Two prominent cryptocurrency market experts have discussed the future outlook for meme coins in the current market cycle, foreseeing the imminent launch of a Dogecoin Exchange-Traded Fund (ETF).

Crypto Leaders Discuss Potential Dogecoin ETF

Arthur Hayes, co-founder of BitMEX, and Raoul Pal, CEO and co-founder of Real Vision, recently appeared on a YouTube podcast hosted by Coin Bureau. They shared insights into the growing traction of meme coins in the market, particularly highlighting the potential for a Dogecoin ETF.

Hayes expressed confidence that Dogecoin could see an ETF by the end of this market cycle, citing its significant growth trajectory and status as the oldest meme coin in the crypto sphere. He emphasized Dogecoin's substantial market capitalization, which has surged to approximately $19.7 billion, making it the largest meme-based cryptocurrency globally according to CoinMarketCap.

Furthermore, Hayes underscored Dogecoin's cultural impact and its robust community, which has garnered millions of supporters and investors over time.

Pal echoed Hayes' optimism about a Dogecoin ETF, aligning with the prediction for it to materialize by the cycle's end. He revealed discussions with Jan van Eck, CEO of VanEck, an investment management firm known for its Spot Bitcoin ETFs, regarding the potential for a Dogecoin ETF. Pal advocated strongly for this development, noting Dogecoin's consistent outperformance of Bitcoin during bull cycles and its significant role in the crypto market.

In addition to discussing Dogecoin, Hayes and Pal offered insights into other meme coins expected to have a strong narrative impact in the current crypto market cycle. Pal disclosed his investments in Dogecoin and his predominant focus on Solana (SOL), where he has a 90% long position. Meanwhile, Hayes highlighted his diversified meme coin portfolio, which includes investments in prominent tokens like Bonk (BONK), Dogwifhat (WIF), and Dogecoin. He advised a strategic approach for 2024, emphasizing the importance of holding positions, avoiding panic selling, and minimizing leverage in volatile markets.