Dogecoin ETF launch saw $17M volume, ranking among the top five ETF debuts in the US.
More than 158 million Dogecoin (DOGE) have been added to wallets holding between 1 million and 10 million coins, according to on-chain data shared by crypto analyst Ali Martinez. This increase brought the total held by this group of wallets above 11 billion DOGE.
It’s worth noting that while this cohort of whales (1,000,000-10,000,000 million coins) had begun to reaccumulate at this level, the same cannot be said about the most recent moves by larger investors (100,000,000-1,000,000,000 coins).
Recall that the latter group of DOGE holders disposed of roughly 680 million tokens in the span of just four days, as reported recently.
DOGE trades at $0.28 at the time of writing. It is down 1% over the past 24 hours but up 5% for the week. Trading volume over the last day crossed $3.95 billion.
DOGE has tested the $0.29 price level several times since March without a confirmed breakout. Charts posted by Martinez show four separate price peaks around this point that were followed by a pullback. The asset is again approaching this area. He said,
“Breaking $0.29 will send Dogecoin $DOGE flying to $0.36 and even $0.45.”
This view is based on the following areas where price previously stalled. These levels are being watched by traders looking for follow-through if $0.29 is breached.
DOGE is currently trading just below this level. A breakout would mark the first close above $0.29 in months. Until then, it remains a major resistance zone.
Trader Tardigrade posted a chart showing how DOGE has been reacting to the 0.382 Fibonacci retracement level, which sits close to $0.263. In their analysis, three daily candles showed sharp dips to this level, followed by quick recoveries.
They noted: “Nice wicks down to Fib 0.382,” referring to price rejection at that level. All three attempts to push below $0.263 were met with buyers stepping in before the candle closed. The zone has so far held as support.
Notably, there is still a chance the price could revisit this level, but if it holds, traders expect a move toward recent highs. The previous local peak near $0.31-$0.32 remains the next area to watch if the uptrend continues.
On Thursday, the REX-Osprey Dogecoin ETF (ticker: DOJE) launched in the US, bringing DOGE to public markets in a new format. The product drew $17 million in trading volume on its first day, putting it among the five biggest ETF launches of the year.
This came alongside the debut of another crypto ETF tied to XRP. Both listings suggest growing demand for spot crypto funds beyond just Bitcoin or Ethereum. While DOGE is often known as a meme-based coin, this ETF shows there’s growing interest in tracking it through traditional financial products.
DOGE’s recent moves, combined with ETF market entry and rising accumulation from larger holders, have added momentum to current market discussions.
