Dogecoin Pulls Back as Grayscale GDOG ETF Launch Fails to Lift Price
Dogecoin (DOGE) retreated after early-session gains as Grayscale’s DOGE ETF (GDOG) debut on the NYSE failed to overcome selling pressure and persistent resistance. While the ETF expands institutional access, DOGE remains in a period of structural weakness.
Whale activity continues to weigh on the token. Wallets holding 10–100 million DOGE offloaded nearly 7 billion tokens between September 19 and November 23, creating a supply overhang that limits upside momentum despite growing institutional infrastructure.
DOGE is consolidating between $0.144 and $0.1495, with repeated rejections at the upper boundary reinforcing a neutral-to-bearish trend. Support at $0.144 has held, but weak volume during recovery attempts signals hesitant buying.
On November 24, DOGE traded within $0.1449–$0.1495, closing at $0.1456 for a 1.4% decline. Early-session volume spiked sharply but failed to sustain gains, leaving DOGE vulnerable to further downside.
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