DOGE -0.1% as Grayscale’s ETF Looms and Social Security Scandal Intensifies

Bloomberg – On Nov. 19, 2025, Dogecoin (DOGE) edged down 0.1% to trade at $0.15464, marking a 1.84% decline over the past week and a 17% drop over the last month. Despite a pending structural change in the form of a new ETF, the meme coin remains under pressure as concerns about its underlying fundamentals persist.

Grayscale Files for Dogecoin ETF, Triggering 20-Day Countdown

Grayscale, a major player in the digital asset space, submitted an amended filing with regulators for a Dogecoin ETF, signaling its intent to launch the product on November 24, 2025. The filing initiates a 20-day waiting period, during which the U.S. Securities and Exchange Commission (SEC) can choose to object. If no objection is made, the ETF is expected to begin trading as scheduled. This move is seen as a critical test for the broader acceptance of meme-based cryptocurrencies in institutional markets.

Analysts emphasize that the ETF could bring much-needed liquidity and investor confidence to DOGE, but the coin’s recent price action suggests that market sentiment remains fragile. Currently, DOGE is trading below a key support level near $0.16, with the $0.159–0.16 range identified as crucial for triggering a potential recovery trend.

Social Security’s 'DOGE' Scandal Fuels Political and Institutional Debate

Meanwhile, the Department of Government Efficiency (DOGE)—a high-profile initiative launched to streamline federal operations—has come under intense scrutiny following a whistleblower complaint. Jonathan Borges, the former chief data officer at the Social Security Administration (SSA), raised concerns that a live copy of the SSA’s entire database, containing sensitive personal information of every U.S. citizen with a Social Security number, had been uploaded to an unsecured cloud environment.

The alleged breach, if confirmed, would represent a massive vulnerability in the data infrastructure of one of the country’s most critical public services. Borges’ whistleblowing has led to a broader debate about the risks of rapid, untested reforms in government operations, particularly those driven by outside actors.

DOGE, which was co-led by Elon Musk and other private-sector figures, has already been linked to major workforce reductions at the SSA—7,000 jobs eliminated since its inception—alongside procedural changes that have increased in-person visits to agency offices. Borges, who is now running for Maryland State Senate, has criticized the approach as overly aggressive and lacking in long-term sustainability.

Musk’s Return to the White House and Political Realignment

Elon Musk, who led DOGE for the Trump administration, recently returned to the White House as tensions with the former president have cooled. His appearance at a state dinner for Saudi Crown Prince Mohammed bin Salman marked a symbolic reconciliation after a public feud over policy disagreements, including Musk’s opposition to Trump’s large-scale tax and spending bill.

Musk has since tempered his criticisms and appears to have recalibrated his public stance on key Trump-era policies. His reintegration into Washington circles, alongside high-profile figures like Nvidia’s Jensen Huang, suggests a shift in political strategy and a potential redefinition of his role in shaping U.S. tech and economic policy.

Price Outlook: DOGE Remains Vulnerable Amid Broader Market Weakness

Despite the pending launch of the Grayscale Dogecoin ETF, DOGE’s technical outlook remains bearish. The coin has failed to maintain gains above the $0.1500 support level, and any further weakness could push it toward $0.14, with the October 10 low at $0.10 looming as a critical threshold.

Analysts caution that the broader cryptocurrency market remains in a consolidation phase, with Bitcoin struggling above $90,000 and other altcoins showing signs of exhaustion. Institutional outflows continue to weigh on investor sentiment, and the absence of meaningful macroeconomic catalysts has kept the market in a risk-off mood.

While some analysts, including Morgan Creek’s Mark Yusko, expect a milder correction compared to previous bear cycles, most agree that DOGE’s near-term trajectory will depend heavily on the success of the Grayscale ETF and whether the coin can stabilize above its critical support levels.

In the absence of significant bullish developments, DOGE is expected to remain in a defensive posture, with the market closely watching both the ETF’s approval and the resolution of the ongoing Social Security data controversy.