Dogecoin Falls to $0.13 Despite Spot DOGE ETF Launches and Rising On‑Chain Activity

Published: 2025-12-06 21:29:30 |

Dogecoin (DOGE) plunged to a yearly low near $0.13 even as U.S. spot DOGE ETFs launched and on‑chain activity rose. Early ETF products (Grayscale’s GDOG and Bitwise’s BWOW/GWOW) saw strong initial turnover — nearly 5 billion DOGE across the first three sessions and peak 24‑hour volume spikes (one period recorded ~830.7 million DOGE, 174% above average) — but inflows faded quickly. Combined net assets across major DOGE ETFs are small (roughly $6.9 million) with cumulative net inflows around $2.8–2.85 million and daily net flows falling to zero by Dec. 4. On‑chain metrics show rising active addresses (≈71.6k in November) and elevated turnover, indicating persistent retail participation. However, large institutional‑sized sell blocks and heavy sell volumes (peak days >14.4M DOGE sold) have capped gains and driven intraday losses (e.g., a session move from $0.1422 to $0.1377) and a weekly decline of ~1.7%. Analysts attribute weak ETF demand to broader risk‑off positioning that favors BTC/ETH and to institutional selling pressure. For traders: the short‑term outlook is bearish — ETF approvals have not produced sustained buying or material institutional adoption compared with other altcoin ETFs (e.g., SOL, XRP). Monitor net ETF flows, large wallet/block trades, custody and sponsor‑fee developments, and support at $0.13–$0.14 for trade signals and risk management.

Bearish

Price impact is likely bearish. Although spot DOGE ETFs launched and on‑chain metrics (active addresses, turnover) rose, ETF inflows remain small and short‑lived, and large institutional‑sized sell blocks have exerted downward pressure. The combination of weak net flows (daily inflows falling to zero), limited AUM (~$6.9M combined), and repeated heavy sell volumes means buying pressure is insufficient to sustain rallies. In the short term, expect continued volatility with downside bias — support at $0.13–$0.14 is critical and a breach would likely attract further selling. For a durable bullish reversal, traders should look for consistent positive net ETF inflows, a drop in large block selling, or improving macro risk appetite that reallocates capital into altcoins. Absent these, DOGE’s price is prone to further declines and choppy trading.