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Dogecoin exchange-traded funds (ETFs) have returned to a stagnant phase after recording a day of $345,130 in inflow this week.
According to recent data from SoSoValue, Dogecoin ETFs saw $0 in daily total net inflow on July 24. The same was seen on July 22 and 23 when $0 was recorded in daily net inflow.
This was not entirely the narrative this week, as Dogecoin saw a day of inflow on July 21 when it recorded $345,130. This marked a brief break from the zero-inflow streak seen since July 6, with all days recording $0 in inflows.
Zero-flow days are not unusual for newer or lesser-volume crypto ETFs, particularly those tracking assets beyond Bitcoin and Ethereum.
Dogecoin has crossed $12 million in cumulative total net inflow, despite the lull in inflows. According to SoSoValue, Dogecoin ETFs' cumulative total net inflow stood at $12.12 million as of July 24.
Dogecoin is also marking its first positive week of inflows since the week ending June 18, recording a weekly inflow of $345,130.
Dogecoin signals remain mixed
At the time of writing, Dogecoin was trading down with the rest of the crypto market, down 0.17% in the last 24 hours to $0.07.
DOGE futures open interest is in the green, currently at $1.10 billion. DOGE's spot price remains under pressure after falling to its lowest since November 2023 on Thursday.
The combination of rising open interest alongside a price drop might signal trader interest in shorting the declining market.
Meanwhile, a widely watched signal indicates optimism. According to crypto analyst Ali, the TD Sequential has flashed a buy signal on the monthly chart just as DOGE approaches a major support level around $0.056. If that support holds, a rebound toward $0.16 may be on the cards, with the top of the channel near $0.45 as the broader upside target.
Dan Burgin
U.Today Editorial Team
