Dogecoin Struggles Below $0.10 Despite ETF Inflows
Dogecoin (DOGE) continued its struggle below the $0.10 mark, trading at $0.0946 on October 5. This decline comes despite three consecutive weeks of inflows into DOGE exchange-traded funds (ETFs), which totaled approximately $3.5 million. The weekly inflows were reported as $284,500, $2.8 million, and $327,360, respectively. The assets under management for these ETFs increased from about $12 million in mid-September to $16.2 million.
The token briefly surpassed $0.10 on September 21, reaching a high of $0.106. However, over the following two weeks, DOGE fluctuated between $0.091 and $0.099. Despite this volatility, the token remained nearly 20% above its mid-September low near $0.079. Technical indicators showed the relative strength index above neutral, while the on-balance volume hovered around 154.31 billion for much of late September.
In other news, DogeOS launched its public testnet on September 30, providing developers with a platform to test payments, trading, lending, and games built around DOGE. The testnet uses free test DOGE obtained from a faucet, leaving Dogecoin’s Layer 1 unchanged. DogeOS represents an application layer designed to expand the utility of the Dogecoin network.
The latest price action follows a period where DOGE traded below $0.10 after briefly reaching that level during the week.