies by market capitalization. 21Shares also reports that DOGE wallet addresses have grown from 44 million to 84 million in four years, indicating increased retail and institutional interest.

Source: 21Shares

21Shares Moves Toward Dogecoin ETF

In addition to publicly backing Dogecoins growth, 21Shares filed a Form S-1 with the U.S. Securities and Exchange Commission on Wednesday for its proposed 21Shares Dogecoin ETF. This proposed exchange-traded fund would offer investors direct exposure to DOGE through traditional investment channels.

Source: James Seyffart

Despite regulatory hurdles, industry analysts are optimistic. Bloombergs James Seyffart and Eric Balchunas estimate a 75% probability that the Spot DOGE ETF will be approved within the year. On Polymarket, a crypto prediction platform, the odds stand at 64%. Both forecasts suggest momentum is building in its favor.

Seyffart characterized the current wave of ETF proposals as a spaghetti cannon approach, referring to the strategy of filing multiple products in hopes that some will be accepted under new SEC leadership.

Bridging Dogecoin to Traditional Finance

To back its ETF ambitions and help drive wider adoption, 21Shares has teamed up with the House of Doge the official corporate arm of the Dogecoin Foundation. The collaboration aims to bridge DOGE with traditional financial systems, further enhancing its accessibility.

In addition, 21Shares introduced the first exchange-traded product backed 1:1 by physically held DOGE and supported by the Dogecoin Foundation. The product carries a 0.25% management fee and is intended to offer secure, regulated exposure to the asset without requiring direct crypto handling by investors.

The developments presented by 21Shares suggest a clear shift in DOGEs role within the broader financial landscape. From its origin as a digital joke to becoming the foundation of a proposed SEC-regulated ETF, DOGEs journey is gaining attention not just from enthusiasts but from financial institutions.

Text source: TronWeekly

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