Dogecoin price drops as demand for Wall Street ETF disappears
July 18, 2026
Dogecoin’s price has experienced a 3.17% decline to $0.071 on July 17, with its exchange-traded funds failing to attract any new capital between June 17 and July 17. This lack of fresh inflows has led to a stagnation in demand for Dogecoin ETFs, indicating a potential shift in investor sentiment towards the meme cryptocurrency.
The prolonged selling pressure on Dogecoin has caused it to dip below the critical support level of $0.091 in recent weeks. Currently hovering around $0.072, Dogecoin finds itself teetering just above a significant weekly demand zone that has historically sparked buying interest during past corrections. The memecoin’s current position underscores a crucial juncture where buyers may be able to trigger a reversal in its downward trend.
Despite the subdued demand for Dogecoin ETFs and the broader downtrend in its price, there is potential for a turnaround if buyers can capitalize on the prevailing market conditions. With Dogecoin testing its long-term support around $0.07, the focus is now on whether the cryptocurrency can uphold its position above this level. The monthly chart reveals a key invalidation point at $0.0613, signaling a critical zone for monitoring price movements.
Derivatives data has not yet provided a clear indication of a bullish confirmation for Dogecoin, further emphasizing the importance of current support levels and buyer participation in the market. Traders are closely monitoring whether Dogecoin will successfully defend its long-term trendline near $0.07, as a breach of this level could indicate further weakness in the meme coin’s price.
As Dogecoin nears its yearly low and remains susceptible to additional losses, the technical outlook suggests a continued correction if crucial support levels are breached. With weak market sentiment and institutional demand showing little interest in Dogecoin, the path ahead for the cryptocurrency appears challenging. The inability of buyers to generate momentum for a meaningful recovery has kept Dogecoin below key resistance levels, restricting its ability to break free from the broader downturn.
In conclusion, Dogecoin’s current consolidation phase and the lack of fresh capital inflows into its ETFs highlight the ongoing struggle facing the meme cryptocurrency. While the market awaits a potential trend reversal triggered by buyers defending critical support zones, the overall sentiment remains cautious amidst prevailing market conditions. Traders and investors are closely monitoring Dogecoin’s price movements and key technical levels to gauge the cryptocurrency’s future trajectory.
