Altcoins News
By Steven Anderson
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The $14 Million Whale Buy. On July 19, an unidentified wallet scooped up 200 million DOGE through Robinhood.
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ETF Inflows Have Basically Dried Up. The institutional picture is murkier. U.S. spot Dogecoin ETFs were pulling in around $2.
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What the Charts Say. The weekly chart is kind of brutal. DOGE has fully retraced to its November 2023 levels, wiping…
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Dogecoin is sitting at roughly $0.073. That's its lowest price since November 2023, and the chart isn't pretty.
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The coin has shed about 90% from its 2021 all-time high and has been grinding lower for 19 months straight. A downtrend that long tends to wear out even the most committed holders.
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On July 19, an unidentified wallet scooped up 200 million DOGE through Robinhood. At current prices, that's roughly $14 million in one shot.
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The timing lined up with a 114% spike in futures volume, which jumped to around $740 million. Open interest crossed $1.1 billion.
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It was a reply featuring the Swole Doge meme — the kind of thing that would barely register for most accounts, but Musk isn't most accounts.
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The institutional picture is murkier. U.S. spot Dogecoin ETFs were pulling in around $2.5 million a day back in January. That's gone.
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Combined ETF assets sit at just $20 million. That's not nothing, but it's not the kind of number that screams conviction either.
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More context: Bitcoin ETFs See Six-Day Streak of Positive Inflows, Collecting $930 Million
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Meme coins broadly have taken a beating on platforms like Binance since Bitcoin peaked last October.
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The weekly chart is kind of brutal. DOGE has fully retraced to its November 2023 levels, wiping out everything gained during the December 2024 run to $0.485.
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The daily chart is a bit more encouraging, or at least less alarming. DOGE has been trading in a tight band between $0.070 and $0.075 since late June.
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Resistance starts at $0.082. After that, $0.089 to $0.09. Then the psychological round number at $0.10 — always a wall in retail-driven coins. A push to $0.
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