Dogecoin Price Faces Critical Support Amid ETF Demand Drop

Dogecoin's price has dropped to $0.071 as ETF demand vanishes, with no new inflows recorded over the past month. The memecoin also faces selling pressure on Binance.

Leonard Kravets1 hour ago

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Dogecoin's price has fallen to $0.071, marking a 3.17% decrease as it tests critical support levels. This decline coincides with a notable absence of new capital inflows into Dogecoin exchange-traded funds (ETFs) over the past month.

According to data from SoSoValue, U.S. Dogecoin ETFs have not attracted any fresh investments between June 17 and July 17. This lack of demand from Wall Street investors is contributing to the current price pressure on the popular memecoin.

Additionally, Dogecoin is experiencing significant selling pressure on Binance, with memecoins collectively facing $1.2 billion in selling pressure since Bitcoin's recent peak. This trend highlights broader market challenges for memecoins amid fluctuating investor interest.

The current situation raises concerns about Dogecoin's ability to maintain its support levels, as both ETF demand and market sentiment appear to be waning.

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Leonard Kravets

cryptocurrency journalist and market analyst focused on the intersection of blockchain, culture, and real-world adoption. Known for his clear, data-driven writing style, he covers emerging altcoins, DeFi trends, and the risks behind hype-driven projects. With a strong emphasis on education, transparency, and spotting potential scams before they spread.

Sources

Leonard Kravets

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