Dogecoin has gained over 15% on a weekly basis, drawing attention from both large holders and exchange-traded fund investors after months of subdued activity in spot DOGE ETFs.
Spot Dogecoin ETFs, which launched on Wall Street in November, initially struggled to attract investor interest, with entire weeks passing without net inflows. One fund manager, Bitwise, closed its Dogecoin ETF earlier this month. However, recent weeks have shown improvement.
During the past week, DOGE ETFs reached a new all-time high for weekly net inflows, attracting nearly $2.90 million. Cumulative net inflows to these funds have reached $15.27 million. Despite this milestone, inflows remain modest compared to other crypto ETFs, reflecting limited institutional appetite for meme coins.
Whale Accumulation Activity
Cryptocurrency analyst Ali Martinez reported that large holders purchased over 1.14 billion Dogecoin tokens within a 96-hour period, representing approximately $112 million at current prices. Martinez suggested that whales appear to be positioning for a significant price movement.
Dogecoin is currently trading near the $0.098 level, which represents a major technical resistance zone where approximately 28 billion tokens previously traded. Since rebounding from lows below $0.07 in mid-August, the asset has tested this resistance level multiple times without breaking through.
If the asset breaks past $0.098, the next supply wall sits at $0.11, where roughly 5 billion tokens previously changed hands. Beyond that, $0.20 represents the next significant technical obstacle.
