Dogecoin (DOGE) breaks out over ETF talk, whales are accumulating

Dogecoin (DOGE) broke above $0.41 again, after renewed talks of an ETF coming by the end of the year. The market maker Wintermute called for an upcoming ETF based on a meme token, and made a bet on DOGE. 

Wintermute, one of the top meme token market makers, suggested a Dogecoin (DOGE) ETF may be in the making for 2025. The rise of meme tokens replaced the more established altcoins. As institutions moved in, Wintermute expected memes to be taken seriously enough to build an ETF around one of the top assets, as outlined in its 2025 outlook report. 

The potential for more DOGE exposure and mainstream investment boosted the coin after the latest market rally. DOGE broke out above $0.41, near the highest range for the past month. The memecoin renewed the expectations for a rally back to $1 as crypto adoption widens in 2025. 

For Wintermute, DOGE was the most probable answer, due to the coin’s legacy status and liquidity. DOGE is still lumped together with newer memes, and makes up more than 53% of the ecosystem. 

While ShibaInu (SHIB) is also influential, Wintermute believed DOGE would be the asset picked for a new fund. Wintermute has been bullish on memes, becoming the market maker for both prominent tokens and those just starting out. However, the known wallet of Wintermute is not holding any DOGE. 

Wintermute predicted that in 2025, mainstream finance would discover more tools to tap crypto earnings, while limiting volatility. The market maker expects more ETF products to roll out in 2025, providing more exposure for mainstream investors. 

After the success of single-coin ETFs, focused on BTC and ETH, Wintermute predicts multi-asset products for broader baskets of crypto coins and tokens. Some of the ETF products may start tracking trends in the market, including memes. 

DOGE is already an asset under consideration by Grayscale, which does not limit the fund issuer to a specific deadline for creating products. While DOGE is widely available for mainstream buyers, an ETF may increase new investments dramatically. Grayscale also pointed to DOGE in its recent report on the top 10 appreciating assets for the past week. DOGE was right behind XRP and Cardano (ADA), as buyers accumulated tokens considered on the verge of a bigger breakout.

DOGE may have a higher chance for an ETF, if Litecoin (LTC) also gets onboarded to a mainstream fund. DOGE is still mined through Litecoin blocks, making it one of the most secure meme coins. 

Whales move in during Dogecoin rally

In the short term, DOGE is rising on renewed interest from whales. In the past, large-scale buyers have moved in to scoop up more DOGE, due to the asset’s ability to appreciate. 

🚨 🚨 80,452,117 #DOGE (33,127,063 USD) transferred from #Robinhood to unknown wallethttps://t.co/FV4f1wCkh1

— Whale Alert (@whale_alert) January 17, 2025

Whales poured $200M into the market during the rapid rally of DOGE. Exchange wallets also increased their balances. Notable whale transactions moved 600M DOGE in a few hours, extending the period of accumulation.

The wave of buying arrived with technical predictions of a bigger price breakout, as DOGE consolidated close to $0.40. The XRP rally also helped DOGE, which has been predicted to go as high as $1. 

DOGE continues to grow its supply each day, with 10,000 new coins created every two minutes. Miners are among the big holders of DOGE, due to co-mining with LTC. 

Compared to newer top memes like WIF and PEPE, DOGE is still more liquid and has accrued listing and users. DOGE is held in 143,872 wallets, though over 30% of the coins are held by whales. 

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