Dogecoin's Record ETF Inflows Face Supply Test at $0.10
Dogecoin's recent surge in popularity has been fueled by record-breaking ETF inflows, but its constant new issuance creates a supply test as prices slip below $0.10.
The token's price has dropped to around $0.0926 after briefly reaching $0.0988, with a 5.5% decline on the day. This comes just after U.S. Dogecoin ETFs recorded their strongest week since launch, attracting approximately $2.89 million in net inflows.
The protocol's miner reward is 10,000 DOGE per block, resulting in around 14.4 million new coins generated daily and roughly $9.3 million worth of weekly issuance - more than three times last week's record ETF inflows.
Despite this, analysts believe that demand growth is crucial for the token's success. Large holders have accumulated over 1.14 billion DOGE, worth around $112 million, while prices approached the $0.098 resistance area.