Will DOGE Price Surge Continue After 21Shares Files for Dogecoin ETF?
The post Will DOGE Price Surge Continue After 21Shares Files for Dogecoin ETF? appeared on BitcoinEthereumNews.com.
Key Notes On-chain data shows a 94% drop in DOGE transaction counts since March, signaling reduced investor interest. Additionally, DOGE whales have sold 1.32 billion tokens recently, reflecting diminished market confidence. Asset manager 21Shares filed for a Dogecoin ETF with the SEC, aiming to track DOGE’s performance without leverage or derivatives. Amid the broader crypto market recovery, the Dogecoin DOGE $0.16 24h volatility: 6.6% Market cap: $23.29 B Vol. 24h: $2.09 B price saw a sharp upside, gaining 6.9% in the last 24 hours and moving to $0.16 levels. This comes as US President Donald Trump announced a 90-day delay in tariff implementation, along with 21Shares submitting its filing for a Dogecoin ETF to the US Securities and Exchange Commission (SEC). Will Dogecoin (DOGE) Price Surge Continue? Although the DOGE price is up nearly 7% with a broader market recovery, the bulls haven’t managed to cross past the crucial resistance of $0.16. The meme coin is down by more than 54% since the beginning of the year. Furthermore, on-chain data from Santiment shows that the DOGE transaction count has dropped significantly from the peak of 374,700 recorded in mid-March, to 20,793. This is a massive 94% drop in just one month, thereby showing that the investor interest in the asset is waning significantly. DOGE Transaction Count / Source: Santiment A key strength of Dogecoin lies in its robust community support. However, a sharp decline in transaction counts indicates potential weakness and diminished confidence in a near-term price recovery. Furthermore, crypto analyst Ali Martinez noted that DOGE whales have sold in big numbers recently. As per the latest report, these whale entities have offloaded 1.32 billion of DOGE recently. Whales sold over 1.32 billion #Dogecoin $DOGE in the last 48 hours, as shown by data from @santimentfeed! pic.twitter.com/K3n6sD03Kl — Ali (@ali_charts)…
