Dogecoin Sees Record Wallet Activity As Community Awaits ETF Decision

Wallet trackers lit up when Dogecoin active addresses hit 1.6 million. That spike arrived as DOGE hovered around $0.169, with traders focused on an SEC deadline for the first spot Dogecoin ETF, expected early August.

Across Telegram groups, the mood felt calm but hopeful one dev joked it was “quiet like 2021, right before the fireworks.” A friend on my desk added he’d parked some cash in Remittix, a newer PayFi coin that pays out in fiat, just in case the wait for DOGE drags on.

Surging Wallet Metrics Signal Grass-Roots Demand

Blockchain data showed wallets accumulating DOGE. Even micro wallets are piling in: addresses with one Dogecoin or less climbed above ten million, a fresh record.

Developers pointed to the ongoing “Libdoge” upgrade that trims node sync time by 30 %; the patch rolled out to miners on 16 June. That performance boost helped shrink average block intervals to 59 seconds for three straight days, versus the 65-second norm.

Faster blocks, plus chatter around the ETF, have brought older coins back to life: dormant Dogecoin aged over two years moved for the first time since 2023, signalling long-term holders are repositioning.

ETF Hopes and Market Positioning

The proposed VanEck and Galaxy spot Dogecoin funds sit in the SEC’s comment period, with final feedback due 28 July. If approved, analysts at K33 Research say the fund could attract $700 million within its first quarter, roughly matching the debut flow seen in Solana’s ETF in May.

Spot liquidity remains robust. Dogecoin rebounded 4.7% from an intraday low of $0.164 to close near $0.171, despite broader market weakness. Meanwhile, Glassnode’s entity-adjusted flow reads a net outflow of 74 million coins over five sessions, suggesting holders are yanking assets off exchanges in anticipation of a catalyst.

What to Watch Next

The story hinges on two numbers: $0.187 overhead and $0.165 beneath. A daily close above the first could spark a run at $0.21; lose the second, and momentum traders will likely aim for $0.148.

Wallet counts, block speed, and ETF headlines will steer sentiment day by day. Those betting on quicker, bank-friendly rails may keep an eye on Remittix, whose fiat settlement pitch offers a different path from Dogecoin’s meme-driven charm.

Either way, the next six weeks promise to decide whether DOGE graduates to regulated status or spends another season waiting in the kennel.