Whale Activity Heats Up Dogecoin as the ETF Breakthrough Nears

Jakarta, Pintu News – Dogecoin (DOGE) is entering a crucial phase as the possible launch of the first ETF by REX-Osprey starts to shake up the market.

On the other hand, the on-chain data shows that whales are doing a double take: some are offloading holdings, while others are accumulating heavily.

Caught between institutional expectations and unpredictable volatility, DOGE is now at a point of potential breakout, but also holds great risk for investors.

Expectations on DOGE ETF

The Dogecoin market recently heated up after REX Shares signaled that the REX-Osprey DOGE ETF could be launched as early as next week. Previously, REX-Osprey had filed a DOGE ETF registration with the SEC earlier this year.

Read also: Dogecoin Gains 2% Today (September 10): Bullish Momentum Shows Signs of Strength!

“It looks like Rex will be launching the Doge ETF via 40 Act rules similar to $SSK next week, based on the tweet below combined with their effective prospectus filing. Doge seems to be the first to be released, but the prospectus also lists Trump, XRP, and Bonk, so it’s possible they will follow at a later date. We’ll see,” said a Senior ETF Analyst from Bloomberg.

This is the first time an ETF product directly linked to DOGE has been publicly discussed.

If the REX-Osprey DOGE ETF does receive approval, it could potentially raise hopes of an influx of institutional capital into the memecoin, which in turn could drive future price growth.

Is DOGE Exploding?

Dogecoin’s latest on-chain data shows two opposing trends taking place simultaneously. On the one hand, according to analyst Ali, the TD Sequential indicator had reached its peak, but now it is giving a buy signal for DOGE.

Read also: Dogecoin FOMO Returns as DOGE ETF Launches: CleanCore Raises $175 Million!

On the other hand, Ali also noted that whales have allegedly sold around 200 million DOGE in just the last 48 hours. This shows a divided market: some big wallets are exiting, while the technical side shows that there is demand.

From a technical point of view, some analysts think that DOGE is still showing bullish signals. One account on X observed the movement in the 3-day timeframe, where DOGE appeared to bounce and consolidate, potentially breaking the local downtrend resistance.

Meanwhile, another analyst looking at the weekly timeframe presents a more optimistic scenario, predicting that DOGE could target the $1-$1.4 range if the breakout is successful.

As of September 9, 2025, DOGE was trading in the range of $0.213-$0.216 at 9:00 UTC. To reach the projected levels, DOGE needs to experience a significant surge from the current accumulation phase.

While the target may sound overly optimistic, attention to DOGE remains high especially with the potential approval of the REX-Osprey DOGE ETF.

However, previous experience has shown that the SEC review process of crypto-based products is often time-consuming and not free from the risk of delays. As such, DOGE’s current market reaction is driven more by expectation than certainty.

The whales’ recent sell-off can also be explained as a “sell the news” strategy, i.e. taking short-term profits amid FOMO-fueled retail investor inflows.

Overall, DOGE is currently at the crossroads between institutional expectations and whale-driven volatility. If the ETF is indeed approved, the medium-term impact is likely to be increased liquidity as well as a better valuation outlook for Dogecoin.

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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. Doge: Quo Vadis? ETF Nears and Whales Trade Aggressively. Accessed on September 10, 2025