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DOGE Overview of key points
Dogecoin formed an hourly "dead fork" for the first time in August, strengthening bearish momentum, and the price hovered at a key support level around US$0.068.
Although there are limited active trading days in the 2026 trading session, the number of weekly active addresses of Dogecoin has climbed by 16%, while spot ETF funds have returned, indicating that market participation is still there.
Traders are paying close attention to the US$0.068 support level and the US$0.073 to US$0.08 resistance level, as macroeconomic data will affect broader cryptocurrency market sentiment.
Dogecoin showed its first "dead fork" in August, and the bearish signal strengthened
Dogecoin showed its first "dead fork" in August on the hourly chart-the 50-hour moving average line crosses the 200-hour moving average line downward. This adds another bearish technical signal to the recent decline in meme and strengthens the weak momentum that has been suppressing DOGE since early August.
This latest development comes just weeks after Dogecoin completed its first weekly "dead fork" since 2023. The weekly "dead fork" is a longer-term signal that has previously appeared with a period of long-term low prices, which has also further increased the market's attention to the current trend of the token.
As of press time, DOGE was trading at approximately US$0.068, down 1.78% in the past 24 hours and 2.03% in the past week. In addition, the meme has only closed up for one trading day since August, reflecting continued selling pressure in the market, and traders are closely watching whether current support can prevent further price declines.
Support and resistance levels become the focus
Market participants are paying close attention to the support area of US$0.068, where Dogecoin is trying to stabilize. If we can successfully hold this price, it may slow down the recent decline and attract buyers to enter. However, once a decisive break below this level, it may strengthen bearish momentum. At the same time, resistance is between US$0.073 and US$0.08. Recovering this range will improve short-term technical prospects and signal new buying interest.
In addition to chart signals, investors are also paying attention to the broader financial markets, waiting for the release of the latest U.S. non-farm payrolls report and July unemployment data. These data may affect the risk appetite of the cryptocurrency market and affect short-term trading activity. Despite the pressure on prices, blockchain activity has shown the opposite trend.
According to cryptocurrency analyst Ali, the number of weekly active addresses in Dogecoin increased by 16%, from about 38,000 to 44,000, indicating that despite the weakness of the market, online participation has increased.
ETF funds are returning, despite limited buying trading days
According to SoValue data, spot dogcoin exchange-traded funds (ETFs) recorded a net inflow of US$82,640 on August 4, the first positive inflow since July 21, indicating a rebound in institutional interest.
Although the spot DOGE ETF only recorded net inflows in 9 trading days throughout 2026, net outflows were only recorded in 2 trading days during the same period. The total net assets of these funds have reached US$10.11 million, with cumulative net inflows of US$12.2 million.
The recovery in ETF demand and rising Internet activity are in contrast to the recent price decline. Therefore, investors will focus on whether these indicators can translate into stronger market support as technical aspects begin to improve.
Conclusion
Dogecoin's first "dead fork" in August added another bearish signal to its already cautious technical side. Still, rising online activity and the return of ETF funds suggest that investor engagement remains even as prices struggle. Traders will next focus on whether DOGE can hold key support levels, while the broader market environment will determine its next step.
