DOGE ETF Filings Bolster Market Confidence as SHIB Struggles to Overtake

Back in 2021, Shiba Inu (SHIB) experienced a meteoric rise, surging over 7,000,000% with the promise of becoming the ‘Dogecoin killer’. However, both SHIB and Dogecoin (DOGE) have since fallen over 80% from their all-time highs. While SHIB failed to dethrone DOGE—with its market cap and open interest lagging notably behind—DOGE has received multiple ETF filings from major entities including Bitwise, Grayscale, Osprey Fund, and 21Shares. This development comes at a time when the market is gearing up for what many expect to be another bull run. The Grayscale DOGE ETF decision, anticipated on May 21, is seen as a significant upcoming event that could further enhance DOGE’s institutional appeal. In contrast, SHIB continues to miss out on similar institutional support despite the marketing team’s efforts to underline its widespread availability and ease of trading. The news underscores a widening gap between the two meme coins, with market interest and institutional validation favoring DOGE.