Dogecoin Sells Off as Whales Dump 150M and ETFs See Minimal Inflows
Dogecoin (DOGE) faces renewed weakness as large holders sold roughly 150 million DOGE in the past five days, coinciding with a price decline to about $0.12 (down 7% weekly, 20% monthly). Two new DOGE-tracking ETFs (Grayscale’s GDOG and Bitwise’s BWOW) launched a month ago but have recorded only about $2 million net inflows since inception and no activity since December 10, according to SoSoValue. By contrast, XRP funds attracted roughly $1.1 billion in the same period. The report highlights fading retail hype for meme coins absent high-profile promotion (e.g., Elon Musk) and suggests current investor interest in DOGE is low despite ETF listings. Key data points: ~150 million DOGE sold by whales, DOGE price ~ $0.12, -7% weekly, -20% monthly, GDOG/BWOW net inflows ≈ $2M, XRP funds ≈ $1.1B. Primary keyword: Dogecoin; secondary keywords: DOGE, whales selling, DOGE ETF, meme coin sentiment.
Bearish
The news is bearish for DOGE and short-term market sentiment. Large-scale whale selling (≈150 million DOGE) increases supply pressure and signals profit-taking or loss-cutting by significant holders, which commonly accelerates downward moves as retail reacts. Poor ETF performance (only ≈$2M net inflows and no activity since Dec 10) indicates weak institutional and retail demand for DOGE despite product listings — ETFs have failed to provide meaningful buy-side support compared with other assets (e.g., XRP funds with ≈$1.1B inflows). Historically, meme coins rely heavily on retail momentum and social catalysts; absence of such drivers typically leads to prolonged consolidation or declines until a new narrative emerges. Short-term impact: elevated volatility and likely continued selling pressure unless whales halt disposals or a catalyst re-ignites buying. Long-term impact: neutral-to-negative unless sustained demand returns via major endorsements, broader utility developments, or significant ETF uptake. Traders should watch whale on-chain flows, ETF inflows/outflows, order-book liquidity, and social signals; risk management (reduced position size, stop losses) is advised given potential for further downside and volatility.