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Dogecoin Updates Today: Optimism Grows for Dogecoin ETF Amid Death Cross and Investor Outflow Signaling Potential Decline

Dogecoin Updates Today: Optimism Grows for Dogecoin ETF Amid Death Cross and Investor Outflow Signaling Potential Decline

Bitget-RWA2025/11/07 08:32
By:Bitget-RWA

- Bitwise's Spot Dogecoin ETF (BWOW) nears SEC approval after filing an 8(a) form, potentially launching within 20 days under 2025's streamlined crypto ETF framework. - DOGE trades near $0.15 support with mixed technical signals: on-chain accumulation contrasts with 5.9% weekly losses and a looming "death cross" threatening $0.17 support. - ETF optimism clashes with holder exodus (-22M DOGE outflow on Oct 31), raising doubts about sustainability of current price levels amid growing institutional competitio

The Spot

ETF, created by Bitwise Asset Management, is nearing its debut in the United States after the company filed an 8(a) form with the Securities and Exchange Commission (SEC). This step indicates that the ETF, set to trade under the symbol "BWOW," could go live in as little as 20 days unless the SEC steps in, as reported by . This development follows a regulatory update from September 2025 that simplified the approval process for crypto ETFs, requiring the underlying asset to have an established futures market. Dogecoin (DOGE) qualifies, having maintained a regulated futures market for more than half a year.

News of the ETF’s possible launch has fueled positive sentiment among investors, especially as

is trading close to a historically significant support level at $0.15. This price area has often served as a “buy the dip” zone, with previous recoveries sometimes doubling the price. Blockchain data also points to accumulation, with notable supply concentrations between $0.177 and $0.179 acting as a short-term support. Still, technical signals are mixed. Over the past week, the cryptocurrency has dropped 5.9%, and it is down nearly 27% for the month, with long-term holders continuing to sell, according to . Glassnode data shows a dramatic shift in holder activity, moving from an inflow of +8.2 million DOGE to an outflow of –22 million DOGE on October 31 alone. This pattern raises doubts about the durability of the current support zone.

One key technical factor is the impending “death cross,” where the 100-day exponential moving average (EMA) is set to fall below the 200-day EMA. Unlike the earlier crossover in October, this bearish pattern suggests ongoing weakness and could hasten a drop below $0.17, potentially opening the way to $0.14. Traders are closely monitoring whether DOGE can maintain support in the $0.1575–$0.1615 range as excitement over the ETF grows, as highlighted in

. If the price closes above $0.1674, it would indicate a short-term bullish , with targets between $0.172 and $0.180—an area that aligns with previous supply before the recent breakdown.

Bitwise’s ETF application has drawn significant institutional attention, reflecting a broader transformation in the digital asset market. This comes after the launch of DOJE, the first U.S.

ETF by Rex-Osprey in September 2025. Bitwise’s move signals intensifying competition and greater institutional acceptance, especially after the firm updated its ETF proposal in June 2025 to allow for “in-kind” redemptions—a feature preferred by major investors, as previously reported by Live News. Experts suggest that the ETF’s success could encourage more capital to flow into the crypto sector, particularly as regulations become more favorable toward digital assets.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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