According to Sosovalue data, the trio of Dogecoin ETFs, Grayscale, 21shares and Bitwise saw $0 in daily net inflows.
This is not far from the recent trend as, since Feb. 3, the Dogecoin ETFs recorded zero daily net inflows but saw minor trading, with total value traded ranging between $150,000 and $1.37 million in this time frame.
This trend repeated for most of December and January. Except for a few days that saw net inflows, punctuated by outflows as well, the spot ETFs saw $0 in daily net inflows.
Dogecoin ETFs took off on a slow start shortly after launch. For instance, Grayscale’s spot Dogecoin ETF (GDOG) debuted with $1.4 million in trading volume, much lower than analysts’ expectations and falling below the demand seen for major cryptocurrencies.
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At the year’s start, sentiment briefly flipped as Dogecoin and meme coins led a sharp bounce across crypto assets, with the 2x Dogecoin ETF outperforming other ETFs.
However, the price rally at the year’s start quickly reversed, with Dogecoin trading at multimonth lows.
Dogecoin fell for five straight months since September 2025 and has marked the first two months of 2026 in losses. That backdrop has bled into ETFs as well.
The bigger macro setup is that when Bitcoin stays range-bound, and when majors drop, speculative flows tend to spill over into meme coins as they do not require a macro catalyst to trade, but when sentiment shifts, meme coins are hit the hardest.
Dogecoin price
The weekend rally faded as major cryptocurrencies declined on Monday. At the time of writing, Dogecoin was down 3.99% in the last 24 hours to $0.092. If it declines further, sellers might seek to pull the Dogecoin price below the $0.09 support. If this is done, Dogecoin may retest the Feb. 6 low of $0.0799.
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A strong rebound suggests potential range formation with Dogecoin trading sideways between $0.08 and $0.12 for some time.
Buyers might return to the driver’s seat if Dogecoin rises above $0.12. This would open the pathway to a rise to $0.16.