Dogecoin Pulls Back Despite Grayscale GDOG ETF Launch
Dogecoin (DOGE) retreated after early-session gains as Grayscale’s DOGE ETF (GDOG) debut on the NYSE failed to overcome selling pressure and entrenched resistance. While the ETF expands institutional access, DOGE continues to face structural weakness.
Whale activity remains a headwind. Wallets holding 10–100 million DOGE sold nearly 7 billion tokens between September 19 and November 23, creating a supply overhang that has capped upside momentum despite increased institutional infrastructure.
DOGE remains range-bound 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 highlights cautious buying.
On November 24, DOGE traded between $0.1449 and $0.1495, closing at $0.1456 for a 1.4% loss. Early-session volume spikes were insufficient to sustain gains, leaving DOGE vulnerable to further downside.
