Key Takeaways
Dogecoin price drops 10.07% amid profit-taking after recent ETF-driven gains
Technical breakdown below $0.25 support triggered automated selling pressure
ETF inflows underwhelm, dampening short-term bullish momentum post-launch
ETF Hype Fades as Traders Take Profits
DOGE had surged 46% over the past 90 days, driven by excitement over the launch of the first spot Dogecoin ETF on September 19, 2025. However, momentum quickly reversed after the ETF’s debut at $28.15 saw muted institutional inflows.
Short-term traders used the event as an exit point, triggering broad sell pressure. A 24-hour turnover ratio of 12.8% signals heavy profit-taking near recent highs.
Technical Breakdown Triggers Sell-Off
DOGE's Fibonacci 38.2% retracement level ($0.267) flipped from support to resistance, adding to the bearish tone.
Technical indicators weakened across the board: RSI14 slipped to 54.94, nearing neutral territory, and the MACD histogram turned slightly negative at -0.00003, signaling fading upward momentum.
Leveraged Liquidations Magnify Downside
DOGE futures saw a 17.65% rise in open interest leading into the correction, but as prices broke below $0.24, heavily margined positions were wiped out. According to Coinglass, DOGE ranked 5th in 24h liquidations, with a total of $61.29 million in both long and short positions liquidated.
DOGE Outlook: What to Watch
While the recent drop reflects short-term positioning and technical weakness, the long-term DOGE ETF narrative could still attract investor interest. For now, traders are watching to see if $0.282 (23.6% Fib level) can hold amid increased volatility and rising volume.
