Key notes
- Chain data show a 94% drop in the number of DOGE transactions since March, signaling has reduced investors’ interest.
- In addition, Doge Whales recently sold 1.32 billion tokens, reflecting a decrease in market confidence.
- Asset Manager 21Shares filed an FNB of Dogecoin with the SEC, aimed at following Doge’s performance without leverage or derivatives.
In the middle of the wider recovery of the cryptography market, Dogecoin
DOGE
$ 0.16
24h volatility:
7.9%
COURTIC CAPESSION:
$ 23.17 B
Flight. 24 hours:
$ 1.89 B
The price experienced a clear increase, winning 6.9% in the last 24 hours and of $ 0.16. This occurs while US President Donald Trump has announced a 90-day delay in implementing prices, as well as 21Shares submitting his file for a Dogecoin ETF at Securities and Exchange Commission (SEC) of the United States.
Will the overvoltage of Dogecoin prices (DOGE) continue?
Although the price of DOGE has increased by almost 7% with a broader recovery of the market, the Bulls failed to exceed the crucial resistance of $ 0.16. The same part has been down more than 54% since the start of the year.
In addition, data on the Santiment chain show that the number of DOGE transactions has dropped considerably from the peak of 374,700 recorded in mid-March at 20,793. This is a massive drop of 94% in just one month, thus showing the interest of investors in the asset is considerably decreased.
Number of transactions / Source Doge: Santiment
A key force of Dogecoin lies in its solid community support. However, a sharp decline in the number of transactions indicates potential weakness and a decrease in confidence in a short -term price resumption.
In addition, the Crypto Ali Martinez analyst noted that the Doge whales have sold large numbers recently. According to the latest report, these whale entities recently discharged 1.32 billion Doge.
Whales sold more than 1.32 billion #Dogecoin $ DOGE in the last 48 hours, as shown by the data of @Santimentfeed! pic.twitter.com/k3n6sd03kl
– Ali (@ali_charts) April 9, 2025
Will the FNB of Dogecoin see the approval of soon?
On Wednesday, April 9, the 21Shares asset manager submitted the recording of the S-1 to the American Sec to bring the FNB Spot Dogecoin to the market.
The fund aims to follow Dogecoin’s performance using the United States regulation price index CF DOGE-DOLLAR as a reference, with the Coinbase Guard proposed as a goalkeeper.
Designed as a passive investment vehicle, the FNB will not use the lever or derivative effect. Instead, it will hold the actual Dogecoin and calculate its daily reference value (NAV) as a function of the reference index.
With the recent file, 21Shares again rekindled discussions for an ETF DOGE, however, the chances of imminent approval look dark. Interestingly, the deposit comes just the day Paul Atkins was appointed permanent president of the dry in the United States.
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Bhushan is a fintech enthusiast and has a good flair in understanding the financial markets. Its interest in the economy and finance draws its attention to the new technology of emerging blockchain and the markets of cryptocurrencies. He is permanently in a learning process and motivates himself to share his acquired knowledge. In free time, he reads fiction novels to thriller and sometimes explores his culinary skills.
