Dogecoin Plunges 8% as ETFs Fail to Spur Demand
Dogecoin (DOGE) fell nearly 8% after its key $0.1495 support broke, triggering a high-volume sell-off that outweighed modest inflows from Grayscale and Bitwise ETFs, which totaled just $2.16 million in their first week.
The breakdown marks a shift from consolidation to a downtrend. DOGE traded 1.56 billion tokens—about 6.5× the daily average—highlighting institutional or algorithmic selling. The token slid through lower highs and lows, reaching the $0.1370 range.
Attempts to reclaim $0.1383 repeatedly failed, leaving DOGE consolidating between $0.1372 and $0.1383, signaling temporary stabilization but maintaining bearish momentum.
Key Points:
- ETF inflows underwhelmed at $2.16M.
- Breakdown below $0.1495 confirms a downtrend.
- Volume surge indicates strong selling pressure.
- Resistance at $0.1383 blocks recovery; momentum remains oversold.
- Narrow consolidation suggests a pause, not a reversal.
