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- Whales scooped 560 million DOGE amid its latest price dip<\/span><\/em><\/li>\n
- Will Grayscale\u2019s DOGE ETF application fuel recovery odds?\u00a0<\/span><\/em><\/li>\n<\/ul>\n
The original memecoin, <\/span>Dogecoin [DOGE],<\/span><\/a> continues to attract whale and institutional interest. Especially amid significant Spot ETF speculation in the United States.\u00a0<\/span><\/p>\n
In fact, despite its 23% slump from January\u2019s highs of $0.43, whale entities have scooped 560 million DOGE tokens. This revealed that large players took advantage of the latest price discount to add positions. According to analyst Ali Martinez\u2019s <\/span>\u00a0analysis<\/span><\/a>,\u00a0<\/span><\/p>\n
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\u201cWhales have accumulated 560 million #Dogecoin $DOGE in the past week following an intense sell-off, signaling renewed interest from large holders!\u201d<\/span><\/p>\n<\/blockquote>\n
![\"DOGE](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/DOGE-scaled.jpeg\")
<\/a><\/p>\nSource: X<\/p>\n<\/div>\n
Grayscale eyes DOGE ETF<\/h2>\n
On the ETF front, Grayscale joined Bitwise with a potential conversion of its latest Dogecoin Trust into an ETF application. Commenting on the Dogecoin Trust move, Grayscale\u2019s Head of Product and Research Rayhaneh Sharif-Askar said,\u00a0<\/span><\/p>\n
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\u201cDogecoin has matured into a potentially powerful tool for promoting financial accessibility. We believe, as a faster, cheaper, and more scalable derivative of Bitcoin, Dogecoin is helping groups underserved by legacy financial infrastructure to participate in the financial system.\u201d<\/span><\/p>\n<\/blockquote>\n
However, top ETF experts like Nate Geraci and Bloomberg\u2019s James Seyffart, noted the firm\u2019s plan to convert the Trust into a spot ETF.\u00a0<\/span><\/p>\n
![\"DOGE\"](\"image\/svg+xml,%3Csvg%20xmlns=\")
![\"DOGE\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-01-110832.png\")
<\/a><\/p>\nSource: X<\/span><\/a><\/p>\n<\/div>\n
The aforementioned update saw Polymarket\u2019s <\/span>odds<\/span><\/a> of a U.S DOGE ETF by 2025 jump to a record high of 58%, before briefly retreating at press time.\u00a0<\/span><\/p>\n
Here, it\u2019s worth noting, however, that the positive update didn\u2019t stir DOGE\u2019s movement on the price charts. In fact, since December, the memecoin has been consolidating between $0.30 and $0.40.\u00a0<\/span><\/p>\n
A break below the demand area of $0.3 cannot be overruled amid weak technicals and sentiment in the broader market ahead of the U.S jobs report. However, a positive update on the macroeconomic front can <\/span>fuel it to $0.4<\/span><\/a> or higher.\u00a0<\/span><\/p>\n
- Will Grayscale\u2019s DOGE ETF application fuel recovery odds?\u00a0<\/span><\/em><\/li>\n<\/ul>\n
![\"DOGE\"](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/02\/DOGEUSDT_2025-02-01_10-43-22.png\")