News

According to BlockBeats, on-chain analyst @ali_charts has reported that in the past 48 hours, whales have collectively purchased more than 800 million DOGE. 

According to Foresight News, digital asset management firm 21Shares has announced the launch of the 21Shares Dogecoin ETP (DOGE) on the Swiss stock exchange SIX. 

According to Odaily, Elon Musk has dismissed reports claiming he is about to resign from his position at the U.S. Government Efficiency Department (DOGE) as 'fake news.'

According to Foresight News, data from Glassnode indicates that the open interest in DOGE futures is approximately $1 billion. This figure is significantly lower than the average level of around $3 billion observed in November and December 2024. Although the seven-day moving average of futures trading volume has increased from its lowest point, it remains close to the levels seen in October 2024.

Dogecoin (DOGE) has surged 18% in just three days, outperforming the top 30 cryptocurrencies and sparking renewed interest from traders and analysts alike. With DOGE currently trading at $0.1965, one key trend suggests the meme coin could be poised for a 55% rally—if the critical $0.20 support level holds.Onchain Metrics Point to a Breakout ZoneAccording to Glassnode data, 7% of the total DOGE supply is clustered at the $0.20 level. This URPD (Unrealized Price Distribution) metric helps identify areas of potential support or resistance based on where coins were last moved.“If $0.20 is breached, there’s little Dogecoin supply until $0.31,” said Glassnode, adding that the lack of resistance in this range significantly raises the chance for a sharp price surge.DOGE’s price action suggests that a breakout toward $0.31 could pave the way for a larger bullish structure to form on the high time frame (HTF) charts.  DOGE Breaks Key Trendline, Sentiment Turns BullishOn March 24, DOGE broke out of a three-month descending trendline, a move flagged by crypto analyst Trader Tardigrade as a bullish signal.“The token looks set for a relief rally over the next few days,” said Tardigrade.Adding to bullish sentiment, the House of Doge—the Dogecoin Foundation’s corporate wing—announced the launch of The Official Dogecoin Reserve, kicking off with a 10 million DOGE purchase aimed at building a more stable payments ecosystem.“With a strategic reserve, House of Doge is laying the foundation for a payments ecosystem that ensures liquidity, stability, and reliability,” the Foundation stated. They also pledged to provide full transparency once the reserve transaction is completed.Resistance and Sell Zones AheadBeyond the $0.31 target, DOGE faces potential resistance in the $0.32–$0.41 zone, where 3 to 6-month HODL waves sit. These levels coincide with investor entry points from January 2025, which could lead to profit-taking or breakeven selling pressure.If DOGE can maintain support at $0.20 and trading volume continues to rise, analysts believe a 55% rally toward $0.31 is within reach. The breakout of a long-standing downtrend and the new institutional initiative from the House of Doge are fueling optimism that the meme coin may be gearing up for a strong short-term rally, according to Cointelegraph.

House of Doge, a recently established corporate arm of the Dogecoin Foundation, is working to promote Dogecoin as a widely accepted, decentralized currency for everyday transactions. The organization has launched the Dogecoin Reserve, a move aimed at positioning Dogecoin as a potential global payment solution. As part of the initiative, the Reserve has purchased 10 million Dogecoin at its current market value.Through the establishment of the Dogecoin Reserve, House of Doge seeks to address a challenge that has previously hindered the adoption of digital currencies for everyday payments—transaction delays. The Reserve and the initial purchase of 10 million Dogecoin serve as a demonstration of Dogecoin’s potential for facilitating seamless transactions.The introduction of the Dogecoin Reserve represents a step in House of Doge's efforts to position Dogecoin as a fast and reliable payment option for businesses and consumers. "With innovative technology, merchants will be able to accept Dogecoin payments instantly at checkout, avoiding the usual wait times tied to blockchain transactions, yielding the same confidence in Dogecoin as with traditional payment methods," stated the Dogecoin Foundation in the press release.

According to PANews, data from Santiment reveals that Dogecoin's network activity has reached its lowest point since October 2024. The network is currently experiencing only 66 'whale' transactions per day, with active addresses falling below 60,000.

According to Odaily, data from analytics platform Santiment reveals a significant increase in active addresses within the DOGE ecosystem, with a recent surge of approximately 400%. The short-term peak reached over 390,000 addresses. However, this figure remains considerably lower than the peak of 1.64 million active addresses recorded on November 22, 2024.

According to Odaily, the U.S. Securities and Exchange Commission (SEC) has confirmed the receipt of an application for a Bitwise Dogecoin ETF. This development marks a significant step in the potential introduction of a Dogecoin-focused exchange-traded fund, which could impact the cryptocurrency market. The application is currently under review by the SEC.

According to Odaily, cryptocurrency analyst Ali Martinez shared on the X platform that investor sentiment towards the DOGE token is at its lowest point in over a year. This extreme fear may set the stage for a significant reversal, indicating that now could be an excellent buying opportunity for investors.

According to BlockBeats, on March 4, market sources revealed that the New York Stock Exchange (NYSE) has submitted a 19b-4 application for the Bitwise Dogecoin ETF. This move marks a significant step in the potential introduction of a Dogecoin-focused exchange-traded fund, which could provide investors with a new avenue for exposure to the popular cryptocurrency.

DOGE Drops Over 6% Amid Broader Memecoin Sell-OffDogecoin (DOGE) has fallen over 6% in the last 24 hours, trading at $0.226, as the memecoin market experiences a widespread sell-off. The downturn follows reports linking North Korea’s Lazarus Group to recent rug-pull scams, which have triggered investor concerns and dampened sentiment in speculative assets like DOGE.The decline is part of a broader correction in the memecoin sector, which has collectively lost $4.11 billion in market capitalization over the past day.Memecoins Under Pressure as Market Sentiment ShiftsDogecoin’s losses mirror those of other major memecoins, with leading tokens seeing sharp declines:Shiba Inu (SHIB): Down 5.6%, trading at $0.0000151Pepe (PEPE): Dropped 7.25%Bonk (BONK): Lost 7.55%, making it the worst performer among top memecoinsMemecoins often rely on hype and speculative momentum, but security concerns and scams have weakened investor confidence, reducing capital inflows into these assets.Declining Network Activity Signals Weak Demand for DOGEDogecoin’s on-chain activity also shows signs of waning engagement, contributing to its bearish outlook:Whale transactions (>$1 million) dropped to 66 in February, marking a four-month low.DOGE transaction volumes have declined, indicating less demand for transfers, payments, and trading.Lower activity weakens price support, making it harder for DOGE to regain upward momentum.Open Interest and Funding Rates Indicate Bearish SentimentMarket data from CoinGlass shows a significant drop in Dogecoin’s open interest (OI):OI fell to $2.21 billion on Feb. 24, down from $5.42 billion a month ago.DOGE’s funding rate remains positive at 0.0315%, but well below its December 2024 peak of 2.058%.The sharp drop in OI and funding rates suggests that traders are taking a cautious approach, with reduced demand for leveraged positions.Dogecoin Faces Key Technical Support – A 35% Drop Possible?DOGE is now testing critical support at the 50-week EMA ($0.2197), which aligns with the 0.618 Fibonacci retracement level. A break below this level could lead to:A drop toward $0.1459 (0.786 Fibonacci level)—a potential 35% decline from current prices.Further downside toward the 200-week EMA ($0.1358), a previous breakout zone.The Relative Strength Index (RSI) is at 46.16, signaling neutral momentum, but a drop below 40 could trigger more selling pressure.Can DOGE Regain Bullish Momentum?For Dogecoin to recover, it must reclaim $0.2670 as support (0.5 Fibonacci level). However, if bearish sentiment persists, DOGE may struggle to find buying demand in the near term, according to Cointelegraph.

According to Odaily, Solid Intel has revealed that Elon Musk plans to discuss with U.S. President Donald Trump the possibility of using government reserves to distribute a $5000 DOGE bonus to American citizens.

According to Odaily, Fox Business reporter Eleanor Terrett announced on X that the U.S. Securities and Exchange Commission (SEC) has confirmed receipt of a 19b-4 application submitted by Grayscale and the New York Stock Exchange (NYSE) to establish a DOGE ETF.

According to PANews, Grayscale has announced the launch of a new closed-end fund called the Dogecoin Trust, providing exposure to Dogecoin (DOGE). The asset management firm believes that DOGE has evolved beyond being just a meme coin and is now a tool for global inclusive finance. This is particularly significant in regions with underdeveloped banking infrastructure, where DOGE is seen as an optimal tool for international remittances due to its low transaction costs and fast transfer speeds. The introduction of this trust follows shortly after U.S. President Donald Trump took office, who had pledged to advance the cryptocurrency industry and named a newly established organization "D.O.G.E." DOGE's market capitalization is nearing $50 billion, making it the largest meme coin globally.

According to CoinDesk, crypto asset manager Bitwise has submitted documents to the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) linked to the price of dogecoin (DOGE). The filing, known as an S-1 document, is necessary for companies aiming to issue a new security and have it listed on a public stock exchange. This move comes after investment managers Rex Shares and Osprey Funds also filed paperwork for several crypto ETFs, including those tied to dogecoin and other memecoins earlier this month.Bitwise's filing stands out as it is submitted under the '33 Act, unlike Rex and Osprey's filings under the 40 Act. Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, highlighted this distinction. S-1 filings under the '33 Act are typically used for niche, commodity-based ETFs, whereas the 40 Act filings offer stronger investor protection by requiring issuers to adhere to additional SEC regulations. These regulations include limitations on leverage and short-selling, as well as stricter fiduciary oversight and governance.Bitwise is already the issuer of several crypto ETFs and has multiple applications pending, including one for an XRP (XRP) ETF. While the S-1 document is an initial step in launching an ETF, the more critical filing is the 19b-4. This filing is necessary to indicate a required rule change at the stock exchange intending to list the investment, binding the SEC to a strict deadline.The concept of memecoin ETFs was once considered nearly impossible under the SEC led by Gray Gensler, which posed challenges for issuers attempting to launch a spot bitcoin ETF. However, the potential for such funds now appears more feasible following the inauguration of U.S. President Donald Trump. President Trump has not only pledged to implement crypto-friendly policies but has also launched his own memecoins, TRUMP and MELANIA, demonstrating his personal interest in the memecoin sector.

According to PANews, Bitwise has filed documents with the Delaware Department of State to register the Bitwise Dogecoin ETF. The formation date is set for January 22, 2025, with CSC Delaware Trust Company serving as the registered agent. Bloomberg ETF analyst James Seyffart commented on the development, noting that this is merely a trust registration and not yet a formal ETF filing with the SEC, at least for now.

Dogecoin (DOGE) experienced a short-term price surge, breaking past 0.38 USDT following US President Donald Trump's inaugural speech, in which he announced plans to establish a Department of Government Efficiency (DOGE). 

According to PANews, recent market data reveals that Official Trump (TRUMP) has surpassed Dogecoin in fully diluted valuation (FDV).

According to Odaily, Elon Musk recently announced on the X platform that the government efficiency department (@DOGE) will collaborate with the U.S. government on SpaceX's Raptor engine. Following this announcement, the price of DOGE experienced a brief surge, reaching nearly $0.42.