Dogecoin News Today: ETFs and Whales Collide: Will Dogecoin Break Out or Break Down?

The potential for Dogecoin (DOGE) to see a new wave of investor interest has intensified with the anticipated launch of the first Dogecoin exchange-traded fund (ETF) in the United States. According to Bloomberg analyst Eric Balchunas, the ETF could launch as early as next week, with REX Shares filing a prospectus under the 40 Act, the same regulatory strategy it employed for its Solana staking ETF. This approach allows REX Shares to bypass the traditional ETF filing process, which involves submitting Form S-1 and Form 19b-4 with the Securities and Exchange Commission (SEC).

The prospectus highlights the risks associated with DOGE, describing it as a "relatively new innovation" and subject to "rapid price swings." Over the past year, Dogecoin has surged 116.67% according to CoinMarketCap, but it is currently trading at $0.2129—down 54% from its 2024 high of $0.4672. REX Shares has also filed for an ETF that tracks the token of a public figure, OFFICIAL TRUMP (TRUMP), indicating a growing trend of leveraging celebrity and pop culture in crypto product development.

Traders and analysts are closely monitoring DOGE’s price action around the $0.22 resistance level. Current trading activity shows DOGE near $0.210, with the 200-day exponential moving average acting as a key pivot point. A decisive daily close above $0.225 could trigger a rally toward $0.25 and potentially $0.30. On the other hand, a failure to break through resistance or a pullback below the 200-day EMA could push the price down to $0.205 or lower. Derivatives metrics such as open interest and funding rates are also showing mixed signals, with futures open interest sitting at around $3.35 billion and fluctuating between positive and negative funding rates depending on the exchange.

On-chain data reveals steady activity, with approximately 135,000 transactions per day and an average fee of $0.087. Whale activity has also been significant, including a $200 million transfer to Binance in late August, which has contributed to market pressure. Analysts are advising traders to watch for changes in whale flows and active address trends to confirm the next directional move. The interplay between on-chain activity, whale behavior, and derivative markets is shaping expectations for DOGE’s next potential move.

In parallel, the crypto market is seeing emerging competition in the meme coin space, particularly with the rise of Ethereum Layer 2 projects like Layer Brett ($LBRETT). Analysts have drawn comparisons between DOGE and $LBRETT, noting that the latter combines meme culture with scalable blockchain infrastructure and high staking rewards. While Dogecoin’s future depends on broader market inflows and regulatory developments, $LBRETT is positioned to offer a more utility-driven and community-incentivized model. The presale of $LBRETT is currently open, with early buyers receiving staking rewards of up to 1,020% APY. Analysts suggest that this project could outpace DOGE in terms of returns due to its innovative structure and early traction.

The broader Ethereum Layer 2 ecosystem is also evolving rapidly, with projects like Linea unveiling large token allocations for ecosystem growth. Linea, a Consensys-led initiative, has announced the release of 72 billion LINEA tokens on September 10, with 85% of the supply dedicated to ecosystem development. This includes airdrops, liquidity incentives, and a dual-burn mechanism designed to reinforce Ethereum’s base layer. As Ethereum’s scaling solutions continue to mature, the competition among Layer 2 platforms is intensifying, with Linea, Starknet, and others vying for dominance in the DeFi space.

Source: [1] Dogecoin may see first-ever ETF launch next week: Analyst (https://cointelegraph.com/news/dogecoin-etf-united-states-launch-next-week-analyst) [2] Dogecoin Price Watch: Is DOGE Set to Rally Toward $0.30? (https://investinghaven.com/crypto-blockchain/coins/dogecoin-price-watch-is-doge-set-to-rally-toward-030or-stall-near-022/) [3] PEPE Price Prediction: As Layer Brett Goes Mega Viral ... (https://www.mitrade.com/insights/news/live-news/article-3-1097074-20250905) [4] Dogecoin Price Prediction: Analysts Claim Ethereum's ... (https://www.cryptopolitan.com/analysts-claim-ethereums-layer-brett-could-deliver-5500-gains-this-month/) [5] Layer Brett Price USD, LBRETT Price Live Charts, Market ... (https://www.bitget.com/price/layer-brett) [6] Ethereum L2 Starknet suffers 2nd mainnet outage in 2 ... (https://cointelegraph.com/news/starknet-outage-ethereum-l2-reliability-concerns) [7] Ethereum L2 Linea Unveils 72B Tokens for DeFi Growth (https://thecurrencyanalytics.com/altcoins/consensys-ethereum-l2-linea-prepares-for-72-billion-token-release-194808)