Dogecoin Price Edges Up Despite ETF Outflows and Bearish Signals
Dogecoin's price edged 1.23% higher on August 1 to trade around $0.070, despite the first-ever outflows from newly launched spot Dogecoin exchange-traded funds (ETFs). The ETFs recorded net outflows of $525,980 in July 2026, marking their first monthly withdrawal since debuting in November 2025.
The total net assets of the ETFs still hold at $9.96 million, while cumulative net inflows remain at approximately $12 million. Grayscale's Dogecoin ETF remains the largest fund in the sector, managing $6.83 million in assets and recording fund flows during July.
However, technical indicators suggest Dogecoin could face additional downside pressure. The weekly chart has formed a death cross, with the 50-week simple moving average falling below the 200-week simple moving average, a pattern often associated with prolonged bearish momentum.