Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO
Unlock full access to global stock IPO
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
More
- Technical Outlook: Can Dogecoin Maintain the Recovery?
Dogecoin is trading at $0.1300 at the time of writing this report on Friday, with the 50-day, 100-day, and 200-day exponential moving averages (EMA) trending downward, confirming a bearish trend. The Moving Average Convergence Divergence (MACD) indicator on the daily chart shows a slight negative bias, as evidenced by the blue MACD line remaining below the signal line.
A break above the 50-day EMA at $1.544 could open the door for further gains above the 100-day EMA at $0.1745 and the 200-day EMA at $0.1909. The Relative Strength Index (RSI) on the same chart has risen to 38, indicating a slowdown in bearish momentum.
Daily chart of the DOGE/USD pair
However, the downward trendline from $0.3063 limits gains, with resistance at $0.1561. A daily close below the support level at $0.1205 could accelerate the bearish move toward October’s low at $0.0931.
Interest in Dogecoin has dropped significantly since the sudden crash on October 10, with open interest in futures contracts decreasing by approximately 71% to $1.21 billion on Friday from $4.4 billion.
The meme coin has experienced steady growth in open trading volume, reaching $6 billion on September 14. This rise coincided with an increase in trading volume, as its price surged to $0.3068 from $0.1298 in April, confirming the role of retail markets in driving value growth. However, with a notable decline in open trading volume, it may be challenging for Dogecoin to sustain this recovery.
Open interest in Dogecoin | Source: Coin Glass
Meanwhile, institutional interest in Dogecoin ETFs( has waned. According to SoSoValue data, these funds have not recorded any cash flows since December 10, when inflows reached $172,000.
The total net inflow of funds has amounted to $205 million, with net assets of $4.96 million. There are two US-licensed exchange-traded funds (ETFs) for Dogecoin), namely GDOG by Grayscale and BWOW by Bitwise.
Dogecoin ETF statistics | Source: SoSoValue