With D.O.G.E Calling It Quits, DOGE Surges Past Blue‑Chip Rivals

DOGE Surges Past Blue Chips Amid ETF Buzz and Government Initiative Shutter

DOGE, the memecoin, outperformed both the CoinDesk 20 Index and the CoinDesk Memecoin Index on Monday after the White House announced the dissolution of Elon Musk’s government efficiency initiative.

CoinDesk data showed DOGE trading around $0.145, gaining over 3% for the day—well above the 0.6% rise in the CoinDesk 20 (CD20) and Memecoin Index.

The rally is being fueled by newly approved DOGE-focused spot ETFs. Grayscale’s GDOG is set to start trading, while Bitwise’s DOGE product could launch under the 20-day 8(a) window. Even so, whale selling and weak technical indicators leave short-term price action fragile.

Meanwhile, BTC and ETH remain down roughly 9% and 10% for the week, with most large-cap tokens underperforming.

DOGE’s gains are partly ETF-driven but also follow its typical headline effect, often tied to Elon Musk mentions. The White House confirmed that the Department of Government Efficiency will close eight months early, with functions transferred to traditional agencies following Musk’s split from former President Trump.

Interestingly, cat-themed memecoins led gains this week, growing 4.2% in market cap, slightly ahead of dog-themed tokens at 4%, according to CoinGecko.