Dogecoin (DOGE) Continues to Attract Whale and Institutional Interest, Eyes ETF

The original memecoin, Dogecoin [DOGE], continues to attract whale and institutional interest. Especially amid significant Spot ETF speculation in the

Dogecoin [DOGE] continued to attract attention from whales and institutions, especially amidst الكبير Spot ETF speculation in the United States.

In fact, despite a 23% slump from January’s highs of $0.43, whale entities scooped up 560 million DOGE tokens. This showed that large players took advantage of the latest price discount to add positions.

According to analyst Ali Martinez’s analysis,

“Whales have accumulated 560 million #Dogecoin $DOGE in the past week following an intense sell-off, signaling renewed interest from large holders!”

Grayscale eyed a DOGE ETF

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’s Head of Product and Research Rayhaneh Sharif-Askar said,

“Dogecoin 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.”

However, top ETF experts like Nate Geraci and Bloomberg’s James Seyffart noted the firm’s plan to convert the Trust into a spot ETF.

The aforementioned update saw Polymarket’s odds of a U.S DOGE ETF by 2025 jump to a record high of 58%, before briefly retreating at press time.

Here, it’s important to note, however, that the positive update didn’t stir DOGE’s movement on the price charts. In fact, since December, the memecoin has been consolidating between $0.30 and $0.40.

A break below the demand area of $0.3 can’t be ruled out, especially amid weak technicals and sentiment in the broader market ahead of the U.S jobs report. But, a positive update on the macroeconomic front can fuel it to $0.4 or higher.