Dogecoin Whales Accumulate $480M as ETF Launch Boosts Market Confidence

Dogecoin is once again drawing the spotlight after a surge in whale accumulation coincided with the successful debut of a dedicated Dogecoin exchange-traded fund (ETF).

The dual development has fueled speculation that the popular meme coin could be on the verge of another significant breakout.

Whales Add Over Two Billion DOGE

On-chain data highlighted by market analyst Ali shows that wallets holding between 100 million and 1 billion DOGE tokens collectively added more than 2 billion coins in the past 48 hours.

The massive inflow, worth around $480 million, comes at a time when Dogecoin has been consolidating between $0.23 and $0.24 following its retreat from mid-September highs above $0.30.

This accumulation aligns with the lower boundary of a rising channel that has defined Dogecoin’s summer trading pattern.

The same level has repeatedly served as a reliable support zone, with whales now reinforcing it through heavy buying. Analysts suggest this behavior signals confidence that DOGE is preparing for a rebound.

Dogecoin ETF Off to a Strong Start

At the same time, investor attention has shifted to the newly launched REX-Osprey Dogecoin ETF, which has posted strong inflows since debuting on the CBOE. Within just four trading days, the fund attracted nearly $8 million in capital, an impressive start for a product focused on a meme-based cryptocurrency.

On Monday, while the broader market experienced declines, the Dogecoin ETF logged $4.3 million in inflows, followed by another $600,000 on Tuesday.

The trend underscores a growing appetite among both institutional and retail investors to gain regulated exposure to DOGE without directly holding the asset.

Market analysts argue that the ETF not only provides legitimacy to Dogecoin but also acts as a stabilizing force by broadening access through traditional brokerage accounts.