This old dog coin might soon learn a few new tricks.
For most of its time on the market, Dogecoin ( DOGE -7.48% ) has relied on a combination of hype and cultural cachet more than concrete mechanisms to pull in fresh capital. Today, there are three potential catalysts that might shake up that long-running dynamic, perhaps even leaving the coin with a real investment thesis for buying it if everything plays out.
Could these catalysts even send the coin back to the moon ? Let's check out what's coming up and see what the impacts could be.
1. There's a new on-ramp for demand
Exchange-traded funds (ETFs) that hold Dogecoin are in the process of hitting the market. The first U.S. ETF tied to Dogecoin, offered by REX-Osprey, launched on Sept. 18. Others are waiting in the wings