Dogecoin Outperforms Bitcoin as ETF Speculation Fuels Optimism

Amid a broad market resurgence, Dogecoin (DOGE) registered significant gains in large transaction volume and daily active addresses, outperforming Bitcoin (BTC) by 41.12% and 34.91% respectively. In contrast, Bitcoin experienced declines in these metrics despite recording daily gains and surging trading volume. The renewed momentum for DOGE was bolstered by the recent annual Doge Day celebration on April 20, which reignited community enthusiasm and shifted focus to the U.S. SEC's ongoing review of DOGE ETF proposals from major asset managers including Bitwise, Grayscale, 21Shares, and Osprey Funds. Investor sentiment is increasingly optimistic that a potential ETF approval, possibly as early as May 18, could lead to a significant price breakout in 2025, especially given the noted increase in whale activity and user engagement. While Bitcoin's robust performance in daily trading continues to hold appeal for retail investors, the observed slowdown in large-scale transactions suggests that institutional activity may be waning, creating a favorable environment for DOGE’s emerging momentum.