I noticed that Dogecoin's SEC-approved ETF officially started trading this week on Nasdaq. Listed under the ticker TDOG, this Dogecoin ETF approval marked an interesting milestone in the memecoin market. While Shiba Inu remains on the waiting list, DOGE has taken the lead.

In fact, it's a bit surprising that Shiba Inu is so far behind because technically it meets all the requirements. The SEC had already confirmed that SHIB is not a security, and Grayscale had prepared an application. But no major asset manager has officially taken action. The team's anonymous structure, slow development, and the fact that institutions tend to hesitate with incomplete projects are said to be factors.

Current market caps also clearly show the difference: DOGE reaches $15 billion, while SHIB stays at $3.6 billion. With the Dogecoin ETF approval, this gap could widen further. I'm curious to see how institutional capital flow will reshape the memecoin sector.