Why whales sell and ETFs flip.

The buzz around meme coins seems to have died down.

Remember what happened a year ago? Trump won the US election, the cryptocurrency market was booming, and meme coins were popping up left and right and charting hot peaks. While DOGE may not be able to match the 2021 run, it still tested the $0.50 level in anticipation of the new government unit of the same acronym managed by Musk.

Fast forward to late 2025, and the landscape is completely different. The OG meme coin has fallen by the wayside, with a value of just over $0.12. It is down 7% weekly and 20% monthly. Perhaps more worrying is the recent behavior of the Dogecoin whales.

According to data shared by Ali Martinez, these market participants spent 150 million coins in a massive sales campaign.

150 million Dogecoin $DOGE has been sold by Whale in the last five days. pic.twitter.com/XxN1FZWDv1

— Ali Charts (@alicharts) December 26, 2025

The big meme coin joined the likes of Bitcoin, Ethereum, XRP and SOL a month ago when it had two exchanges tracking its performance and released on Wall Street. The products launched by Greyscale and Bitwise are called GDOG and BWOW.

This may seem like a step in the right direction, especially in terms of legality, the actual numbers are disappointing to say the least.

Data from SoSoValue shows that there was only a small movement from last month. The total net income is just over 2 million dollars, which is nothing compared to the 1.1 billion dollars of XRP funds in the same period. Moreover, since December 10, no concrete activity has been recorded.

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This just goes to show that meme coins are only minted at retail, and can be at least temporarily forgotten in the absence of Elon Musk (or someone of similar stature) to promote them. However, such negative moments have been seen in the past, but DOGE has always found a way to return to people's hearts.