Dogecoin traded at $0.09 on March 10 after posting gains for two straight days this week, recovering modestly from this month’s low of $0.087. The move came even as demand for spot DOGE exchange-traded funds faded sharply.
Data cited in the report showed that Grayscale’s GDOG, 21Shares’ TDOG, and Bitwise’s BWOW have attracted more than $7.45 million in inflows, with net assets reaching $8.97 million. Even so, those funds added only $779,000 this month and recorded no inflows over the last five consecutive days. For comparison, spot Solana ETFs have brought in $955 million since launch and $21 million this month.
Volume and derivatives activity pick up
ETF demand has softened, but trading activity has improved. CoinGlass data showed Dogecoin’s spot and futures volume climbed to more than $2.6 billion on Tuesday, extending gains for a third straight day. On Sunday, that figure stood at $1.4 billion.
Futures open interest also held above the $1.2 billion level. At the same time, the weighted funding rate turned positive, a sign that derivatives traders were leaning toward a rebound. That shift does not confirm a breakout on its own. It does show that speculative positioning has become more constructive.
Chart structure points to $0.147 target
On the daily chart, DOGE appears to have formed a double-bottom-like pattern around $0.0877, the lowest area reached in both February and March. The neckline of that structure sits at $0.1170, which marked the highest swing on Feb. 15 this year.
Using the standard double-bottom method, the pattern height is calculated by subtracting the bottom from the neckline, or roughly $0.03. Adding that distance to the neckline gives a target near $0.1470. That level is about 50% above the current price.
Other technical indicators were also cited as supportive. The Relative Strength Index rose to the neutral 50 level, while the MACD moved closer to the zero line. If DOGE clears $0.1170, the next technical focus would shift to the $0.1470 area implied by the pattern.