Bloomberg analyst praises 2x DOGE ETF: Why it will be the top contender by early 2026

Bloomberg ETF analyst Eric Balchunas recently stated that the 2x Dogecoin ETF is one of the best-performing ETFs in early 2026. Behind this assessment is Dogecoin’s strong performance over the past week. According to the latest data, DOGE has increased by 18.91% over 7 days, driving the entire meme coin market to gain over 23% in a week, with market capitalization soaring from $38 billion to $47.7 billion. When leveraged products encounter such market performance, the amplification effect becomes evident.

Why is DOGE so hot

Market performance data speaks

As of January 4, 2026, Dogecoin’s market performance is indeed impressive:

This is not a flash in the pan. Looking at the 30-day data, DOGE has already accumulated a 5.47% increase, and the recent 18.91% rise over a week indicates that market sentiment is accelerating.

Why 2x leveraged ETFs are particularly eye-catching

The core logic of 2x leveraged products is simple: when the underlying asset rises, the returns of the leveraged product are amplified. DOGE’s recent performance provides a perfect stage for such products.

• DOGE increased by 18.91% over 7 days, theoretically approaching a 40% gain for 2x leveraged products (actual results may vary due to fees and other factors)
• The ripple effect across the entire meme coin market is also boosting DOGE’s performance
• Compared to the moderate performance of traditional stock ETFs, such gains could indeed make it a “top” candidate

Market background cannot be ignored

This surge is not isolated. Data shows that the entire meme coin ecosystem is heating up:

• Dogecoin up over 20%
• Shiba Inu up 19.9%
• Pepe surging over 65%
• Trading volume rising by 300%

This reflects a collective shift in market sentiment. Against the backdrop of Bitcoin returning to $91,000 and the overall crypto market only up 5%, meme coins are performing exceptionally well, indicating that funds are concentrating in high-risk, high-reward assets.

How important is Bloomberg analyst’s evaluation

Eric Balchunas is a senior ETF analyst at Bloomberg, and his views represent an objective record of market phenomena by a professional institution. The significance of this evaluation lies in:

• Confirming that the 2x DOGE ETF’s performance in the current market environment is indeed outstanding
• Reflecting increasing attention from traditional financial institutions to crypto ETF products
• Indirectly validating the current hotness of the meme coin market

However, it is important to note that this is an assessment of “past performance,” not a prediction of “future trends.”

Summary

Bloomberg analyst’s evaluation captures the reality of the market: in early 2026, amid the collective strength of meme coins and DOGE leading the rally, the 2x Dogecoin ETF has stood out among many ETF products. This reflects DOGE’s position as the leading meme coin and the magnifying effect of leverage products in specific market conditions.

However, high returns from leveraged products come with high risks, and market enthusiasm can cool quickly. The key is to understand the temporal nature of this evaluation—it refers to the “early 2026” performance, not a promise for the entire year or future.