Partly updated for Enshrouded 1.0— 1.0: the unlock cost; the rest is pre-1.0 wiki data

Soaked Dog
Weakens the effect of the Wet and Soaked debuffs. Stamina and Stamina Regeneration are reduced by 10% instead of 20%. Wet Reduces Stamina and Stamina Regeneration by 30% for 15 minutes. Warmth reduces the remaining duration. Soaked Reduces Stamina and Stamina Regeneration by 30% for 30 seconds.
Also reduces Ice and Shock Resistances by 30% but increases Fire Resistances by 30%. Soaked can be applied to enemies. Soaked duration can not be reduced by warmth and Wet debuff starts after it is over.
Where Soaked Dog sits on the 1.0 tree
In the Warrior area. The cheapest way in from a starting point buys 3 nodes for 7 points, this one included (one rank each).
Related Warrior skills
Same archetype — likely candidates to slot next to Soaked Dog in a build.
Absorb1pValues in the 1.0 files: 4% per rank, 3 ranks.
Constitution1pIncreases your Constitution attribute by 1 Increases Health by 50 per Attribute Point
Finesse1pValues in the 1.0 files: 15% per rank, 3 ranks.
Heavy Handed1pAn enemy's stun bar is increased by an additional 20% when attacking into their block with a melee weapon.
Heavy Plates1pValues in the 1.0 files: 4% per rank, 3 ranks.
Purification1pAfter defeating a Shroud infested foe with a melee weapon you replenish +5 seconds of Shroud Time. Shroud Time Should this time run out, the Shroud will consume you.
Shiny Plates1pValues in the 1.0 files: 4% per rank, 3 ranks.
Strength1pIncreases your Strength attribute by 1 Increases Melee damage by 5% per Attribute Point
Sources: game files 1.0 + Keen Games 1.0 patch notes (changelog, combat changes) for the unlock cost; enshrouded.wiki.gg (pre-1.0) for the description and effects.