21Shares Promotes Dogecoin Beyond Internet Culture, Highlights Growth and Utility

21Shares asserts that Dogecoin transcends internet culture, supported by a proactive community. The asset manager highlights its significant growth and utility through efficient transaction speeds and low fees. With a steady mining process, Dogecoin maintains its network security while gaining adoption as a payment method through major retailers. Furthermore, 21Shares has launched the first Dogecoin ETP and is pursuing a Dogecoin ETF, providing institutional investors regulated access to this cryptocurrency.

21Shares, a prominent crypto asset manager, advocates that Dogecoin extends beyond mere internet culture, being supported by a dedicated community keen on positive social contributions. The firm highlights Dogecoin’s practical features such as rapid transaction speeds, low fees, and its capacity for microtransactions, enhancing its utility as a digital currency.

Over the last decade, Dogecoin (DOGE) has achieved an impressive 130,000% price increase, corresponding to an annualised growth of 127%. This exceptional performance positions it as the leading asset among the top 25 cryptocurrencies by market capitalisation, emphasising its substantial market influence.

21Shares elaborates on Dogecoin’s technological framework that offers block confirmations approximately every minute, significantly faster than Bitcoin’s processing time. This swift transaction capability, alongside minimal transaction costs, renders Dogecoin ideal for small payments in daily transactions.

Though Dogecoin does not impose a supply cap, its mining process is consistent, producing 10,000 DOGE every minute, resulting in an annual total of around 5.25 billion tokens. This steady issuance rate has naturally curbed inflation, while ensuring network security and reliable rewards for miners.

The asset manager also points out that Dogecoin is gaining traction as a payment option, with prestigious entities like Tesla, AMC Theatres, and Newegg accepting DOGE. Its low transaction fees and rapid processing have established it as a viable solution for everyday payments, aided by crypto payment platforms like BitPay, which enable global merchant acceptance.

Recently, Dogecoin drew attention when The Open House Group, a significant real estate entity listed on the Tokyo Stock Exchange, included it in their payment systems. Moreover, 21Shares has taken significant steps toward institutional exposure of Dogecoin by launching the first Dogecoin ETP in collaboration with the House of Doge, providing regulated access for institutional investors.

Additionally, 21Shares recently submitted an S-1 registration to the SEC for a Dogecoin ETF, joining competitors like Bitwise and Grayscale in seeking to offer institutional investors an entry point into Dogecoin investments.

Disclaimer: This content is for informational purposes only and should not be regarded as financial advice. The author’s views may represent personal opinions and do not necessarily reflect those of The Crypto Basic. Readers should conduct comprehensive research prior to making any investment decisions. The Crypto Basic assumes no responsibility for financial losses.