In the latest Dogecoin news, the excitement around DOGE ETFs is reaching a fever pitch. Bitwise Asset Management has made a radical move by invoking and utilizing the section 8(a) of the Securities Act, which has a possibility of making the first-ever DOGE ETF operational by November 26.
Despite growing institutional interest, DOGE’s price dip has led investors to turn to Layer Brett.
Are DOGE ETFs About To Go Live?
The clock is ticking as Bitwise nears the launch of the first U.S. spot DOGE ETF. By invoking Section 8(a) of the Securities Act, Bitwise has fast-tracked the approval process, making the registration effective by November 26, unless the SEC intervenes.
Bloomberg’s senior ETF analyst Eric Balchunas referred to this move as a “watershed moment” for Dogecoin. However, the timing of this announcement comes amidst subdued DOGE prices, showing a disconnect between growing institutional adoption and Dogecoin’s market performance.
Despite the anticipation surrounding the DOGE ETF, Dogecoin’s price has been on a downward trajectory. As of the latest data, DOGE is trading at $0.1640, reflecting a 3.98% dip over the last 24 hours.
Source: Coinmarketcap
The chart shows that there was a steady decrease since the day high of 0.1725 with lower highs observed all day and night – indicating constant selling activity.
The initial sell-off experienced a severe fall of DOGE, which dropped at 0.1725 down to around 0.1600 which determined the direction of the rest of the day.
Price stabilized briefly at the price range of $0.160-0.165, but did not break the resistance level of $0.165-0.167, showing no buying impetus. Local bottom was tested at $0.158-0.159 and there was a buyer defense, but it is yet to be known whether this will be maintained or the price will fall more.
Layer Brett – An Emerging Force in the Meme Coin Market
Although DOGE ETFs are making significant hype, Layer Brett is gaining traction as the next meme coin to use. Having a strong Ethereum Layer 2 base and being a meme token, Layer Brett is providing cheaper, faster, and scalable blockchain solutions.
It has already surpassed more than 4.4 million dollars in its presale, benefiting as an individual business with a special value proposal, and the cost of LBRETT will move up to $0.0061 more than $0.0058.
The genius of Layer Brett is that it combines both the culture of memes and blockchain innovation. It takes advantage of Layer 2 technology to provide quicker transactions, reduce charges, and additionally the capacity to scale to compete with more well-established blockchains.
Community-based governance is also a strong attribute of the project in which the holders of the LBRETT are able to contribute in the future development of the project.
A Token Built for Rewards
Beyond its technological offerings, Layer Brett is also attracting investors with its staking rewards. Investors who purchase LBRETT tokens during the presale can stake them for a massive 587.02% APY. This is a desirable feature for investors looking to maximize their returns in the meme coin market.
By providing a low transaction cost, and speed of transactions, Layer Brett is providing a smooth and efficient experience to its users and also ensures that the users can engage in a decentralized and community-based ecosystem.
Conclusion
With the DOGE ETF countdown closing in, investors are looking towards the next series of meme coin success stories. Layer Brett is rapidly becoming one of the market leaders, and it promises an exclusive combination of meme culture, blockchain utility, and attractive incentives to the first investors.
For More Information
Website: https://layerbrett.com
Telegram: https://t.me/layerbrett
X: (1) Layer Brett (@LayerBrett) / X
Source: https://www.livebitcoinnews.com/dogecoin-news-are-doge-etfs-about-to-go-live-investors-are-flooding-into-layer-brett-in-anticipation/
