Dogecoin recorded approximately $57.2 million in net spot outflows over seven days while DOGE fell nearly 9%. The figures do not show who moved the coins, and Bitwise is set to end trading in its Dogecoin ETF on October 14.
Dogecoin recorded approximately $57.2 million in net spot outflows over seven days, as DOGE fell nearly 9% during the week. The data comes from CoinGlass.
Exchange outflows exceed inflows
CoinGlass reported $538.16 million in outflows against $480.96 million in inflows for the period. Market participants sometimes interpret sustained exchange outflows as a possible indication that investors intend to hold their coins.
However, the reported figures do not identify the owners of the transferred assets or establish their reasons for moving them. The suggestion that Dogecoin whales are accumulating during the price decline therefore remains unconfirmed.
Price slips to $0.085
Dogecoin traded around $0.085 on October 11, down 8.9% over the preceding seven days, according to CoinGecko. U.Today reported that the token fell to a low of $0.081 on October 8 before rebounding.
Earlier in October, DOGE had traded closer to $0.0955 before renewed selling pressure pushed it lower.
Analyst outlines recovery levels
Analyst Giannis Andreou suggested that DOGE could develop a recovery pattern if its price stabilizes between $0.082 and $0.087. He identified a move above $0.092–$0.095 as the first stronger confirmation of improving market conditions.
He also warned that a decline below $0.0795 would invalidate the current technical setup. The targets are chart-based possibilities, not confirmed future prices.
Bitwise Dogecoin ETF closes October 14
According to a September 10 SEC filing, Bitwise plans to end trading in its Dogecoin ETF, ticker BWOW, on October 14. Shareholders who keep their positions will receive cash based on the fund's net asset value calculated on October 21, with distribution expected on October 22.
The filing does not establish that the liquidation caused Dogecoin's latest price decline or the reported $57.2 million in net spot outflows.
Sources: crypto.news, U.Today
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