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Dogecoin fell to US$0.068 after a death cross, ETF inflows climbed

2026-08-07 12:46:50
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Dogecoin prices fell to US$0.068 after a death cross, ETF inflows rose

This week, Dogecoin once again faced selling pressure, with the price falling to US$0.068, technical signals indicating continued weakness. This popular memecoin showed a clear "death cross" on the hourly chart in early August, that is, the 50-cycle moving average fell below the 200-cycle moving average. This pattern usually signals a bearish outlook for assets in the short term.

Technical pressures and price levels

The latest round of decline in Dogecoin began after August 3 and has been declining for four consecutive days. Since August, dogcoin has only risen in one trading day. Currently, Dogecoin has fallen by 1.78% in the past 24 hours, with a weekly decline of 2.03%, continuing the weakness that began to appear since the end of July.

Traders are closely watching the key support level of US$0.068. If Dogecoin rebounds, resistance is expected to be between US$0.073 and US$0.08. Technical analysts believe that movements around these price ranges will determine the short-term prospects of Dogecoin.

Overall market sentiment and key events

The broader cryptocurrency market performed mixed on Thursday, as investors awaited the release of U.S. non-farm payrolls data and July unemployment data. Market observers expect 83,000 new jobs will be created and the unemployment rate is expected to remain stable. These macroeconomic signals are being closely watched to assess their potential impact on cryptocurrency market sentiment and volatility.

Dogecoin ETF Fund Flow and Chain Activities

Despite the recent price setback, dogcoin's on-chain indicators show signs of increasing activity. Ali, a well-known cryptocurrency analyst, pointed out that the number of weekly active addresses in Dogecoin increased from 38,000 to 44,000, an increase of 16%. This shows that participation and transaction volume on the dogcoin blockchain have increased.

Ali particularly emphasized that the number of weekly active addresses increased significantly by 16%, jumping from 38,000 to 44,000, indicating increased participation on the chain.

Meanwhile, investor interest in Dogecoin-related exchange-traded funds (ETFs) appears to be recovering. Data showed that on August 4, the spot dogcoin ETF recorded a net inflow of US$82,640, which was the first positive inflow since July 21. After a period of sluggish ETF activity, the reversal was remarkable.

For the whole of 2026, the Dogecoin Spot ETF has only net inflows in 9 trading days and net outflows in only 2 trading days. The current total net assets of these products are US$10.11 million, and the cumulative net inflow reaches US$12.2 million.

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