Dogecoin ETFs Gain Momentum With Three Weeks of Inflows

Dogecoin [DOGE] continues to defy its meme origins with sustained interest in its exchange-traded funds (ETFs). Over the past three weeks, DOGE ETFs have attracted approximately $3.5 million in inflows. The first week ended on September 18th with $284,500, followed by a significant surge to $2.8 million in the second week. The most recent week saw inflows of $327,360, bringing the total assets under management to $16.2 million, up from $12 million in mid-September.

While these figures are modest compared to Bitcoin ETF standards, they represent a notable shift for a memecoin-based product. The inflows coincide with the launch of the DogeOS public testnet on September 30th, which allows developers to test payments, trading, lending, and gaming applications built on DOGE. However, the testnet uses free test DOGE with no real value, and DogeOS is not an upgrade to Dogecoin itself but rather a separate layer.

As of the latest data, Dogecoin is trading at $0.0946, reflecting a nearly 20% increase from its mid-September low of $0.079. The price spiked above $0.10 on September 21st, briefly reaching $0.106, before stabilizing between $0.091 and $0.099. Technical indicators suggest steady buying interest, with the Relative Strength Index (RSI) remaining above neutral and the On-Balance Volume (OBV) climbing to 154.31 billion.

The combination of ETF inflows, the DogeOS testnet, and positive price momentum suggests growing interest in Dogecoin. However, a clear breach of the $0.10 mark would be needed to sustain upward momentum.