Dogecoin Extends Gains as ETF Inflows and Derivatives Signal Bullish Sentiment

Dogecoin has continued its upward momentum, trading above $0.096 on Monday. This recovery is supported by sustained inflows into spot DOGE ETFs and improving sentiment in derivatives markets. The ETFs recorded $327,360 in net inflows last week, marking the third consecutive week of positive flows. While this indicates growing investor interest, it’s important to note that these figures alone do not confirm institutional buying or outweigh other market dynamics.

The derivatives market also shows signs of bullishness, with CoinGlass’ long-to-short ratio reaching 1.01, slightly above the neutral threshold. Additionally, Dogecoin’s funding rate turned positive, reaching 0.0092% on Monday, suggesting stronger demand for bullish exposure in perpetual futures. However, traders should remain cautious, as positive funding does not guarantee sustained upward momentum.

Technically, Dogecoin’s recovery remains anchored by its 200-day exponential moving average (EMA) near $0.093. The meme coin is trading above its major daily moving averages, with the 50-day EMA at $0.088 and the 100-day EMA around $0.086. The Relative Strength Index (RSI) stands near 58, indicating positive momentum without being overbought. However, the Moving Average Convergence Divergence (MACD) indicator has slipped into negative territory, suggesting potential fading upward momentum.

The immediate challenge for Dogecoin is maintaining support above $0.093 and pushing past resistance at $0.102. A sustained move above $0.102 would strengthen the recovery case, while a drop below $0.093 could bring the $0.088 horizontal support and the 50-day EMA into focus. The outlook remains cautiously bullish, with continued ETF inflows and supportive derivatives positioning providing some optimism.