Dogecoin is stirring again, but this time, it’s not retail traders causing the noise. It’s the whales.

On April 14, DOGE whales scooped up over 800 million tokens in just one day, dropping nearly $128 million into the meme coin. That kind of move doesn’t happen without reason. It usually means large holders are positioning ahead of a potential shift in momentum, and the signs are starting to stack up.

Why are whales loading up on Dogecoin?

A lot is going on beneath the surface. Bloomberg analysts Eric Balchunas and James Seyffart now estimate a 75% chance that a spot Dogecoin ETF could be approved in 2025. That’s second only to Bitcoin.

The SEC views DOGE more like a commodity than a security  — a big deal in a space where regulatory clarity is still rare. This puts DOGE in a favorable position for institutional adoption down the line.

Add to that the cultural force behind Dogecoin. Elon Musk still backs it publicly, and it’s the only meme coin with mainstream recognition that rivals Bitcoin. Unlike Ethereum, which some investors still see as playing catch-up to BTC, Dogecoin has its spotlight — and its narrative.

Just last week, 21Shares became the third major institution, after Grayscale and Bitwise, to file for a DOGE ETF. It’s not just noise. Institutional interest is growing, and whales are already making their move.

DOGE Price Outlook – Bullish Divergence, But Watch the Trendline

From a technical point of view, Dogecoin is showing early signs that it might be getting ready to bounce back. On the daily chart, the price recently dropped lower, but the RSI (a momentum indicator) didn’t follow — it moved higher. That kind of mismatch often hints that the downward trend could be losing steam.

That said, DOGE isn’t in the clear just yet. It’s still stuck below a key trendline that’s been pushing the price down for weeks. Until it breaks above that line, any short-term bounce might not last. It also wouldn’t be a surprise if DOGE falls again to around $0.14, which could actually be a good thing if it forms a solid base there (a double bottom) before heading higher.

As of today, DOGE has moved up to around $0.7325, showing some strength in the short term. But for that move to really mean something, we need to see strong buying volume and a proper breakout above the trendline.

Can PEPE Outperform DOGE in 2025?

While DOGE might be positioning for a solid rally, it’s important to zoom out. Dogecoin’s massive market cap makes it less likely to deliver those crazy 10x or 100x gains that early-stage investors usually chase. 

That’s exactly why many high-risk, high-reward players have started shifting toward smaller, more volatile meme coins — and PEPE is right at the top of that list.

PEPE exploded onto the scene in 2023, tapping into Ethereum’s meme culture and quickly turning heads with its sky-high returns. But it’s proven it’s more than just a passing trend. 

The coin still has strong liquidity, devs are actively working behind the scenes, and it continues to dominate crypto chatter, especially in Asia, where it’s picked up serious momentum.

The biggest edge PEPE has over DOGE right now is its size. It’s still in that early, high-upside phase, giving it way more room to run. DOGE, on the other hand, moves slower, safer, sure, but not as aggressively when it comes to upside.

And there’s something else — PEPE is quick. It adapts faster to market sentiment, viral trends, and whale activity. In the meme coin game, that speed can be everything. With meme coins, timing and virality matter just as much as fundamentals, and PEPE continues to capitalize on both.

Dogecoin is building momentum again, this time backed by smart money and ETF speculation. The technicals are shaping up, and the fundamentals are catching attention. If it can hold current levels and break its descending trendline, DOGE could be on the path to $1 by 2025.

But if you’re chasing asymmetrical gains, PEPE still holds more firepower in terms of volatility and potential upside. It’s the meme coin with the most to prove — and the most to gain — this cycle.

So while DOGE might be the meme coin for the institutions, PEPE might still be the one for the degenerates. And in crypto, both camps usually end up winning, just at different times.

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