What’s Next for DOGE Following the Debut of Grayscale’s GDOG ETF?

Dogecoin Pulls Back as Grayscale GDOG ETF Launch Fails to Lift Price

Dogecoin (DOGE) retreated after an early-session surge as Grayscale’s DOGE ETF (GDOG) debut on the NYSE failed to overcome selling pressure and entrenched resistance. The launch expands institutional access, joining broader ETF growth across crypto, including XRP and other altcoins, but DOGE enters the market amid structural weakness.

Whale selling continues to weigh heavily. On-chain data shows wallets holding 10–100 million DOGE offloaded nearly 7 billion tokens between September 19 and November 23, maintaining a significant supply overhang and suppressing upside momentum despite growing institutional infrastructure.

DOGE remains trapped in a narrow range between $0.144 and $0.1495. The upper boundary repeatedly rejected breakout attempts, while lower highs below $0.152 signal a neutral-to-bearish trend. Support at $0.144 has held, but shrinking volume during rallies highlights weak buying pressure.

On November 24, DOGE traded between $0.1449 and $0.1495, closing at $0.1456 for a 1.4% loss. Early-session volume spiked 180% above average but failed to sustain gains. Overall, technical pressures continue to dominate, leaving DOGE vulnerable despite the ETF catalyst.