- Dogecoin closed September with a 9% return, outperforming peers, as HODLers returned to profit amid shifting sentiment.
- The top 1% of addresses now hold 96.45% of supply, signaling a growing concentration of smart money in DOGE.
Dogecoin has started the fourth quarter with renewed momentum after weathering a $20 billion pullback in the memecoin sector during September. The token closed the month with a 9% return on investment, with top 1% addresses now controlling 96.45% of the supply.
This trend highlights a consolidation among large holders, often called “smart money,” and signals a cautious shift back to riskier bets as market sentiment recovers. On a 30-day basis, DOGE has rallied 21%, outperforming other digital assets and showing traders are rotating back to high-volatility opportunities.
Over 30 million Dogecoin $DOGE bought by whales in the last 24 hours! pic.twitter.com/8UhR9JrwsS
— Ali (@ali_charts) October 5, 2025
Fresh accumulation by whales has played a key role, with 30 million DOGE added to major wallets, aligning with a 13% price surge for October. On-chain data confirms that leverage in derivatives markets remains in check, suggesting that demand is organic and not driven by excessive speculation.
The “Net Unrealized Profit and Loss” (NUPL) metric indicates firm support between $0.23 and $0.25, as many holders who bought at higher levels have held through losses and are now returning to profit. With the current price at $0.26, Dogecoin has established several higher lows, and bulls are beginning to structure positions for an anticipated move to $0.30.
Institutional interest in a potential Dogecoin ETF is also contributing to the narrative, as increased HODLer profitability and fear-of-missing-out sentiment drive participation. While early-year holders remain below breakeven, recent price action suggests growing conviction among both retail and large players.
Should Dogecoin break above $0.30, the token could see renewed speculative inflows and further discussion of mainstream investment products. For now, Dogecoin’s Q4 performance shows how quickly sentiment and capital can shift in crypto markets, especially when anchored by strong whale backing and positive technical support.
Dogecoin (DOGE) is trading at $0.258, up 2.81% in the last 24 hours, with a market capitalization of $39.01 billion and a 24-hour trading volume of $3.14 billion. Over the past week, DOGE has risen 11.74%, and over the past month it has gained 21.46%, continuing a six-month uptrend of 72.57%. Despite this progress, DOGE remains 47% below its all-time high of $0.4875.
Recent analysis shows that Dogecoin has broken above its 20-day EMA at $0.24, indicating a renewed bullish structure. The coin currently trades in a $0.14–$0.29 range, forming an ascending triangle pattern, which traders see as a potential precursor to a strong upside move. Analysts from ETHNews suggest that if DOGE confirms this breakout, it could trigger a 153% rally toward $0.65–$0.80.
Community sentiment is rising again amid what traders are calling the “Uptober rally.” Social data from TradingView forums shows increasing expectations for DOGE to reach $0.50 before the end of the year, fueled by growing optimism around the approval of Dogecoin ETFs and its inclusion in institutional crypto funds.
