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Following
DOGE In the past 24 hours, Goucoin's spot network traffic has increased significantly. Coinglass data showed its net spot flow surged 116% to $558,210. The change comes as the broader cryptocurrency market faced selling pressure at the end of July.
July ended with losses and intensified market volatility
On July 31, Dogecoin fell to a low of US$0.068, closing the month with a daily decline of 1.42%. The asset fell 28.25% throughout July, remaining in negative territory for the second consecutive month since April.
In the past 24 hours, the total spot inflow of Dogecoin was US$30.83 million, and the total outflow was US$30.27 million. The resulting net flow increased by 116.32%, indicating a significant change in trader behavior. Spot inflows usually mean that tokens are transferred to an exchange and may be ready for sale, while outflows are usually associated with withdrawing tokens for storage or holding, sometimes indicating accumulation.
As July ends, dogcoin is not the only cryptocurrency to fall back. Markets 'reaction to hawkish signals from the U.S. Federal Reserve has weakened hopes of a recent rebound in cryptocurrencies.
Bearish sentiment and futures market data
Despite a moderate recovery on the first day of August, with Dogecoin rising 0.47% to US$0.069, with a weekly gain of 0.63%, the futures market still showed a bearish pattern. The long-short volume ratio of active buyers is still biased towards short positions, reflecting a continued downward trend.
Analysts commented that the market may be entering a period of increased volatility as investors weigh the continued uncertainty posed by future U.S. interest rate actions. This lack of clarity may continue to put pressure on risky assets in the short term, limiting continued gains in the cryptocurrency sector.
Except for August 2021 (up 34.29% in the month) and August 2025 (up 1.77% at the end of the month), Dogecoin closed down in other August months in the past.
Regulatory uncertainty and August outlook
Regulatory delays in the United States, such as the stagnation of progress on the Clarification Act, have also put pressure on cryptocurrency market sentiment. Market observers point out that regulatory clarity may accelerate the adoption of round-the-clock trading and settlement practices common in the digital asset space, thereby promoting greater integration with traditional financial systems.
Analysts said investors may remain cautious ahead of next week's U.S. jobs report. After the Federal Reserve's latest meeting, the report was seen as the next key macroeconomic event.
In this environment, the mainstream expectation is that Dogecoin and most digital assets will show a sideways and potentially volatile trend in August. Historical data shows that Dogecoin tends to close down in August, reinforcing this month's conservative outlook.
