Dogecoin ETF Inflows Soar, But Price Takes a Hit

The spot Dogecoin ETFs have had their best week ever in terms of inflows, with $2.89M absorbed this week, according to a social media post.

However, despite this surge in interest, the price of DOGE fell by almost 3% today.

A technical analysis of the chart suggests that the current dip may be a pause before another jump.

The pattern observed on the chart has repeated three times since August, with the price jumping sharply and then drifting down inside a descending channel.

Currently, DOGE is trading at $0.094145, above both the 20 EMA ($0.091254) and the 50 EMA ($0.086192), indicating that the bigger trend is still up.