Whales have quietly accumulated 158 million DOGE while institutions like Thumzup ramp up exposure and the first Dogecoin ETF hits US markets.
According to on-chain data, whales accumulated more than 158 million DOGE DOGE $0.17 24h volatility: 9.6% Market cap: $25.14 B Vol. 24h: $3.43 B in recent days, even as the token’s price dipped 1% and trading volumes slid 25% in the past 24 hours.
Whales bought over 158 million Dogecoin $DOGE! pic.twitter.com/9mURge5gMF
— Ali (@ali_charts) September 19, 2025
Among those increasing exposure to Dogecoin, Thumzup Media Corporation confirmed its first open-market Dogecoin acquisition worth nearly $2 million, buying around 7.5 million DOGE at an average price of $0.2665.
Thumzup Goes All in on DOGE
Thumzup is also preparing to expand into Dogecoin mining with its proposed acquisition of DogeHash, which operates 2,500 active rigs and has 1,000 more on the way.
The company raised $50 million earlier this year to fund DOGE accumulation and hardware investments, making DOGE one of the best meme coins to buy in 2025.
The First DOGE ETF Launches
Thursday saw the debut of the REX-Osprey Dogecoin ETF (DOJE) on US exchanges alongside the first-ever investment product focused on the XRP token. Together, the two reached a total volume of $55 million with DOJE accounting for $17 million.
Sponsored by REX Shares and Osprey Funds, the ETF gained approval under the Investment Company Act of 1940, avoiding the lengthy approval process that delayed competitors like Grayscale and Bitwise.
DOGE Price Analysis: 2x Rally?
At press time, DOGE trades at $0.275, sitting near the middle of an ascending wedge pattern on the daily chart. The RSI stands at 62, reflecting healthy momentum without being overbought. Accumulation/distribution data shows a steady uptick as well.
DOGE inside rising wedge pattern on daily chart | Source: TradingView
If DOGE breaks above the critical $0.29 resistance, analysts like Ali Martinez believe it could accelerate toward $0.36, with an extended target near $0.45. Such a move would represent nearly a 2x surge from current levels.
Breaking $0.29 will send Dogecoin $DOGE flying to $0.36 and even $0.45! pic.twitter.com/keByLp5wSC
— Ali (@ali_charts) September 19, 2025
However, failure to hold above support at $0.26 could drag DOGE back toward $0.23–$0.24, where buyers are likely to step in. A breakdown from this range could invalidate the bullish wedge and send the token lower.
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