05:12
DOGE ETF Faces Lukewarm Reception: Institutional Sell-Off Pressure Mounts, $0.1470 Becomes Key Support Level
Dogecoin (DOGE) declined again in the latest trading session, as the optimism brought by the ETF frenzy failed to reverse the weak market structure. Although 21Shares and Grayscale have successively filed for spot DOGE ETFs, briefly boosting network activity, the price still broke through key support levels, indicating that technical selling is dominating the trend.
On-chain data shows that active DOGE addresses once rose to 71,589, the highest level since September, reflecting increased user participation. However, whale transactions remain sluggish, and there has been no significant ETF-related capital inflow. The sharp contrast between improving fundamentals and weak prices highlights the impact of declining market risk appetite.
DOGE-3.03%
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