CoinDesk Podcast Network DOGE Surges to $0.145 as D.O.G.E Calls It Quits | CoinDesk Daily
Nov 24, 2025
Elon Musk's D.O.G.E. department is officially dissolving, yet Dogecoin is seeing a surprising surge, spurred by the news of a DOGE ETF from Grayscale. Meanwhile, in the mining sector, profitability is declining as miners in Xinjiang utilize surplus power amid a record-low bitcoin hash price. BlackRock's IBIT is making waves, controlling nearly 70% of ETF trading, even as institutional redemptions hit $3.5 billion. As the crypto landscape shifts, excitement and uncertainty coexist in equal measure.
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DOGE Rallies On ETF Optimism
- Dogecoin rallied to $0.145 despite broader crypto weakness due to renewed optimism about Grayscale's upcoming GDOG spot ETF.
- This ETF news acted as a rare bullish catalyst even as Bitcoin and Ether traded sharply lower for the week.
D.O.G.E. Department Dissolves
- Sam Ewen notes the White House confirmed the Department of Governmental Efficiency, Doge, has dissolved after a split between Musk and President Trump.
- The formal end of Elon Musk's Doge department came eight months early and coincided with DOGE's price move.
China's Quiet Bitcoin Mining Return
- China appears to be staging a covert comeback in Bitcoin mining, rising to an estimated 14–20% of global hash rate.
- Miners exploit surplus cheap electricity in regions like Xinjiang despite a formal mining ban since 2021.