The Grayscale Dogecoin ETF experienced a dramatic 80% drop in a single trading session, underscoring the difficulties of institutionalizing meme coins. This sharp decline has highlighted significant liquidity issues and the speculative volatility inherent in such assets. The event has sparked debate over the feasibility of regulated products for meme coins, emphasizing the gap between institutional expectations and community-driven narratives. This development raises questions about the future of meme coins in institutional portfolios, as the ETF's performance contrasts sharply with the community-focused approach of projects like Maxi Doge ($MAXI), which prioritize engagement and humor over traditional financial metrics.