Two prominent crypto market experts have shed light on the future of coins memes in this market cycle, predicting the possible launch of a Dogecoin Exchange Traded Fund (ETF) soon.
Crypto Heavyweights Claim Dogecoin ETF Is Coming
Co-founder of BitMEX, Arturo Hayes and Chief Executive Officer (CEO) and Co-Founder of Real Vision, Raul Pal have appeared in a recent YouTube podcast at Coin Bureau, sharing insights into the potential of a Dogecoin ETF as meme coins continue to gain traction in the market.
When asked what meme coins he was keeping an eye on in his wallet, Hayes stated that Dogecoin Could Potentially Get an ETF at the end of the cycle. He based his predictions on the substantial growth rate of the doggie-themed meme coin over the years, highlighting Dogecoin's status as the oldest meme coin in the crypto space, giving it an edge over other meme-based cryptocurrencies.
Furthermore, Hayes also highlighted the substantial market capitalization which has amounted to a staggering $19.7 billion. The meme coin currently occupies the first position as The world's largest meme-based cryptocurrency. by market capitalization, according to CoinMarketCap.
Furthermore, Dogecoin's cultural impact on the crypto space and the investment sector in general has been profound. The popular meme coin has also steadily cultivated its strong community to host millions of followers and investors.
Echoing Hayes' sentiments, Pal agreed with the BitMEX co-founder in his prediction of a Dogecoin ETF by the end of the market cycle. He indicated his strong advocacy for a Dogecoin ETF, having discussed the possibilities with Jan van Eck, the VanEck CEOan investment management company and Bitcoin ETF spot provider.
When asked if a possible Dogecoin ETF could change demand for Ethereum Spot ETF, the CEO of Real Vision praised Dogecoin's consistent outperformance of Bitcoin in every bull cycle, cementing its status as a major player in the crypto space. He also revealed that he has attempted to urge VanEck's CEO to introduce a Dogecoin ETF, emphasizing his active efforts behind the scenes to make this happen.
Meme coins with the strongest narratives of this cycle
As Meme coins continue to gain ground. In the crypto space, it is no surprise that many are speculating which coin will be the next big thing. In the interview, Hayes and Pal shared ideas about what coins memes They believe it will have the strongest narratives in the cryptocurrency market.
Pal revealed that he has made investments in popular cryptocurrencies such as Dogecoin, however, he remained 90% long. Solana (SUN). On the other hand, Hayes revealed a more diversified meme coin portfolio, highlighting investments in prominent meme coins such as Bonk (BONK), Dog hat (WIF)and Dogecoin. He revealed his investment strategy for 2024 and advised: โGo long, don't sell, don't get shaken and don't use too much leverage.โ
Featured image from Getty Images, chart from TradingView
