Dogecoin Hits Multi-Month Lows as Exchange Flows Turn Bullish
Crypto markets remain under pressure as Bitcoin’s looming “Death Cross” and risk-off sentiment weigh on altcoins. Dogecoin (DOGE), however, saw a notable shift: exchange flows turned positive for the first time in months—a signal that historically appears near market bottoms. Analyst Ali Martinez notes that similar inflection points in prior cycles often preceded reversible capitulation phases.
DOGE dropped 7.4% over the past 24 hours, falling from $0.160 to $0.149 and breaking the critical $0.155 support that had anchored its prior consolidation. Trading volume surged 18% above weekly averages to 177.9 million tokens, highlighting institutional activity rather than retail panic.
The decline pierced the 0.5 Fibonacci retracement from the prior bull cycle and pushed the price into the lower boundary of DOGE’s year-long descending triangle. After testing multiple intraday floors, the token stabilized near $0.149–$0.151. Technical indicators are mixed: RSI shows bullish divergence against fresh lows, while short-lived MACD death crosses suggest temporary exhaustion in downward momentum.
Key Technical and Market Signals
DOGE now sits at a pivotal junction between confirming the breakdown and potential reversal. The collapse below $0.155 completes the descending-triangle pattern, projecting a possible continuation toward $0.145–$0.140. However, several bullish counter-signals are emerging:
- Whale Accumulation: Large wallets absorbed over 4.7 billion DOGE during the decline, signaling strong hands entering the market.
- Positive Exchange Flows: Net inflows flipped positive for the first time in months, historically a signal of tradable bottoms.
Momentum indicators support this divergence. RSI continues climbing despite lower price lows, and MACD bearish signals are fading, creating a setup where technical breakdowns clash with early reversal signals from on-chain activity.
Price Outlook
DOGE is likely to remain range-bound between $0.149 support and $0.158 resistance until ETF catalysts or macro sentiment provide a decisive move. Traders are watching several key factors:
- Section 8(a) DOGE ETF Deadline (Monday): A surprise approval could trigger immediate repricing.
- Reclaim of $0.155: Necessary to negate near-term bearish bias and target $0.162–$0.165.
- Failure at $0.150: Could accelerate the decline toward $0.115–$0.085 demand zones.
- Exchange Flow Direction: Continued positive net inflows would strengthen the reversal thesis.
- Macro Sentiment: Extreme fear across BTC and altcoins may trigger sharp relief rallies but also increases downside risk.
As DOGE approaches the apex of its multi-year descending triangle, the combination of ETF catalysts and on-chain accumulation creates a high-risk, high-reward scenario for directional traders
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