Dogecoin’s price has continued to fall ahead of the launch of the GDOG ETF on Monday. The token has dropped for four straight weeks and is now at its lowest level since April. It has fallen more than 70% from its December high.
Grayscale will introduce the GDOG ETF this week, with more Dogecoin ETFs from other issuers expected soon. These products will give U.S. investors a way to gain exposure to Dogecoin without holding the token directly.
However, demand for similar ETFs has been weak. The REX-Osprey DOGE ETF, launched in September, has only $24 million in assets. Litecoin’s ETF has attracted just $7 million, showing limited institutional interest in proof-of-work altcoins.
Dogecoin also lacks recent bullish catalysts. Its futures open interest has dropped to about $1.1 billion, down sharply from this year’s peak of $6 billion.
The price has declined from $0.3075 in September to about $0.1423. This level has acted as support several times since March and aligns with a key Fibonacci retracement level. If the support breaks, DOGE could fall toward $0.10. A rebound would require a move back above $0.3075, the neckline of a possible triple-bottom pattern.
