Dogecoin ETFs see inflows fade after brief rebound, signaling weak institutional interest.
Dogecoin-backed ETFs experienced a brief surge in inflows on July 21, with $345,130 injected, but daily inflows quickly dropped to zero in the following days. Despite this, ETFs recorded their first positive week since mid-June, totaling $12.12 million in inflows. Meanwhile, Dogecoin's price slightly declined to $0.07, near its lowest since November 2023, while open interest in futures rose to $1.10 billion, indicating growing short positions. This mixed market signals short-term skepticism among investors, though technical indicators suggest a potential longer-term rebound if key support levels hold.
Dogecoin-backed ETFs experienced a brief surge in inflows on July 21, with $345,130 injected, but daily inflows quickly dropped to zero in the following days. Despite this, ETFs recorded their first positive week since mid-June, totaling $12.12 million in inflows. Meanwhile, Dogecoin's price slightly declined to $0.07, near its lowest since November 2023, while open interest in futures rose to $1.10 billion, indicating growing short positions. This mixed market signals short-term skepticism among investors, though technical indicators suggest a potential longer-term rebound if key support levels hold.
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