Dogecoin Price Pops 3% As Grayscale’s GDOG DOGE ETF Debuts On NYSE Arca

The Dogecoin price has jumped 3% in the last 24 hours to trade at $0.1482 as of 3.45 a.m. on a 10% increase in trading volume to $2 billion.

The DOGE price surge comes after Grayscale’s GDOG DOGE ETF went live on NYSE Arca yesterday, marking the first spot exposure to the meme coin in the US. The fund gives investors a new, regulated way to buy Dogecoin without holding it directly. 

Early trading for GDOG saw volumes near $11 million, showing strong appetite from both retail and institutional buyers.​

The Dogecoin price rallied to $0.149 after the DOGE ETF debut, rebounding from early November lows. This pop follows a period of weak performance as the broader crypto market fell nearly 7% over the past week.

Dogecoin Daily Active Addresses Show Steady But Slow Network Growth

On-chain metrics for Dogecoin show rising active addresses and transfer volumes around 29.6K, showing steady use of the network even when prices move up and down. The chart shows two big spikes in activity, one in early 2024 and another in early 2025. 

These jumps were short-lived and were likely caused by major news or large wallet movements. Apart from those moments, activity has stayed mostly stable with small ups and downs. This steady trend means Dogecoin still has an active community, but it isn’t growing quickly. The network is holding its ground, but there isn’t strong evidence of new users coming in. 

Dogecoin Active Addresses: Source: TokenTerminal

For DOGE to build stronger bullish momentum, a consistent rise in daily active addresses would be needed to signal growing utility and wider network participation. Dogecoin’s user activity appears stable but is not expanding rapidly. While its core community continues to transact regularly, there’s no strong trend showing increasing long-term adoption. 

Dogecoin Price Analysis: Uptrend Or False Start?

Dogecoin’s daily chart indicates a strong rebound from the major support zone around $0.088, with price now advancing toward the first resistance at $0.164 and the secondary resistance at $0.207. 

The upward move is supported by increasing trading volume and positive ETF sentiment, yet several indicators show mixed signals, suggesting that bullish momentum may face challenges as the price approaches these resistance levels. 

DOGEUSDT Analysis Source: Tradingview

DOGE has been trading in a sideways range for several weeks, but a sharp bounce from mid-range levels is shifting short-term sentiment. The price is still below both the 50-day and 200-day moving averages, indicating that bulls have work to do before a full reversal is confirmed.​​

The Relative Strength Index (RSI) sits at 39.81, which means DOGE is not overbought and still has room to climb if momentum improves. 

The MACD indicator is slightly positive, hinting at a possible trend change if buying continues. Meanwhile, the Average Directional Index (ADX) is at 44.40, showing that the current move has some strength but is not yet at breakout levels.​

Support At $0.088 Strengthens As Bulls Target $0.164 High

Recent price action shows that the $0.088 level remains a structurally strong support zone for Dogecoin, with buyers consistently absorbing sell pressure whenever the price approaches this area. 

On the upside, resistance levels are clearly defined at $0.164 and $0.207, both of which have repeatedly rejected bullish attempts in previous rallies. A confirmed breakout and close above the first resistance at $0.164 would open the door for a potential move toward the secondary resistance near $0.207, where sellers have historically been active.

However, failure to hold above the $0.149 mid-support could trigger renewed downside pressure, increasing the probability of another retest of the $0.088 demand zone. For now, technical indicators lean slightly bullish, with volume expansion supporting the latest upswing, though mixed oscillator signals suggest caution is still warranted.

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