Dogecoin (DOGE): Dogecoin ETF gives legitimacy to meme coin

There's a lot of good that comes with ETF approval. The SEC's approval of an ETF means that the token is viable for investment.

Dogecoin (DOGE) active addresses skyrocketed by 528% in a single day, increasing from approximately 74,640 to 469,477. This incredible surge coincided with the U.S. Securities and Exchange Commission (SEC) granting approval for 21Shares’ filing of a spot Dogecoin ETF.

While the approval of the ETF is certainly a hot topic, it's no surprise given the SEC's recent openness to approving several crypto ETFs. However, the swift and substantial increase in Dogecoin addresses is noteworthy.

This surge in network activity is especially interesting given that it follows a period of downturn for Dogecoin. The meme coin has experienced a 30% decline in year-to-date figures and is down 70% from its all-time high.

Furthermore, considering that Coincodex predicts no significant organic price increases for Dogecoin over the next five years—anticipating a mere 18% rise by the end of 2030—the approval of an ETF could be pivotal in driving Dogecoin towards that 400% surge.

However, before investing in a Dogecoin ETF and hoping for a price increase, it's worth considering the broader implications of this event.

The approval of an ETF signifies that the token is viable for investment, presenting an opportunity for the coin to soar. It's a green light that could significantly impact the token's performance.

This impact is already being felt. In tandem with the spike in network activity, Dogecoin futures open interest rose by 70%, reaching $1.65 billion. This uptick suggests heightened speculative interest and trader confidence.

Essentially, the Dogecoin ETF provides the meme coin with a much-needed boost. It remains to be seen how this will factor out over the next few months, but it will be interesting to observe.

The world has seen driverless cars, private space flight, instant global communications, and the adoption of artificial intelligence. Yet, global payments are still largely stuck in the middle of the last century.

Transferring money from one country to another is expensive, time-consuming, and requires administrative tasks that are best suited to a 20th-century bureaucracy. This is a problem that crypto was designed to solve, but so far, it hasn't, and the banking system remains mired in 1960s technology.

But now, one token is changing the game and challenging the hegemony of the banking system—at least as far as payments are concerned.

This token is Remittix (RTX), which is offering the facility for its users to make direct-to-bank account payments using blockchain technology and cryptocurrency to almost any fiat-based bank account in the world.

This is a massive shakeup and the biggest market disruptor since Bitcoin itself rose to prominence. The capacity for commerce and industry to pay internationally through a system that clears almost immediately, costs a fraction of the price, and eliminates the administrative duties of paperwork will have an enormous positive impact on the economy.

Essentially, this greases the wheels of trade, and another big winner here is the world's 1.4 billion unbanked, who now have a chance to participate in the formal economic system. This is a huge win for everyone. Even YouTube is raving about Remittix's capacity to be the next great crypto.

While a Dogecoin ETF could see the meme coin's price spike, the reality on the ground is that it likely won't. Meme coins are old hat, and the world is moving on to utility coins. This is why Remittix has seen over $15 million in liquidity thus far, as this token can be the key to financial freedom that the world has been demanding.