Dogecoin (DOGE) continues to assert its dominance in the cryptocurrency space, with its market capitalization now exceeding the entire NFT market by more than eight times. According to data from CoinGecko, DOGE’s market cap stands near $26 billion, while the struggling NFT sector remains far behind. The original memecoin was trading around $0.106, down roughly 4% in 24 hours amid broader market volatility, yet its overall valuation remains overwhelmingly larger than all NFT projects combined.
Whale Accumulation Reaches New Highs
On-chain analytics from Santiment revealed a surge in large transactions, with 739 DOGE transfers exceeding $100,000 recorded in a single day—the highest such activity in six months. Moreover, the 149 largest wallets holding at least 100 million DOGE now control an all-time high of 108.52 billion DOGE, valued at approximately $11.6 billion. This aggressive accumulation likely contributed to DOGE’s recent 14% rally over the previous ten days.
Analyst Target Hit, Short-Term Pressure Mounts
Analyst Ali Martinez noted that DOGE successfully reached his $0.1172 target after breaking through a major channel resistance, with profits subsequently booked. However, the token faced a pullback driven by broader market weakness and a flush of leveraged positions, resulting in over $13 million in DOGE liquidations. Despite this, futures open interest climbed to a yearly high of 15.3 billion DOGE, indicating sustained speculative interest.
ETF Inflows Resurface
Optimism around spot Dogecoin ETFs is growing. Three DOGE ETF products currently manage about $14.3 million in assets and recently posted their first two-day inflow streak since January, signaling that institutional demand may be reviving despite short-term price turbulence.
