Wall Street just got a little more meme-friendly. Dogecoin (DOGE) now has its own leveraged exchange-traded fund, and the cryptocurrency's official account responded in the most on-brand way possible.

Double Your Dogecoin, Double Your Fun

The 21Shares 2x Long Dogecoin ETF started trading Thursday on the Nasdaq stock exchange under the ticker TSSD. The fund is designed to deliver twice the daily performance of Dogecoin before fees and expenses, giving investors a way to amplify their exposure to the meme coin without actually buying crypto directly.

Dogecoin's official X account marked the occasion by sharing an image of a Nasdaq billboard congratulating the launch, complete with a stylized Shiba Inu dog. The response? A characteristically understated "Much congrats," playing off the meme coin's signature broken-English catchphrases.

According to a press release from 21Shares, the ETF lets investors gain leveraged exposure to Dogecoin through a regulated, exchange-traded structure that can be purchased directly through their bank or broker. It's the traditional finance wrapper for a decidedly non-traditional asset.

The launch comes as Dogecoin enthusiasts also await Grayscale's ETF, which is designed to track the spot price of the leading memecoin rather than offering leveraged returns.

Reality Bites Back

If you were hoping the ETF news would send DOGE to the moon, Thursday's price action had other plans. The cryptocurrency tumbled despite the milestone, dragged down by broader market weakness.

Technical indicators painted a grim picture. The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset's price, flashed a "Sell" signal for DOGE, according to TradingView. The Relative Strength Index was approaching oversold territory, suggesting there might still be room for a potential rebound.

Price Action: At the time of writing, DOGE was trading at $0.1469, down 6.72% in the last 24 hours and over 10% for the week, according to data from Benzinga Pro.