Red alert: Dogecoin price risky pattern nears as DOGE ETF growth stalls

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Oh, Dogecoin, you had such a good run… and now you’re just crashing harder than my New Year’s resolutions. The price of Dogecoin has plummeted into a technical bear market after a 37% drop from its peak in September. Honestly, I could’ve predicted this from the way my dog looks at me when I try to walk him in the rain.

Dogecoin (DOGE) has dropped to $0.1900, its lowest point since October 12. Now it’s just sitting there with a market cap of $28 billion. You know, pocket change. But here’s the kicker: it’s still a whopping 60% lower than its peak this year. It’s like the crypto equivalent of being ghosted by your ex… but with less closure.

As if that wasn’t bad enough, the crash that led to $365 million in liquidations has left investors in a complete panic spiral. Like, can you blame them? They’ve decided it’s time to sit this one out. Just like I sit out any diet plan involving kale.

For instance, the shiny new REX-Osprey DOGE ETF (DOJE) is seeing inflows slow to a crawl. It currently holds about $31 million, and it’s been stuck at that amount all week. Sure, it’s a sign of demand, but when the market feels like a cold bath, it’s tough to get anyone to jump in. Even with that 1.5% expense ratio! Who’s writing these things? Bill Gates?

Dogecoin price pressure is also mounting thanks to its funding rate-it’s been in the negative zone for the past two days. That’s a sign that people are looking at DOGE like it’s a bad first date. No one’s committing yet.

And get this: the futures open interest has gone from a high of $6 billion in September to a sad $1.92 billion now. Investors are staying on the sidelines, trying not to look at the crypto market the way I look at my overflowing laundry basket.

The only thing that could save Dogecoin at this point? A government shutdown resolution. So basically, if Washington D.C. stops acting like it’s on a never-ending vacation, maybe more DOGE ETF approvals will follow. But that’s like saying your cat will stop knocking things off the counter-highly unlikely.

Dogecoin Price Technical Analysis (Hold On to Your Hats!)

Looking at the daily time frame chart, it’s clear that Dogecoin has been crashing like a bad movie sequel. It formed a rising wedge pattern, and let me tell you, it’s more bearish than my feelings about pineapple pizza. A wedge is made up of two trendlines that are both ascending and getting closer together-kind of like how my patience is with these market crashes.

Now, the DOGE price has dipped below the 50-day and 200-day exponential moving averages. The spread between them is narrowing, so a “death cross” might be coming soon-just in case the name wasn’t ominous enough.

The Relative Strength Index (RSI) has dropped below neutral, and it’s getting close to that oversold level. The Percentage Price Oscillator is also down below the zero line. If you’re still holding onto Dogecoin at this point, congratulations, you’re officially part of the “watching your investment sink” club.

Looking ahead, it seems like the token will keep falling. Sellers are eyeing the year-to-date low of $0.1515, and if it dips below that? Well, it’s probably just going to keep going down, and who knows when it’ll stop. Just like my attempts at cooking dinner.

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2025-10-17 00:25