Dogecoin Wallet Stirs Amid ETF Buzz
In an unexpected move, a long-inactive Dogecoin (DOGE) wallet has suddenly become active after nearly two years of dormancy. This activity has sparked interest and speculation within the cryptocurrency community, particularly about the potential launch of a Dogecoin-focused spot exchange-traded fund (ETF).
Significant Dogecoin Transfer
Recent on-chain data reveals that this dormant wallet has transferred over 10.3 million DOGE, valued at approximately $2.25 million. Such a substantial transfer, after being idle for such a long time, has been highlighted by Arkham and reported by Finbold on September 7.
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Dogecoin ETF Anticipation
The transfer, executed through the cryptocurrency exchange Binance, has intensified discussions about prominent investors, commonly referred to as “whales,” potentially aligning their strategies in anticipation of the inaugural Dogecoin ETF.
Of particular interest is the REX-Osprey Dogecoin ETF, which will trade under the ticker DOJE. This ETF has already secured an effective date of September 9, 2025. Unlike traditional spot ETFs, this fund, structured under the Investment Company Act of 1940, avoids the complex approval process. Instead, it aims to gain exposure to DOGE through derivatives like swaps and futures, while also holding some cash and other assets for diversification.
Simultaneously, the Securities Exchange Commission (SEC) is contemplating new listing standards that could simplify the approval process for single-asset crypto ETFs. Should these standards be enacted later this month, they could pave the way for more investment products linked to digital currencies such as Solana and XRP.
Dogecoin Price Analysis
As of the latest market update, Dogecoin is trading at $0.22. This marks a 2.5% increase over the last 24 hours and a 3.5% rise over the past week.
Technical Outlook for Dogecoin
Analyzing the technical indicators, Dogecoin’s short-term prospects reveal mixed signals with a slight bullish bias. The 50-day simple moving average (SMA) is at $0.224, presenting a potential resistance point that must be surpassed to confirm further upward momentum.
In contrast, the 200-day SMA is positioned at $0.198, providing a broad trend support level that suggests continued bullish potential. Meanwhile, the 14-day Relative Strength Index (RSI) stands at 47.82, indicating neutral market conditions. This neutrality implies that DOGE has the flexibility to move in either direction without facing immediate overbought or oversold pressures.
The shifting landscape of the Dogecoin market, accentuated by this unexpected wallet activity and the potential for an ETF, highlights the dynamic nature of the cryptocurrency world. Investors and enthusiasts alike will be keenly watching how these developments unfold in the near future.
