Dogecoin Slips Today, But On-Chain Signals Point to Potential Upside

Jakarta, Pintu News – Although the crypto market corrected by $20 billion in September, Dogecoin (DOGE) ended the month with a 9% ROI. On-chain data shows that the top 1% of addresses now account for 96.45% of DOGE’s total supply, signaling strong support fromsmart money.

In addition, whales added around 30 million DOGE holdings, while the NUPL indicator shows a solid support area in the $0.23-$0.25 range. Many HODLers have also started to make profits again, creating the potential for DOGE to break the $0.30 level while reigniting positive sentiment regarding the Dogecoin ETF.

Then, how is the current Dogecoin price movement?

Dogecoin Price Drops 1.94% in 24 Hours

On October 6, 2025, Dogecoin slipped 2.28% in the past 24 hours, trading at $0.2541, or roughly IDR 4,186. During the same period, DOGE fluctuated between IDR 4,367 and IDR 4,138.

At the time of writing, Dogecoin’s market capitalization stands at approximately IDR 636.76 trillion, with a 24-hour trading volume of around IDR 50.35 trillion.

Read also: Ethereum Holds Steady at $4,500 as Whales Unload Massive Holdings — Here’s Why

What Makes the Outlook for Dogecoin in the Fourth Quarter Look Bullish?

According to AMB Crypto (5/10), Dogecoin is starting to show signs that the much-talked-about “ETF hype” is not just a momentary euphoria. Although the memecoin sector lost around $20 billion in the second half of September, DOGE was able to record a net gain of 9%.

In the last 30 days, DOGE’s performance even led the market with a 21% gain, in sharp contrast to the first and second quarter of this year when its value plummeted by more than 50% after an election sentiment-based rally to $0.40.

DOGE’s resilience in the third quarter-with ROI reaching over 41%-suggests a significant change in sentiment. Many traders are starting to return to the classic “high-risk, high-reward” pattern, signaling increased risk appetite in the crypto market.

Another factor reinforcing this momentum is the ownership of the top 1% of addresses which now controls 96.45% of total DOGE supply, an all-time record high. Activity in the derivatives market has also remained subdued, suggesting that demand in the spot market remains strong with no signs of excessive leverage.

In addition, on-chain analysts noted that whales started to make new accumulations at the beginning of the fourth quarter, with an additional 30 million DOGE, in line with a monthly price increase of around 13%, which already surpasses the performance of many other altcoins.

All in all, smart money seems to be heading back towards DOGE. Even amidst a cautious market phase, new capital continues to flow in while speculative positions remain under control – creating an ideal setup for the Dogecoin ETF narrative towards the end of the year.

DOGE’s On-Chain Activity Drives Stronger Upside Potential

Solid on-chain activity is starting to pay off for Dogecoin (DOGE). In the third quarter, DOGE recorded a 41% increase in ROI, marking its most bullish rally since the election-induced price spike.

Read also: FLOKI Makes History with Europe’s First ETP Launch and Spectacular Price Spike

Even so, this performance still masks the 47% loss incurred in the first quarter, so some early-year investors are stillunderwater.

Based on the NRPL (Net Realized Profit/Loss) indicator, DOGE’s drop below $0.23 briefly turned market sentiment negative. Many traders unwound positions to avoid further losses, so the area is now an important support zone for DOGE’s movement in the fourth quarter.

In other words, as long as DOGE is able to hold at that support level, the FOMO sentiment remains alive. At the time of writing, DOGE’s price is hovering around $0.26, up 5% in the last 24 hours, while the $0.24-$0.25 range forms the third higher low which is in line with accumulation by big investors(smart money).

Simply put, bulls are now building a strong market structure with whale support. In this context, with HODLers making profits again and FOMO increasing, the opportunity for bigger gains is opening up.

If DOGE manages to break the $0.30 level, this could potentially reinforce the Dogecoin ETF narrative that is currently stealing the market’s attention.

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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:

• AMB Crypto. Dogecoin’s Q4: Whales stack, FOMO holds, and ETF dream comes true. Accessed on October 6, 2025