Whales Scoop Up DOGE as Price Drops to $0.17—Is a Comeback on the Horizon?

### **Dogecoin’s Bullish Reversal Looms as Whales Accumulate 1.7 Billion DOGE**

Dogecoin is showing signs of a potential **bullish reversal** as **large investors (whales) accumulate 1.7 billion DOGE** worth approximately **$289 million** in just 72 hours. This surge in buying activity has sparked optimism among traders and investors.

### **Speculation Around Dogecoin ETF Approval Drives Buying**

The latest **whale accumulation** is believed to be linked to growing expectations of a **Dogecoin ETF approval**. Bitwise has an **active DOGE ETF application**, and with the **SEC recently declassifying memecoins as collectibles rather than securities**, approval chances appear higher.

### **Why Did Dogecoin Drop to $0.17?**

Despite the bullish outlook, **Dogecoin fell from $0.22 to $0.17** over the past week, mirroring the broader crypto downturn. The decline is attributed to:

🔻 **US Crypto Reserve’s Inaction** – No plans to buy additional crypto, limiting liquidity inflows.

🔻 **ETF Uncertainty** – Concerns that a Dogecoin ETF may struggle like Ethereum ETFs with low holdings.

🔻 **Macroeconomic Pressure** – Hawkish signals from the Federal Reserve have kept investor sentiment cautious.

### **What’s Next for Dogecoin?**

With **regulatory clarity expected by mid-2025** and upcoming **ETF approvals for XRP, Solana, and multi-token funds**, the market could see renewed bullish momentum. Meanwhile, Dogecoin’s **independent blockchain and Proof-of-Work consensus** continue to differentiate it from other memecoins, increasing its potential for long-term utility.