DOGE Breaks $0.12 As ETF Flows Dry Up

• Dogecoin breaks below $0.12 and tests the long term ascending trendline from 2024 as spot outflows hit $10.88 million on January 30.
• DOGE ETFs show zero daily inflows with total net assets at just $10.15 million, lagging far behind XRP and Solana funds.
• Recovery requires reclaiming $0.1268, while a close below the trendline near $0.11 opens downside toward $0.08.

Dogecoin price today trades near $0.1128 after breaking below the $0.12 level and testing a critical long term trendline that has supported the token since mid 2024. The move comes as ETF flows stall completely and spot outflows persist, leaving DOGE without a catalyst to reverse months of selling pressure.

ETF Demand Fails To Materialize

The Dogecoin ETF story has not delivered the demand bulls expected. Data from SoSoValue shows zero inflows across all three DOGE spot ETFs on January 29, with total net assets sitting at just $10.15 million. Cumulative inflows since launch stand at $6.41 million, a fraction of what competing altcoin funds have attracted.

For comparison, spot XRP ETFs have pulled in $1.26 billion in inflows while Solana funds have gathered $884 million. Even Chainlink ETFs, a smaller market, have accumulated $73 million with $86 million in assets under management.

The disparity reflects a broader lack of institutional interest in DOGE. Without fresh demand from ETF channels, price remains dependent on retail sentiment and spot market flows.

Spot Outflows Continue As Sellers Distribute

Coinglass data shows $10.88 million in net outflows on January 30, extending a pattern of distribution that has persisted through much of the past two months. The consistent selling pressure suggests holders continue to reduce exposure rather than accumulate at lower levels.

DOGE has lacked a meaningful catalyst since the meme coin rally faded in late 2024. Elon Musk, whose posts historically sparked sharp moves in the token, has remained quiet on Dogecoin. Without that narrative driver or broader crypto market strength, sellers have maintained control of price action.

Long Term Trendline Test Puts Structure At Risk

On the daily chart, Dogecoin trades below all four major EMAs with a bearish structure intact. The 20 day EMA sits at $0.1268, the 50 day at $0.1347, the 100 day at $0.1498, and the 200 day at $0.1708. The Supertrend indicator remains bearish at $0.1344.

Price now tests the ascending trendline drawn from the July 2024 lows near $0.09. This trendline has supported DOGE through multiple corrections, and a decisive break below it would shift the macro structure from consolidation to breakdown.

The descending trendline from September 2024 continues to cap rallies, creating a narrowing wedge pattern. Price sits near the apex of that wedge, meaning a resolution in either direction should come within the next several sessions.

Intraday Momentum Remains Weak

On the 30 minute chart, DOGE shows a clear downtrend with lower highs since January 28. The descending trendline has rejected every bounce attempt, and the latest session pushed price below $0.1130.

RSI sits at 31.32, approaching oversold territory but not yet at levels that typically trigger a reversal. MACD remains negative with the histogram showing continued bearish momentum.

Key intraday resistance sits at the descending trendline near $0.1145. Bulls need a break above that level to signal any short term stabilization. Support rests at $0.1120, with the long term trendline providing the last defense before a deeper move lower.

Outlook: Will Dogecoin Go Up?

The trend remains bearish while price trades below the EMA cluster and ETF demand stays absent.

• Bullish case: A daily close above $0.1268 would reclaim the 20 day EMA and signal the first sign of trend reversal. That move would require improving flows and ideally a catalyst such as renewed Musk engagement or broader meme coin rotation.
• Bearish case: A close below the long term trendline near $0.11 would confirm a macro breakdown and expose the $0.08 to $0.09 demand zone. Without ETF inflows or spot accumulation, that scenario remains the path of least resistance.