Dogecoin and Shiba Inu ETFs slump amid shift to Bitcoin

Dogecoin‑linked exchange‑traded funds saw a brief surge of $345,130 in net inflows on 21 July, then recorded zero net entries on 22‑24 July, leaving a cumulative net inflow of $12.12 million – the first weekly positive flow since the week ending 18 June. The fund’s price‑linked Dogecoin token slipped 0.17 % to $0.07, hovering near its lowest level since November 2023, while open interest on related derivatives rose to $1.10 billion, reflecting short‑term selling pressure.

Across the broader market, the combined market capitalisation of Dogecoin and Shiba Inu fell to $13.27 billion, representing just 1.02 % of Bitcoin’s roughly $1.3 trillion valuation – a historic low and a sharp drop from the 7 % share seen at the peak of the 2021 meme‑coin frenzy. Bitcoin, by contrast, rose about 10 % over the month. Institutional investors are increasingly allocating capital to regulated Bitcoin ETFs rather than memecoin products, accelerating the decline of dog‑named tokens.

The trend highlights the growing preference for assets perceived as store‑of‑value or with clearer use cases, leaving memecoins with limited institutional support.