Dogecoin has been grinding higher, and the last 24 hours brought a clean 11 percent move. It looks less like retail excitement and more like a coordinated set of institutional catalysts. Dogecoin is sitting at $0.24 today. For most of the session, it stayed locked between $0.23 and $0.24. It is currently hanging at the upper end of that range. Trading volumes also spiked, a sign that bigger players were active. That $0.23-$0.24 zone still looks solid as support. If the momentum holds, this range will likely be the next level to watch for another test. Whale Accumulation Hits $150M in August Buys The most striking driver was whale accumulation. In August alone, whales added more than 680 million DOGE, roughly $150 million worth. That kind of buying doesn’t happen casually, and it tends to front-run bigger moves. Layer that on top of broader volume spikes 61.8 million and 378.6 million DOGE in separate bursts. The case for sustained interest starts to firm up. Institutional developments gave the move real weight. A Trump-linked mining deal valued at $50 million created the largest dedicated Dogecoin mining operation to date, showing clear confidence in infrastructure at scale. Wyoming’s stablecoin launch added another piece, signaling state-level regulatory acceptance and opening the door for DOGE pairings with a U.S.-backed digital asset. On the policy side, dovish Fed commentary from Vice Chair Michelle Bowman encouraged banks not to drag their feet on digital-asset adoption, which fed directly into stronger risk appetite for crypto. ETF Filing Speculation Fuels Market Excitement ETF filing chatter added yet another layer of speculation. Markets have started circulating talk of a potential Dogecoin trust ETF, with an SEC decision possibly coming in 2025. It’s early, but even unconfirmed filings tend to drive positioning ahead of time. On-chain data reinforced the trend. Holder counts passed eight million addresses, up from 6.9 million at the start of the year. The NVT ratio at 1.5 suggests transactional activity is healthy relative to valuation. Futures open interest held near $3 billion, showing that leverage hasn’t overheated. All of these together paint a picture of accumulation without excessive froth. Sentiment Splits around Dogecoin Community sentiment also tilted bullish. They point to whale accumulation, the stablecoin launch, the Trump mining deal, dovish Fed commentary, and ETF filing speculation as the key mix of catalysts. Around a quarter of traders stayed neutral, waiting to see whether the $0.23 to $0.24 band breaks cleanly. Only a minority leaned bearish, flagging Dogecoin’s inflationary supply and the possibility of a drop to $0.15 if momentum fades. Analysts are watching levels closely. Flipping $0.24 into support would confirm bullish momentum. Others floated longer-term possibilities, some looking toward $0.41 on technical setups and even as high as $0.95 if Dogecoin repeats historic cycles. Skeptics counter with a bear-flag argument that could point to $0.18 or lower if selling resumes. Taken together, today’s move looks more like a foundation being laid than a final spike. Whale accumulation, the stablecoin launch, the Trump-linked mining deal, the dovish Fed commentary, and ETF filing speculation are each significant on their own. Stacked together, they suggest Dogecoin is being positioned as more than a meme trade. Whether that narrative holds will depend on how firmly $0.22 becomes a base in the coming sessions.