Dogecoin Slips Slightly as ETF Expectations Spark a Wave of Selling

Jakarta, Pintu News – Dogecoin (DOGE) has experienced a price surge in recent days, driven by expectations of a possible DOGE ETF launch. The meme coin has continued to register a gradual rise, but the surge has also been accompanied by a massive wave of sell-offs from investors, including large holders.

Despite the profit-taking, the bullish momentum persists, making DOGE a major highlight in the crypto market today. So, how will Dogecoin price move today?

Dogecoin Price Drops 1.57% in 24 Hours

On September 19, 2025, Dogecoin saw a modest decline of 1.57% over the past 24 hours, trading at $0.2768 — approximately IDR 4,575. During that period, DOGE fluctuated between IDR 4,535 and IDR 4,731.

As of this writing, Dogecoin’s market capitalization is around IDR 691.92 trillion, with a 24-hour trading volume of approximately IDR 66.41 trillion.

Read also: Dogecoin ETF Excitement Fades as Whales Pull Back and Traders Race to Sell

Dogecoin Holders Start Selling

Dogecoin balances on exchanges have soared sharply so far this month, signaling that investors are preparing to sell. Since the beginning of September, around 5.81 billion DOGE – worth more than $1.63 billion – has been moved across various trading platforms.

This spike reflects the increased caution among traders, despite the market’s enthusiasm regarding the potential approval of the DOGE ETF.

The ETF’s optimism-driven price increase creates a strategic opportunity for investors to secure profits. While this selling pressure has so far failed to halt Dogecoin’s price rise, it does raise concerns about the sustainability of the bullish trend.

If profit-taking becomes more massive, the positive momentum could weaken in the next few trading sessions.

The Coin Days Destroyed (CDD) indicator also provided new warning signals. For the first time in over a month, long-term holders started moving their assets. Historically, this kind of activity is often interpreted as the first step before a major sell-off, and is usually a bearish signal.

Previously, long-term holders have provided stability to the market by not selling heavily. However, their recent moves indicate a potential vulnerability in the market.

If these large wallets begin to liquidate, the resulting selling pressure could threaten Dogecoin’s price gains and erode investor confidence – even amid positive sentiment regarding the ETF.

Read also: Pi Network Price Slips on September 19 — Fed Rate Cut Fails to Lift Pi Coin

DOGE Price Needs Real Support from ETF Launches

As of September 18, Dogecoin was trading at $0.282, registering a gain of around 17% in the past week. The meme-themed crypto asset is slightly below an important resistance level at $0.287, while trying to maintain $0.273 as a key support level that could be a determinant of price direction in the short term.

However, if inflows to exchanges and profit-taking continue to suppress market momentum, DOGE risks losing support at $0.273. If the breakdown occurs, the Dogecoin price could drop towards $0.241, which would be a trend reversal of the recent rally and raise a signal of caution for traders.

However, according to Bloomberg ETF analyst Eric Balchunas, if the DOGE ETF launch does happen today, market sentiment could change drastically. In that scenario, DOGE is likely to break the $0.287 level and test $0.300, potentially even going higher.

If that happens, the current selling pressure could be fully covered, and the bearish scenario would become irrelevant.

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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.

Reference:

• BeInCrypto. Over $1.6 Billion DOGE Sold This Month, But Dogecoin Price Continues to Rally, Here’s Why. Accessed on September 19, 2025