Well, well, well! If it isn’t our old pal Dogecoin, taking a little tumble-a less-than-one-percent dip in the last 24 hours! While the other memecoins are out there strutting their stuff like they own the place, Dogecoin is just hanging around, looking for a good meme to attach itself to.
Meanwhile, the whales are busy playing poker with WHITEWHALE and its AI buddies, but when it comes to DOGE, it’s a different ball game. Will the shiny new 21Shares Dogecoin ETF swoop in like a superhero to save the day? Stay tuned, folks!
Will Whales’ Redistribution Bring the House Down?
According to the ever-enthusiastic analyst Ali (who might just have a pet whale), these big fish have shimmied around a whopping 410 million DOGE tokens since last week. Right now, they’re sitting pretty with over 17.34 billion DOGE-like Scrooge McDuck in a vault of coins!
This means sell pressure has been building up like a bad case of indigestion. It could be the whales are just repositioning their funds into fancy new wallets-because who doesn’t love a good wallet?
If this was a sale, the charts are screaming it too! Trader Tardigrade-yes, that’s a name-points out a bearish pennant pattern that could send DOGE spiraling down to $0.108. But wait! There’s more!
Despite the doom and gloom, trading activity could go through the roof as more users discover our beloved memecoin. It’s like opening a surprise gift on your birthday-only the gift is a volatile cryptocurrency!
Will the DOGE ETF Make Waves?
The aforementioned redistribution follows the launch of the 21Shares Dogecoin ETF (ticker: TDOG) on Nasdaq this week. Approved by the SEC, no less! Now DOGE is officially a serious asset class-not just a meme you share with your cat!
With traditional investors in the mix, we can expect more trading action than a rom-com at the box office. And guess what? Wall Street is gearing up for even more DOGE ETFs. Who knew investing could be so much fun?
But wait, there’s more! Shopify has jumped on the Dogecoin bandwagon, letting customers pay with DOGE after cozying up to Coinbase. Talk about a match made in crypto heaven!
These developments have put a little pep in Dogecoin’s step, but will it hold above that pesky descending resistance? The suspense is killing me!
What Do the Price Charts Have to Say?
As of this moment, Dogecoin is trading above a trendline, potentially ready to retest the breakout. If it bounces off the $0.1243 level, we might just see DOGE soaring like a rocket to levels not seen since 2025-above the $0.30 mark! Can we get a “Yay!”?
However, don’t let your excitement run wild just yet! The MACD is still throwing up bearish signals, but the momentum is fading, like that last slice of pizza at a party. And the Cumulative Volume Difference (CVD) is negative, reading a mere $1.27 million, which suggests those bears are finally taking a breather.
Looking at the bigger picture, Dogecoin is still stuck in a bear structure. But if those market bulls keep charging ahead and the 21Shares Dogecoin ETF pulls through, we might just reverse this recent price weakness and have ourselves a meme party!
Final Thoughts
- Whales have redistributed about 410M DOGE, hinting at potential sell pressure – grab your popcorn!
- 21Shares DOGE ETF trading on Nasdaq could help flip the script on our favorite memecoin’s price woes. Let’s hope for a happy ending!
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2026-01-24 19:23