Santiment just shared interesting on-chain data about Dogecoin as talk of a new DOGE ETF grows louder. The Rex-Osprey Dogecoin ETF ($DOJE) could launch as early as this week, giving U.S. investors a way to gain exposure to DOGE price without holding the coin itself.
This would be the first Dogecoin ETF in the United States. The firms behind it, REX Shares and Osprey Funds, have already worked together on a Solana ETF. They are using a fast-track approval process, which could help $DOJE reach the market soon.
What you'll learn 👉
Retail FOMO and Whale Activity
On August 15th, DOGE saw heavy retail interest as ETF rumors spread. Many rushed in to buy, but the price dropped soon after in a classic “buy the rumor, sell the news” move. Santiment’s data shows that whales took profits right into this spike.
By early September, social chatter picked up again on the 4th and 8th, but the price reaction was weaker. Whales again became active, with the largest spike in million-dollar transactions in nearly four weeks hitting right as DOGE topped out.
Still, wallets holding between 1M and 10M DOGE have quietly been accumulating. They now control 10.91 billion coins, which is 7.23% of supply. That’s the highest level since late 2021, showing steady confidence behind the scenes.
The chance of a Dogecoin ETF being approved is now estimated at 93%. This sharp rise in probability has been enough to bring traders back after the August sell-off. It explains why we’ve seen a second wave of FOMO in early September, though the price reaction has been smaller this time compared to the initial hype.
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DOGE Chart Analysis
On the 4H chart, Dogecoin is trading around $0.236. The big move up toward $0.287 in mid-July was followed by a long correction into August, with support forming near $0.21. Since then, DOGE has been slowly grinding higher.
The RSI is currently near 68, suggesting the market is leaning toward overbought, but not yet at extreme levels. Open interest delta is negative, which hints that futures traders are cautious and some positions have been closed. Net longs remain steady, while net shorts have stayed flat.
DOGE Price Prediction
If momentum continues, the next big resistance sits around $0.25 to $0.26. A clean break above $0.26 could open the door to a retest of $0.28, where DOGE topped out in July.
On the downside, strong support is still at $0.21. If ETF excitement fades before an official launch, DOGE could revisit this zone.
For now, price is holding a higher low structure and whale accumulation indicates that dips are being bought. The short-term outlook looks cautiously bullish, but traders should watch both the ETF approval news and whale activity closely.
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