Dogecoin stumbles as ETF inflows dry up

T. Rowe Price launched its first active crypto ETF on July 16, allocating 1.28% of its portfolio to Dogecoin. While Bloomberg analyst Eric Balchunas noted that the inclusion grants the meme coin a degree of institutional recognition, the move has failed to spark a broader demand surge. The asset manager, which oversees approximately $1.8 trillion, committed $15 million in seed capital to the fund, yet the DOGE position remains modest at roughly $192,000.

Technically, the token faces mounting pressure. The daily chart displays a descending triangle pattern, with the price hovering near horizontal support at $0.0711. Momentum indicators, including an Average Directional Index of 32.81, suggest that the current bearish trend retains significant strength. If the price fails to hold the $0.0711 floor, analysts anticipate potential slides toward $0.070 and $0.068. To reverse this trajectory, DOGE would need to break above the $0.0755 resistance level to challenge recent highs.