On Monday, Dogecoin (DOGE), the top memecoin by reported market cap of more than $15.5 billion received a major institutional nod of approval. Paxos, a leading blockchain infrastructure firm has inked a partnership with House of Doge – the corporate concern behind Dogecoin – that could widen the latter’s acceptance in mainstream finance.
Dogecoin comes of age as a memecoin
According to the finer details of the integration, Paxos’ brokerage and custody platform will enable its financial technology, payments, and institutional clients to consider support for the leading memecoin, DOGE.
Paxos’ clientele consists of various high-profile firms – such as Venmo, Mercado Libre, PayPal, and Interactive Brokers, among others.
It’s worth stressing that the partnership doesn’t automatically mean that the aforementioned companies will mandatorily offer DOGE trading or custody services. Rather, what it does mean is that these companies will now have the option to evaluate – and if desired – integrate Dogecoin into their product offerings.
Despite being the largest memecoin, institutional support in DOGE has been a mixed-bag, especially when seen in context with leading cryptocurrencies like Bitcoin (BTC), and Ethereum (ETH), and even digital assets that have recently gained traction, such as Hyperliquid’s HYPE token.
Data from SoSoValue shows that the cumulative total net inflow in U.S.-based spot Dogecoin exchange-traded funds (ETFs) is currently barely above $11 million. Similarly, the total net assets tied in DOGE ETFs hover over $14 million.
The following weekly chart shows the irregular capital inflows in DOGE ETFs, with 3 weeks in March 2026 recording absolutely no inflows. The highest total weekly net inflow on record occurred at the beginning of the year, in January.
DOGE price yet to show positive momentum
While the partnership with Paxos is likely to work as a positive catalyst for DOGE, the digital currency has so far failed to show any serious upward price trajectory.
In an X post on Sunday, technical analyst XRP Captain shared the following weekly chart, predicting that DOGE is on its way to $1.50 – potentially recording gains to the tune of 1,388 percent.
A resurgence in positive investor sentiment toward memecoins could make things easier for cryptocurrencies like DOGE, SHIB, and others. On May 8, several Solana UFO-based memecoins skyrocketed shortly following the Pentagon’s release of the so-called ‘alien’ files.