Dogecoin ETFs Attract $2M Inflows; Key Levels Identified

Dogecoin (DOGE) has experienced a volatile month, with an initial 22% drop followed by a 9% rise, bringing the price to approximately $0.1493. Notably, new DOGE ETFs such as Grayscale's GDOG and Bitwise's GWOW have seen significant inflows, with GDOG reaching $3.8 million in net assets and GWOW at $2.48 million.

DOGE ETFs recorded zero flows on November 28 but had $1.8 million on November 25 and $365K on November 26.
Bitcoin ETFs reported over $71 million in inflows on November 28, indicating stronger demand compared to DOGE.

Key Levels for DOGE

Support at $0.08, identified as a heavy cost basis cluster.
Resistance at $0.20, aligned with supply held by long-term holders.

DOGE Price Analysis

The weekly chart shows DOGE within a descending structure, maintaining support along its base. The Bollinger Bands indicate potential for a bounce, with RSI near the lower half. A break above the trendline could target the $0.20 zone, possibly leading to higher levels.

DOGE weekly chart with momentum indicators | Source: TradingView

According to analysis, DOGE follows a cycle of accumulation and subsequent price waves. If maintained, this pattern could push DOGE toward $0.80. However, a drop below $0.08 would disrupt this structure, indicating a long reset phase.