Dogecoin has faced significant selling pressure in October, with the token declining 14% to around $0.0824 after spending the first week of the month near $0.095. The price fell sharply starting October 7 and has continued sliding, interrupted only by a brief recovery attempt on October 12 when DOGE rose to $0.088 before falling back to $0.080 the following day.
Spot Dogecoin ETFs have not recorded inflows at any point this month. From October 1 to 9, the funds saw no movement, followed by outflows totaling approximately $540,000 over two consecutive days—$400,000 on October 12 and $138,570 on October 13. Total net assets in spot DOGE ETFs declined from near $17 million at the start of October to $14.44 million.
Technical indicators reflected the downward momentum. The Relative Strength Index fell below its signal line, supporting the price decline, while the Chaikin Money Flow dropped to -0.30 after reaching near -0.90 the previous day.
Futures markets painted a more nuanced picture. Open Interest peaked at roughly $652 million on October 12 before falling to $598 million on October 13 and then recovering modestly to $609 million. Despite these declines, funding rates remained positive at 0.0088%, indicating that traders holding long positions continued paying shorts—a sign that some bullish exposure persisted despite the price weakness.
The $0.080 level has emerged as a critical support point. A break below this level could trigger further declines, particularly if Open Interest continues to weaken.
