Dogecoin continues to prove it is far more than just a meme. According to CoinGecko, DOGE’s market capitalization has now grown to more than 8x the size of the entire NFT market, highlighting just how dominant the original memecoin remains in the crypto space.
At the time of writing, Dogecoin is trading at around $0.106, down roughly 4% over the past 24 hours as the broader crypto market experiences volatility. Despite the short-term pullback, DOGE still holds a market cap near $26 billion, massively overshadowing the struggling NFT sector.
Fresh on-chain data from Santiment shows massive whale activity behind Dogecoin’s recent momentum. The analytics firm revealed that DOGE whales recorded 739 transactions worth over $100,000 within a single day, the highest whale activity level in six months.
Santiment also noted that the 149 largest wallets holding at least 100 million DOGE now collectively control an all-time high of 108.52 billion DOGE, worth around $11.6 billion. According to the platform, this aggressive accumulation likely played a key role in DOGE’s recent 14% rally over the last 10 days.
On-chain analyst Ali Martinez recently pointed out that Dogecoin successfully hit its $0.117 target after breaking through a major channel resistance. Following the move, he confirmed profits had been booked, signaling that traders may now be entering a cooling phase after the breakout.
The latest correction appears tied to broader market weakness and heavy leverage flushes across crypto. Data shows more than $13 million in DOGE liquidations recently hit the market as crowded long positions got wiped out.
At the same time, Dogecoin futures open interest has climbed to nearly 15.3 billion DOGE, marking a yearly high and showing that traders are still heavily positioned around the memecoin.
Meanwhile, optimism around spot Dogecoin ETFs continues to build. The three DOGE ETF products currently manage roughly $14.3 million in assets and recently posted their first two-day inflow streak since January, signaling that institutional interest in Dogecoin may still be growing despite market turbulence.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Bitcoin is holding near $66,000 and technical signals suggest the broader market may be entering…
Robinhood Chain isn't wasting time trying to prove its relevance. Just three weeks after launch,…
New AI Hub connects Claude, Cursor, Codex and other AI assistants directly to spot, collateral…
Bipartisan talks on the CLARITY Act's ethics provisions resumed on Capitol Hill on Tuesday, with…
BNB and Cardano remain two of the most watched utility-driven assets in crypto, but traders…
The AAVE price is back on traders' radar after climbing nearly 8% from $88 to…
