
Jakarta, Pintu News – Dogecoin has experienced a drop in value in recent days, in line with the bearish sentiment sweeping the crypto market at large. Despite the decline, Dogecoin is currently overvalued due to heightened speculation ahead of the launch of the Dogecoin ETF by Grayscale (GDOG). This coming Monday could be a significant turning point for Dogecoin’s future.

Dogecoin’s (DOGE) NVT ratio experienced a sharp spike, indicating a mismatch between valuation and on-chain activity. This ratio compares market capitalization to transaction volume, and spikes usually indicate limited transactional utility compared to price. Although Dogecoin gained a lot of social attention and widespread support, its actual transaction rate did not follow suit.
This mismatch often leads to overvaluation, which in bearish conditions can trigger a decline. However, this spike coincides with the anticipated launch of the Dogecoin ETF by Grayscale. This ETF is expected to attract significant capital flows, which could reset the NVT Ratio and restore balance between price and on-chain activity.
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Currently, Dogecoin is trading at $0.143 and is holding near the $0.142 support level. The meme coin is stuck under a month-long downtrend that it has repeatedly failed to break. The current bearish conditions make recovery difficult in the absence of significant catalysts.
The launch of the DOGE ETF could be that catalyst. A successful debut could lift DOGE above $0.151, paving the way towards $0.165. A move of this scale would invalidate the downtrend and signal a shift in momentum supported by fresh inflows.

If the ETF hype does not turn into buying pressure, Dogecoin could extend its decline. A drop towards $0.130 remains possible. However, if DOGE does not experience this sharp decline, it will likely continue to struggle below the $0.151 resistance, extending its ongoing downtrend.
With the launch of the Dogecoin ETF by Grayscale, investors and market watchers should keep an eye on Dogecoin’s price dynamics which could change significantly. Next Monday may be a crucial day for Dogecoin’s future, especially in determining whether the coin will continue to decline or start a new upward trend.
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A1: Dogecoin (DOGE) is a cryptocurrency that was originally created as a joke but has grown into an asset with huge community support and a significant market capitalization.
A2: The Dogecoin ETF by Grayscale is a fund that aims to give investors exposure to Dogecoin without the need for them to hold the coin directly, easing investment in this crypto asset.
A3: The launch of the Dogecoin ETF by Grayscale is anticipated to happen this coming Monday, although the exact date has not been officially announced.
A4: The NVT ratio is a metric that compares the market capitalization of a crypto to its on-chain transaction volume. For Dogecoin, the spike in this ratio suggests that the current price may not be supported by enough transactional activity.
A5: The launch of the Dogecoin ETF could potentially boost the price of DOGE if it manages to attract new capital flows into the asset, but failure to attract buyers could lead to further declines.