Dogecoin (DOGE) saw mild downside pressure over the past day, slipping 0.92% to around $0.138. Trading volume reached $1.08 billion, while its market cap held steady at $22.4 billion, keeping DOGE comfortably in the #9 position globally. Price fluctuations stayed within a relatively tight $0.135–$0.143 range.
According to CoinMarketCap data, DOGE’s circulating supply remains at 161 billion, with the Fear & Greed Index at 45 a neutral reading. On-chain transaction fees were notably low at just $1,569, yet the network saw a major jump in user engagement:
➡️ Active addresses surged to 71,600, the highest level in three months.
➡️ DeFi TVL rose slightly to $500 million (+1%), signaling a slow but steady uptick in fundamental demand.
ETF Flows: DOGE Sees Minimal Outflow as Meme Assets Shift Toward Institutions
A key talking point comes from ETF activity. The DOGE ETF recorded a small weekly outflow of $0.3 million, especially modest compared to XRP’s massive $230.7 million inflow.
Meanwhile, two newly launched meme-linked products Grayscale’s GDOG and Bitwise’s BWOW brought in $2.85 million during their first week.
Analysts attribute this early inflow partly to Vanguard enabling crypto access for 50M+ clients, marking a noteworthy step in meme coins evolving from pure hype assets to institutional-friendly tools.
Community & Influencers Spark Sentiment Swings
The DOGE community remained active across social platforms:
🐶 CZ joked on X:
“If DOGE doesn’t explode, the market won’t wake up.”
🐶 Elon Musk retweeted a “Shiba Inu to the Moon” meme, helping revive trading enthusiasm after a 53.8% slump in volume earlier in the week.
On-chain behavior also shifted:
Whales accumulated 550M DOGE (~$71.8M), breaking a two-month selling streak.
However, futures open interest fell to 9.82B DOGE, reflecting more cautious leveraged positioning.
Analyst Outlook: Key Levels & Mid-Term Narrative
Experts highlight $0.135 as the crucial near-term support. If DOGE holds above this zone, analysts see a possible:
📈 Short-term retest of $0.15 resistance
📈 Potential move toward $0.27 in 2025, supported by the RWA payment adoption trend
However, macroeconomic pressure or fading liquidity could pull DOGE back to $0.13.
Bigger Picture: From Meme Culture to Functional Utility
Dogecoin appears to be entering a new phase shifting from meme-driven hype to a more utility-focused ecosystem. With ETF flows, increasing on-chain participation, and growing institutional interest, DOGE’s “community-fueled resilience” narrative is gaining traction.
Investors are encouraged to monitor:
✔ ETF inflows/outflows
✔ Network activity
✔ Whale behavior
✔ Liquidity conditions
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