Dogecoin Plummets 36% Amid Death Cross and Weak ETF Demand
Dogecoin has tumbled more than 36% since its September peak, sliding from $0.3066 to near $0.1981. On the daily chart, the meme coin broke below an upward wedge and edges toward a death cross as its 50-day EMA nears a crossover under the 200-day EMA. Analysts warn that a fall below the $0.1515 support could trigger a further 22% drop.
On the weekly timeframe, a bearish flag emerged after a steep fall from $0.4838 to $0.1295. A breach of the long-term $0.0570 level could push Dogecoin toward $0.0052, implying a 90% collapse.
Fundamentally, demand is weak. The REX-Osprey DOGE ETF holds just $30.7 million in assets, with no ETF inflows and a 1.5% expense ratio. In contrast, the XRP ETF exceeds $100 million. Dogecoin futures open interest has plunged from $6 billion to $1.85 billion year-to-date. Meanwhile, $364 million in liquidations this month have added volatility and dampened trader confidence.
With bearish signals dominating both technical analysis and ETF inflows, traders will monitor key levels—especially the $0.2150 pivot and $0.1515 support—for signs of stabilization or further decline.
Bearish
The combined analysis is bearish. Short-term, Dogecoin faces downward momentum as it nears a death cross on daily charts and has already broken key supports. Low ETF inflows, a small AUM and high expense ratio for the DOGE ETF, plus collapsing futures open interest and heavy liquidations, reinforce selling pressure. In the medium term, a confirmed break below $0.1515 could drive further losses, while weekly patterns suggest even deeper retracements. Long-term, failure of the $0.0570 support could trigger a collapse toward $0.0052. Traders are likely to stay cautious or reduce exposure until critical pivot levels hold.