TLDR
- Grayscale launched the first spot Dogecoin ETF on the NYSE, with trading volumes hitting $1.5 billion in 24 hours
- Dogecoin price jumped 2.2% following the ETF launch, with Bitwise preparing to launch another DOGE ETF this week
- The token bounced off key support at $0.14 and could break out to $0.20 if it crosses the $0.18 resistance level
- Dogecoin has unlimited supply with 5 billion new coins added annually, making sustained price appreciation difficult
- The cryptocurrency’s price movements are driven more by social media hype and retail investor sentiment than fundamental value
Dogecoin experienced a 2.2% price increase after Grayscale launched the first spot Dogecoin ETF on the New York Stock Exchange. The development marks a new chapter for the meme coin, which was created in 2013 by software engineers Billy Markus and Jackson Palmer as a satirical response to early crypto adoption.
Trading volumes reached $1.5 billion in the past 24 hours following the ETF launch. These volumes represent nearly 7% of the token’s circulating market cap. Grayscale secured first-mover advantage in the spot DOGE ETF space, beating other competitors to market.
Bitwise is preparing to launch its own Dogecoin ETF this week. The timing coincides with the end of the U.S. government shutdown, which had delayed approval of several altcoin-linked investment vehicles.
The first spot Dogecoin ETF* in US launches today from Grayscale, ticker $GDOG (sounds like a late '80s one hit wonder rapper). Fee is 35bps but is waived to 0.00% for first 1b or until 3mo. Day One volume predictions welcome. I'm going with $12m. *33 Act pic.twitter.com/QbdLLxejhr
— Eric Balchunas (@EricBalchunas) November 24, 2025
Dogecoin currently holds a market cap of $22 billion, making it the ninth-largest cryptocurrency in the world. The token ranks ahead of established cryptocurrencies like Cardano, Stellar, Litecoin, and Avalanche.
Technical Analysis Shows Potential Breakout
The daily chart indicates that DOGE has bounced off a key support level around $0.14. The token is now moving toward the upper bound of a falling wedge pattern.
$Doge/4-hour#Dogecoin is striving to establish an uptrend, marked by higher highs and higher lows in the LTF market structure. This follows an ascending triangle bottom and a successful trendline breakout with a retest. pic.twitter.com/tbj9O6gYeA
— Trader Tardigrade (@TATrader_Alan) November 26, 2025
The Relative Strength Index crossed above its 14-day moving average, suggesting positive momentum may be building. The $0.18 price level appears critical for determining the next move.
Supply Dynamics Present Long-Term Challenges
Dogecoin has an unlimited supply structure with 5 billion new coins added to circulation each year. This inflation mechanism makes sustained price appreciation difficult over the long term.
The cryptocurrency’s price movements are driven primarily by investor sentiment rather than fundamental factors. Social media trends and online forum discussions create sharp price swings that are difficult to predict.
Dogecoin can be used for peer-to-peer payments and is accepted at some retail locations. However, its real-world adoption remains limited compared to mainstream cryptocurrencies like Bitcoin and XRP.
If DOGE breaks above the $0.18 resistance level, it could reach $0.20 in the near term, representing a 33% upside from current levels. Continued momentum could push the token toward $0.28 by year-end. The launch of multiple spot ETFs provides traditional investors with easier access to DOGE exposure through regulated investment vehicles.
