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Dogecoin Latest Updates: DOGE Rises Sharply After Initiative Fails—Is the Market Acting Irrationally?

Dogecoin Latest Updates: DOGE Rises Sharply After Initiative Fails—Is the Market Acting Irrationally?

Bitget-RWA2025/11/24 17:40
By:Bitget-RWA

- ZKP's Initial Coin Auction (ICA) releases 200M tokens daily via ETH/USDC bids, partnering with FC Barcelona to redefine token distribution. - Dogecoin (DOGE) surges 2.6% despite Musk-led DOGE agency's dissolution, with Grayscale ETFs boosting institutional altcoin exposure. - DOGE's price rally defies agency closure, driven by TD Sequential indicator signals and $58M debut for XRP ETF , though long-term impact remains uncertain. - Memecoin Memecore (M) struggles with sideways trading at $2.105, facing be

Zero Knowledge Proof (ZKP), a cryptocurrency project focused on privacy, is attracting attention in 2025 thanks to its groundbreaking auction system, which seeks to transform token allocation. ZKP distributes 200 million tokens each day via a public auction, where token prices fluctuate based on current demand

. This system, called the Initial Coin Auction (ICA), lets users place bids with ETH, , or ZUSD, and enforces a $50,000 daily cap per wallet to promote fairness . ZKP’s collaborations with major names such as FC Barcelona and the Dolphins have further boosted its visibility .

Meanwhile,

(DOGE) has experienced a price jump even after the sudden shutdown of the Department of Government Efficiency (DOGE), the Musk-backed project that once pledged $2 trillion in federal savings. Over the past 24 hours, the coin , surpassing the performance of and . Experts link this uptrend to a "buy signal" from the TD Sequential indicator, . Still, the closure—confirmed by Office of Personnel Management Director Scott Kupor— on DOGE’s future.

The

initiative, which launched in January 2025, encountered both internal and external obstacles, including skepticism about its savings claims and negative public feedback. Elon Musk admitted the agency , blaming bureaucratic hurdles. Despite a high-profile rollout and endorsement from Donald Trump, the agency’s responsibilities were transferred to the Office of Personnel Management, and two former DOGE leaders have .

Dogecoin Latest Updates: DOGE Rises Sharply After Initiative Fails—Is the Market Acting Irrationally? image 0

Memecore (M), another

, has shown less strength, currently trading at $2.105 with mixed market signals. Its price action remains largely sideways, . Traders are watching closely to see if it can break out of the $2.04–$2.31 band.

The DOGE rally also aligns with the debut of Grayscale’s exchange-traded funds (ETFs) for Dogecoin and

, which have started trading on NYSE Arca. These ETFs, which initially charge no management fees, are designed to increase institutional access to altcoins . Although DOGE and XRP have not matched their highs from 2021 and 2023, the ETFs have , with Canary Capital’s XRP ETF pulling in $58 million on its first day.

ZKP’s auction approach is emerging as a transparent alternative to standard token distribution, with on-chain transactions ensuring there are no secret discounts or price manipulation

. As the project nears its official launch, the market remains cautiously optimistic about its ability to reshape token distribution practices.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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