DOGE price under pressure: Insufficient fund inflows from Grayscale and Bitwise ETF trigger short-term dumping.

The price of DOGE has fallen sharply recently, with a cumulative drop of about 9% to 15% over the past few days, now trading below $0.1450, with a technical support level around $0.1330. The price decline is mainly related to the poor performance of the newly launched DOGE ETF. It is reported that the DOGE ETFs launched by Grayscale and Bitwise have only attracted about $2.16 million in inflows, far below the levels seen during the initial phases of Bitcoin and Ethereum ETFs, reflecting a cautious attitude from institutional investors towards DOGE.

Although Elon Musk publicly supports DOGE, its “meme coin” positioning poses strict risk control restrictions for fund managers, limiting the appeal of speculative assets. Insufficient ETF inflows may exacerbate selling pressure in the spot market, and arbitrage trading may further drive short-term volatility. The correlation between DOGE and Bitcoin typically ranges from 0.7 to 0.85, and when Bitcoin falls, DOGE often faces greater retracement pressure.

The technical indicators show that DOGE has broken below the key ascending trend line on the hourly chart, with the support level around $0.1520. The price briefly consolidated after touching $0.1369. The current trading price is below the 100-hour simple moving average, and any rebound may be hindered at $0.1420. The main resistance levels are at $0.1465, $0.1490, and $0.1520 in sequence. On the downside, initial support is at $0.1370, with key support at $0.1330. If this level is broken, the price may temporarily drop to between $0.1250 and $0.1240.

Technical analysts closely monitor Fibonacci levels and key moving averages to look for trading signals. During bear markets, retail stop-loss orders may be triggered in a chain reaction, and the performance of ETFs indicates a lack of institutional support, increasing the risk of an imbalance between buyers and sellers. The speculative nature of DOGE means that its price may experience further volatility during the downward movement.