Key Takeaways

A Bloomberg expert reveals that REX Shares may launch a Dogecoin ETF next week. Amid this speculation, experts eye $0.30, $1, and even $5 for DOGE. 

With an impressive recovery, Dogecoin [DOGE] continues to follow its bullish trajectory. However, whale activity over the past 48 hours raises concerns about whether this bullish outlook will remain intact.

Whales offload 200 million DOGE

A prominent crypto expert shared on-chain data showing that Dogecoin whales holding 10 million to 100 million DOGE have sold off 200 million coins over the past 48 hours.

This substantial sell-off amid market uncertainty appears to be a red flag and could hurt sentiment if it continues.

Currently, DOGE’s price is recovering, gaining 0.82% to trade at the $0.216 level. However, participation from traders and investors remains low, causing DOGE’s 24-hour trading volume to plummet by 15%.

DOGE ETF speculation sparks price predictions 

Despite low participation, several bold predictions have recently surfaced on X (formerly Twitter).

Some suggest that DOGE could reach $0.30 if the price clears the $0.21 and $0.22 levels, while others seem to be making unrealistic predictions, eyeing $1 and $5 in the coming days.

In the cryptocurrency landscape, anything is achievable, all it needs is a strong catalyst and market momentum, which are already slowly appearing.

Recently, Bloomberg ETF expert Eric Balchunas tweeted that REX Shares may launch a Dogecoin ETF under the 40 Act next week.

He added that Dog

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Author: Vivaan Acharya