Dogecoin Sits on 200-Day Average at $0.0927 Amid Ongoing Fee Debate

Dogecoin has been trading at $0.0927 as of October 3, sitting on its 200-day average price and practically on the line between an upward and downward phase according to technical analysis from Blockchain.News. The current price is also 87% below its record high of $0.7316 set on May 7, 2021. This means that anyone counting on a return to this level would be expecting an eightfold rise.

The trading turnover for Dogecoin remains one of the highest in the market, with around six percent of the coin's market capitalization being traded each day. However, this also comes at a cost, as investors must consider the 2.5% annual fee associated with buying through an exchange-traded product (ETP) on Xetra.

For German investors, there are two routes to buy Dogecoin: directly through a trading platform or through an ETP on Xetra. The direct purchase route comes with no ongoing fees, but investors should be aware that any gain from a direct purchase made after one year is tax-free in Germany.

The 21Shares product, which was launched on April 8, 2025, and trades under the ticker DOGE on Xetra, has an annual fee of 2.5% and carries an issuer risk due to its nature as a debt security (ETN). However, reputable providers like 21Shares defuse this risk by physically backing the product with the corresponding quantity of Dogecoin held in custody.

It's worth noting that while institutional capital has not been attracted to Dogecoin through the exchange wrapper, investors who have lived through a closure like Bitwise's wind-up of its Dogecoin fund BWOW know the uncomfortable part: the payout comes in cash and at the valuation-date price, not in coins. This can be a sale for tax purposes, even though you did not trigger it.