Dogecoin Today, November 26, 2025: Price Holds Near $0.15 as New Wall Street ETFs GDOG and BWOW Struggle to Ignite Demand

Updated: November 26, 2025

Dogecoin (DOGE) is trading around $0.15 today while Wall Street’s first dedicated Dogecoin exchange‑traded products (ETPs) fight for attention in a risk‑off crypto market. Grayscale’s GDOG ETF, which debuted on November 24, has posted a muted launch, and Bitwise’s new BWOW Dogecoin ETF officially begins trading on the New York Stock Exchange today. ^[1]

Below is a breakdown of the key Dogecoin news and price drivers for November 26, 2025.

Dogecoin price today: flat near $0.15, still far below 2021 highs

Across major data providers and exchanges, Dogecoin is hovering in a tight band around $0.15 this afternoon. Pintu’s market summary puts DOGE at roughly $0.151 with a modest 0.3% 24‑hour gain, while Bitget’s ticker shows DOGE at $0.1495, up about 0.5% on the day. ^[2]

On a higher‑timeframe basis, the picture is much rougher:

YCharts data shows Dogecoin at about $0.153 today, up less than 1% from yesterday but over 60% lower than a year ago. ^[3]
An analysis published via Nasdaq notes that DOGE’s price has fallen about 48% in 2025 (as of November 19)and trades roughly 76% below its May 2021 peak, underscoring how much speculative froth has drained from the memecoin. ^[4]

That backdrop is crucial for interpreting today’s ETF headlines: Wall Street is arriving to Dogecoin after a brutal drawdown, not at the top of a hype cycle.

Grayscale’s GDOG: the first U.S. spot Dogecoin ETF stumbles out of the gate

The biggest structural story for Dogecoin this week is the arrival of the first U.S. spot DOGE ETF — and its unexpectedly soft reception.

Underwhelming first‑day volume

Grayscale’s Dogecoin Trust ETF (ticker: GDOG) began trading on NYSE Arca on November 24, 2025, becoming the first U.S. exchange‑traded product directly linked to Dogecoin. ^[5]

However, today’s data show a launch that fell far short of bullish expectations:

GDOG recorded about $1.4 million in first‑day trading volume. ^[6]
Bloomberg ETF analyst Eric Balchunas had publicly projected around $12 million in day‑one volume – meaning the actual figure came in nearly 90% below that estimate. ^[7]
CoinPaper reports that the fund currently holds roughly $1.7 million in assets, with a net asset value around $17.98 per share, highlighting how little capital has moved into the product so far. ^[8]

Several analysts stress that $1.4 million in turnover is “solid for an average launch” but disappointingly low for a “first‑ever spot Dogecoin ETF”, especially when compared with recent XRP and Solana ETF debuts that saw tens of millions in day‑one trading. ^[9]

Risk profile and fee waivers

A Bitget breakdown of GDOG emphasises that:

GDOG is not registered under the Investment Company Act of 1940, meaning it lacks some of the protections associated with traditional ETFs. ^[10]
It is a single‑asset, non‑diversified ETP, whose value tracks Dogecoin itself and is directly exposed to DOGE’s notorious volatility. ^[11]
Grayscale has temporarily waived the 0.35% management fee for the first $1 billion in assets or for three months, mirroring a fee‑holiday strategy also used by Bitwise. ^[12]

French outlet InvestX goes further, calling GDOG’s launch “catastrophic” from an institutional‑flows perspective, noting zero net share creations on day one — a sign that no fresh institutional capital entered the fund despite headline trading volume on the exchange. ^[13]

Taken together, the data suggest ETF wrappers alone are not enough to overcome skepticism around a meme‑driven asset in a bearish market.

Bitwise’s BWOW Dogecoin ETF launches today on NYSE

While GDOG processes its slow start, Bitwise is stepping onto the same stage.

Product details and launch terms

Bitwise Asset Management has launched the Bitwise Dogecoin ETF, trading on the New York Stock Exchange under the ticker BWOW beginning November 26, 2025. ^[14]

Key facts from Bitwise’s prospectus and press materials:

Bitwise manages over $15 billion in client assets across more than 40 crypto investment products. ^[15]
BWOW charges a 0.34% management fee, but that fee is waived to 0% for the first month on the first $500 million in assets, an aggressive incentive to seed liquidity. ^[16]
The ETF is not registered under the 1940 Act, again meaning fewer structural protections than many traditional stock and bond ETFs. ^[17]

Bitwise highlights several DOGE metrics to justify the product:

Dogecoin is described as the seventh‑largest crypto asset by market cap, around $22 billion, with roughly $1 billion traded daily on centralized exchanges. ^[18]
The token dates back to 2013, giving it far more longevity than most meme coins.

“We weren’t expecting to launch this product”

Bitwise CEO Hunter Horsley frames BWOW as a response to persistent community demand rather than a top‑down product idea. In comments cited by both Bitwise’s press release and Cryptonews, he notes that Dogecoin:

“Began as a joke and became an icon of the crypto movement,”
Does not claim deep fundamentals or utility,
But has remained relevant and valuable longer than most coins launched in the same era. ^[19]

Bitwise stresses, however, that:

BWOW is high‑risk and “not suitable for all investors.”
Holding BWOW is not the same as owning DOGE directly; it is an ETP exposure with its own structural and regulatory risks. ^[20]

The battle between GDOG and BWOW now becomes a live experiment in how much real appetite exists for institutional Dogecoin exposure.

Altcoin ETF hierarchy: DOGE trails XRP and Solana launches

The tepid GDOG debut looks even weaker when set against the broader altcoin ETF wave.

CoinPaper notes that XRP‑focused funds recently pulled in about $59 million in first‑day trading volume, while Solana ETFs saw approximately $56 million on debut. ^[21]
A separate Cryptonews review of altcoin ETFs highlights that new Solana and XRP products have quickly amassed hundreds of millions in assets, even as some Bitcoin ETFs see net outflows. ^[22]

By contrast, GDOG’s $1.4 million in first‑day volume and low assets under management signal much weaker institutional enthusiasm for Dogecoin — at least in this market phase. ^[23]

This divergence reinforces a clear hierarchy:

Bitcoin remains the anchor of crypto ETF flows.
Large‑cap altcoins with perceived “utility” like Solana and XRP are carving out substantial niches.
Memecoins like Dogecoin are still treated as speculative side bets, even when wrapped in regulated products.

On‑chain data: whales accumulate while flows and futures cool

Despite ETF skepticism, on‑chain and market‑microstructure data paint a more nuanced picture of DOGE demand today.

Whales added over 1 billion DOGE ahead of the ETF launches

Pintu’s November 26 analysis highlights a classic bullish divergence on the daily chart: while DOGE set a lower low in early November, the RSI indicator formed a higher low, often a sign of a potential trend reversal. ^[24]

That signal coincided with aggressive accumulation from large holders:

Wallets holding 100 million–1 billion DOGE increased their balance from 35.34 billion to 36.31 billion DOGEsince November 19.
Wallets with 1 million–10 million DOGE added coins as well, rising from 10.85 billion to 10.92 billion DOGE. ^[25]

In total, these two whale cohorts accumulated roughly 1.04 billion DOGE, worth about $153 million at current prices — the largest such accumulation in recent months, according to the report. ^[26]

But spot outflows and softer derivatives show lingering caution

A separate Pintu research note today emphasises that, despite whale buying, broader flows remain cautious: ^[27]

Spot flows show a persistent outflow trend throughout 2025, with multiple sessions seeing more than $40 million withdrawn from exchanges after sharp price drops.
On November 25, when DOGE traded near $0.148, spot outflows of $7.56 million were recorded, suggesting many traders still prefer to cut exposure.
In the futures market, open interest has fallen from over $5 billion earlier this year to roughly $1.47 billion, indicating fewer highly‑levered speculative bets, even though participation remains active.

Technically, analysts describe DOGE as stuck in a heavy consolidation zone around $0.147–$0.15, with:

Resistance at $0.150, $0.159, and $0.18–$0.20,
Support at $0.133, then $0.12 and $0.09. ^[28]

Only a sustained break above $0.18 is seen as confirmation of a more durable bullish reversal; a daily close below $0.133would instead signal that selling pressure is winning. ^[29]

Community warning: “Nothing can officially represent Dogecoin”

As traditional finance wraps Dogecoin into ETFs and structured products, one of the ecosystem’s most prominent developers is urging caution.

In a widely shared post earlier this month, pseudonymous Dogecoin developer Mishaboar reminded the community that no person, company, or fund “officially” represents Dogecoin. ^[30]

Key points from his warning, reported by U.Today via TradingView:

Dogecoin is a decentralized, community‑driven project; anyone claiming to be an “official” DOGE organization or spokesperson should be treated with skepticism.
He specifically cautioned against centralized products such as “Dogecoin treasuries, ETFs, and loan programs”that market themselves as authoritative or “official” DOGE vehicles. ^[31]
These products can function like risky IOUs, where users give up their coins in exchange for promises they may never fully control again.

The timing of this message — just as GDOG and BWOW come to market — underlines an important tension: Wall Street wants to package DOGE; core community voices want holders to stay wary of intermediaries.

Sentiment split: skeptical analysts vs. loyal community

Mainstream financial commentary remains deeply divided on Dogecoin’s investment case.

A recent Nasdaq/Motley Fool column argues that Dogecoin “doesn’t solve a problem,” has a tiny developer community (about 20 full‑time devs versus thousands working on Ethereum), and is likely to remain mostly a speculative meme asset. ^[32]
The same piece highlights Dogecoin’s 48% price decline in 2025 and steep drawdown from its all‑time high as signs that the broader market may be losing interest. ^[33]

On the other side:

Bitwise and Grayscale both emphasise Dogecoin’s staying power, its 12‑year history, and a community that “numbers in the millions,” arguing that this cultural durability justifies dedicated ETFs. ^[34]
Technical analysts at CoinCentral and Pintu point to reversal structures and triangle patterns, suggesting that a break above $0.18 could open a path toward $0.20–$0.28 if broader market conditions cooperate. ^[35]

For now, the price action (sideways near $0.15) and ETF flows (weak but non‑zero) reflect that tug‑of‑war between skepticism and loyalty.

What today’s news means for Dogecoin holders and watchers

For traders, investors, and curious onlookers, today’s Dogecoin news landscape can be boiled down to a few practical takeaways:

ETFs are a milestone, not a magic pump.
GDOG’s and BWOW’s arrivals prove that Dogecoin has crossed another legitimacy threshold in traditional finance. But the underwhelming early volumes and flows show that institutional capital is not rushing in yet. ^[36]
On‑chain data shows quiet accumulation, not full‑blown euphoria.
Whales adding over 1 billion DOGE into the ETF news window is significant, but persistent spot outflows and lower‑leverage futures suggest the market is still cautious rather than euphoric. ^[37]
Key technical battlegrounds are crystal clear.
The $0.17–$0.18 band remains the decisive resistance zone; reclaiming and holding it would be the first real sign that the ETF narrative is translating into sustainable demand. $0.133 is the key downside level to watch. ^[38]
Decentralization and self‑custody remain core community values.
Mishaboar’s warning underscores the ethos that made Dogecoin famous: DOGE is supposed to belong to everyone, not to any particular fund or issuer. ETF wrappers may be convenient, but they do not change that culture — and, in some cases, may clash with it. ^[39]

Risk reminder

Nothing in today’s Dogecoin news — including the launch of regulated ETFs — eliminates the high volatility and downside risk associated with DOGE. Multiple issuers, exchanges, and regulators themselves warn that:

Memecoins can experience rapid, unpredictable swings driven by social media sentiment. ^[40]
ETF structures like GDOG and BWOW carry product‑specific risks and fewer protections than traditional 1940‑Act funds. ^[41]

Anyone considering exposure — whether through a crypto exchange or an ETF — should treat Dogecoin as a high‑risk asset, diversify appropriately, and rely on their own research rather than hype.