Whales do not sit still when they smell blood in the water, and this week, Dogecoin wallets loaded with between 100 million and one billion coins saw a sudden surge. In just 48 hours, more than two billion DOGE changed hands into these addresses, which is a grab worth around $480 million at today’s prices.
The most important thing here is the price. Dogecoin has dipped since its mid-September spike above $0.30 and is currently trading at around $0.23-$0.24. That is the same zone where it bounced repeatedly over the summer, basically the lower boundary of the rising channel.
If you are a trader keeping an eye on the chart, you will know that this is the line that has to hold. The fact that whales picked this exact time to reload looks like it was done on purpose, not just randomly.
Dogecoin ETF with boost
New Dogecoin-focused investment product DOGE ETF REX-Osprey has pulled in nearly $8 million across its first four trading days. The biggest inflow came on Monday, $4.3 million when the rest of the market was dropping, followed by $600,000 on Tuesday.
For a new meme coin ETF, that is serious money, and it is, of course, supportive to the price of the underlying asset, Dogecoin.
Futures data suggests the pressure cooker is cooling: DOGE liquidations have fallen, meaning fewer forced sellers. The price remains above the 50- and 100-day averages, supporting the bullish structure.
With rising demand, ETF inflows and favorable technicals, the next target is $0.3076 — the September high, about 25% above the recent low. If Dogecoin clears it, the meme coin story will flip from defensive bounce to breakout attempt.