Dogecoin price stayed under pressure this week as the wider crypto market continued to fall. The meme coin traded near $0.1200, down more than 60% from its September high, as investors shifted money into safer assets like gold and silver.
Despite the weakness, technical charts show a possible bullish setup. Dogecoin has formed a double-bottom pattern at $0.1162, a level that has acted as strong support in recent weeks. The neckline of this pattern sits near $0.1560.
Market demand for Dogecoin has slowed. Data from SoSoValue shows that spot DOGE ETFs from Grayscale, Bitwise, and 21Shares recorded no new inflows in the past two days. These funds added only $4 million this month and now hold $10.9 million in total assets.
Trading activity in these ETFs also remains low. Daily trading volume was around $170,000, showing limited interest from investors. Compared to other altcoin ETFs, Dogecoin funds continue to lag behind.
For comparison, spot Chainlink ETFs have attracted over $73 million in inflows. Spot XRP and Solana ETFs have seen much stronger demand, with inflows of $1.26 billion and $884 million, respectively.
Dogecoin also lacks a strong catalyst. In the past, price rallies were often driven by social media hype or comments from Elon Musk. These drivers have been mostly absent in recent months.
Derivatives data paints a cautious picture as well. CoinGlass data shows futures open interest fell to $1.4 billion from a yearly high of $2 billion. Trading volume in the futures market has also dropped to about $1 billion in the last 24 hours.
From a technical view, Dogecoin remains in a downtrend but shows signs of stabilization. As long as the price stays above $0.1162, a rebound toward $0.200 is possible. A clear drop below this support would weaken the outlook and could push the price closer to $0.100.
