DOGE on Fire: 12% Jump Amidst ETF Hype – What’s Next?

Updated

April 23, 2025

Gambar DOGE on Fire: 12% Jump Amidst ETF Hype – What’s Next?

Jakarta, Pintu News – Amidst the crypto market revival happening today, Dogecoin stole the show after recording a huge spike in large transaction volume and wallet activity, surpassing Bitcoin based on data from IntoTheBlock.

So, how is the Dogecoin price moving today?

Dogecoin Price Rises 12.82% in 24 hours

As of April 23, 2025, Dogecoin (DOGE) is on the rise, surging 12.82% over the past 24 hours to trade at $0.1807, or approximately IDR 3,053. During the day, DOGE hit a low of IDR 2,706 and climbed as high as IDR 3,108, marking a notable upswing in price action.

At the time of writing, Dogecoin’s market cap stands at around $26.91 billion, with trading volume rising 88% to $1.8 billion within 24 hours.

Dogecoin Beats Bitcoin in Transaction Volume

Based on the latest data from IntoTheBlock (4/21/25), Dogecoin outperformed Bitcoin in large transaction volume and number of daily active addresses by 41.12% and 34.91% respectively.

Meanwhile, Bitcoin actually experienced a decline, with large transaction volumes down 11.26% and daily active addresses decreasing by 10.25%, despite the overall market recovery.

DOGE ETF Review Opens New Hope

Although the Dogecoin price has been at low levels in recent weeks, bullish sentiment towards DOGE has started to increase, mostly fueled by speculation about the possibility of a Dogecoin ETF.

This enthusiasm was further heightened after the annual Doge Day celebration on April 20-a special day celebrated by the Dogecoin community to show support for the asset, which reignited market excitement and optimism.

In a moment of celebration, attention turned to the review process being conducted by the United States SEC on various Dogecoin ETF proposals, putting the topic in the spotlight.

Several proposals from large asset managers such as Bitwise, Grayscale, 21Shares, and Osprey Funds are currently pending approval from the SEC.

However, investor sentiment shows growing optimism towards the chances of DOGE ETF approval, which is expected to be announced as early as May 18.

If approved, many believe that this ETF could be a huge catalyst for a Dogecoin price spike in 2025, especially with the current increase in whale activity and user engagement.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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