DOGE drops 6.5% amid ETF developments and Treasury actions

As of November 13, 2025,

experienced a 5.24% decline over the past 24 hours, bringing its price to $0.16301. Over the last week, DOGE fell by 8.4%, dropped 13.51% in the past month, and is down 48.97% compared to a year ago.

Grayscale’s Actions Move DOGE Closer to U.S. Market Access

Grayscale has registered its

(DOGE) exchange-traded fund with the DTCC (Depository Trust & Clearing Corporation). This registration is a significant milestone toward making the DOGE ETF available for trading in the United States. The DTCC is responsible for clearing and settling most U.S. securities transactions, and the ETF’s listing signals that preparations for a launch are underway.

Market analysts liken this development to the steps taken before the approval of

spot ETFs at the start of 2024. Those ETFs played a key role in attracting substantial investments and bolstering the stability of the cryptocurrency sector. Experts anticipate that DOGE and could follow a similar trajectory, making it easier for mainstream investors to gain exposure through traditional brokerage platforms rather than crypto exchanges.

Grayscale Broadens Its ETF Portfolio

Grayscale, a leading digital asset management firm, has expanded its ETF offerings to include DOGE and XRP. The company, which already manages funds for Bitcoin and

, is signaling its commitment to diversification and attracting conventional investors. Both DOGE and XRP boast large market caps and active communities. XRP is recognized for its use in cross-border payments, while DOGE’s popularity is fueled by internet culture and social media engagement.

Listing DOGE and XRP ETFs in the DTCC registry marks a step forward in legitimizing cryptocurrencies. This move reflects a growing trend of both institutional and retail investors seeking regulated, familiar ways to invest in digital assets. Should the SEC approve these ETFs, they could draw significant new investment into the market and further connect crypto with mainstream finance.

CleanCore’s DOGE Treasury Approach

CleanCore Solutions disclosed that as of September 30, 2025, it held more than 703.6 million DOGE, valued at $163.85 million. The company is working to accumulate up to 5% of DOGE’s circulating supply and aims to boost the coin’s practical use in payments and remittances. CleanCore also secured $175 million in private funding to support its DOGE treasury plan and has brought in new leadership to guide its digital asset strategy.

This approach highlights the rising interest among corporations in crypto assets and the potential for institutional players to impact price trends. However, CleanCore’s first-quarter 2026 report showed a net loss of $13.4 million, partly due to one-off costs tied to its treasury strategy. Despite this setback, the company remains focused on increasing its DOGE reserves in a measured way.

Backtesting the Hypothesis

Recent regulatory advancements for DOGE and other altcoins have attracted attention in event-driven market research. An analysis of 150 news events related to "ETF regulatory progress" from 2022 to 2025 identified notable trends in DOGE’s price behavior. The study examined 30-day periods following each event, using daily closing prices as a reference.

Findings indicate that in the first 10 days after such news, DOGE typically sees a modest positive excess return of about 2.2%, though this is not statistically significant. Between days 11 and 20, this momentum fades, and by day 18, returns turn negative. In the 22–30 day window, excess returns range from -2.3% to -7.5%, a result that is statistically significant at the 5% level. This pattern suggests DOGE tends to underperform its baseline by the third week after these events.

In practice, short-term traders may benefit from a slight increase in the first 7–10 days after the news, but the overall risk-reward remains limited. Those holding for more than three weeks face a higher risk of losses. This contrasts with Bitcoin ETF news, which often leads to more sustained price gains. The findings highlight the importance of conducting asset-specific event analyses before making investment decisions.