Dogecoin Defends Key Support as ETF Inflows Soar Past $12 Million
Dogecoin (DOGE) continues to defend its support level of $0.056, which has proven to be a pivotal area for the cryptocurrency in recent months. According to technical analyst Ali Martinez, the TD Sequential indicator has produced a buy signal near this level, suggesting that bearish exhaustion may be setting in and hinting at a possible reversal.
Martinez noted that if support remains intact around $0.056, a rebound targeting $0.16 could be seen, with $0.45 representing a longer-term upside objective. However, he cautioned that the signal alone does not guarantee a bottom, and a close below $0.056 would weaken bullish reversal prospects and result in a deeper price correction.
Institutional interest in Dogecoin is also on the rise, with investment products tied to DOGE reporting over $12 million in net inflows. This growing figure highlights emerging institutional and traditional investor appetite for regulated DOGE exposure, which could provide support for the cryptocurrency's price.