Dogecoin's Initial ETF Debuts with No Inflows: Is a Further Sell-Off Imminent?
Grayscale Dogecoin ETF Launch: Grayscale's Dogecoin ETF (GDOG) launched with zero first-day inflows, raising concerns about the market's potential decline towards $0.13, despite secondary trading volume reaching $1.41 million.
Market Conditions: The crypto investment sector is experiencing significant outflows, with nearly $2 billion withdrawn weekly, and over 100 single-token ETFs expected to enter the market soon.
Dogecoin Price Trends: Dogecoin's price is in a downtrend, currently at $0.144, facing resistance between $0.147 and $0.170, with bearish indicators suggesting continued selling pressure.
Future Outlook: For a bullish shift, Dogecoin needs to close above $0.150 and break the trendline towards $0.157, while support levels are identified between $0.141 and $0.144.
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