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DOGE ETF: first results

The strong debut of the Rex-Osprey DOGE ETF has sparked intense discussion across the crypto community and fueled optimism about a significant Dogecoin price rally in the near term.

Balchunas had initially projected a modest $2.5 million for the ETF’s entire first trading day, but the product has far surpassed those expectations.

This performance places Dogecoin among the most successful crypto-based investment products launched to date, outpacing many earlier ETFs that struggled to surpass $1 million in day-one volume.

Momentum around Dogecoin continues to build as the 21Shares spot-based DOGE ETF proposal was recently listed on the Depository Trust & Clearing Corporation (DTCC), signaling potential for additional market adoption.

Meanwhile, the U.S. SEC is reviewing further Dogecoin ETF applications from Grayscale and Bitwise, with a final decision expected on October 17. The success of the first DOGE ETF has likely improved the odds of approval for these upcoming filings.

Dogecoin price prediction

Dogecoin’s price responded positively to the news, climbing 5.12% in the first 24 hours to $0.28 and extending a two-day rally to reach an intraday high of $0.285 on September 18.

This week, the token was consolidating above its breakout zone, with traders eyeing resistance levels at $0.39 and $0.43-$0.45. However, a fierce correction followed, with DOGE price hotting the floor at $0.22.

Source: CoinMarketCap

Historically, Dogecoin has shown a tendency to surge quickly once key resistances flip into support, suggesting further upside could be on the horizon as retail demand accelerates.

Should Dogecoin reclaim $0.45, it would return to price levels last seen at the end of 2021. This time, however, the move would come off a much stronger base near $0.20-$0.25, giving the rally a more sustainable structure.

With ETF liquidity confirmed, institutional wallets reportedly accumulating nine-figure sums, and price levels approaching $0.30, top meme coin traders argue that the path to $1 DOGE is becoming more likely in this market cycle.

The stock price of a company that is in the middle of a major recall still managed to see a 15% gain by the time the market closed Friday.

That recall has been issued for nearly 760,000 power tools following reports of explosions and fire hazards.

The move is one to watch because some companies in the power washer market are beginning to integrate into their devices. These AI-powered pressure washers can analyze the surface being cleaned and optimize their own performance to provide a better result with less effort.

Ryobi uses AI technology in some areas of its business, particularly through a financial technology subsidiary, Financial AlgoTech Company (FATC). In its power tools division, Ryobi uses more fundamental smart technology rather than advanced AI. Some AI-generated imagery has also been found in Ryobi’s marketing, which has generated negative customer feedback.

The Consumer Product Safety Commission (CPSC) announced that the affected tools, manufactured by Ryobi (RYBIF), pose a risk of injury due to overheating and malfunctioning components.

Ryobi-branded power tools in North America are manufactured and distributed by Techtronic Industries (TTI), a Hong Kong-based company that also owns Milwaukee Tool and other brands.

The recall covers a range of cordless drills and other handheld power tools sold nationwide, with consumers urged to stop using the products immediately. No serious injuries have been reported, but the risk of burns, lacerations, and property damage has prompted regulators to act swiftly.

What happens with these malfunctioning items?

The Consumer Product Safety Commission (CPSC) announced that the two models, RY142300 and RY142711VNM, have been linked to at least 135 incidents of capacitor failures, with over 40 cases resulting in explosions.

These explosions have caused multiple injuries, including finger amputations, fractures, and burns to users’ hands, faces, and eyes. The risks are significant enough that experts warn against continued use of the recalled pressure washers until repairs are made.

Home Depot and Direct Tools Factory Outlet sold approximately 764,000 units of these models in the U.S. between July 2017 and June 2024, with about 16,000 units sold in Canada.

Consumers are urged to stop using the products immediately, register for repairs, and contact the manufacturer for a free replacement or repair.

How does the affect tech?

This recall underscores ongoing concerns about product safety in outdoor power tools, many of which are used by big tech giants who manufacture everything from EVs to space ships, which often operate under high pressure and electrical stress, making rigorous safety checks imperative.

The manufacturer has offered free replacements and repair kits to affected customers. Consumers can check their product’s model number and serial number on the company’s website or contact customer service to determine if their tool is included in the recall.

This incident underscores ongoing concerns about product safety and the importance of vigilant oversight in manufacturing. Regulators continue to monitor for potential hazards associated with power tools and other consumer electronics to protect public safety.

Worried you might be affected? You can call RYOBI Customer Service at 1-800-597-9624 from 9 a.m. to 5 p.m. Eastern time.

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