Dogecoin price hits key support level as demand for Wall Street ETF disappears
July 18, 2026
new allocation by T. Rowe Price, existing Dogecoin ETFs have not seen any fresh capital inflows for a full month. This lack of interest and investment in Dogecoin ETFs has coincided with a significant drop in the price of Dogecoin, which has fallen by 54% since its peak in January. The current price of Dogecoin at $0.071 has brought it back to a support level that has been defended by buyers since late June.
The lack of interest in Dogecoin ETFs is evident in the data from SoSoValue, which shows that there have been no new investments in U.S. Dogecoin ETFs between June 17 and July 17. Despite T. Rowe Price’s new active crypto fund that includes Dogecoin, there have been net outflows of $871,000 in July. This lack of demand has been reflected in the overall meme coin sector, which has experienced a sell-off of $1.2 billion during the same period.
T. Rowe Price’s decision to include Dogecoin in its new actively managed cryptocurrency ETF on July 16 was a significant move. With the asset manager overseeing $1.8 trillion and providing $15 million in seed capital to the fund, Dogecoin received a 1.28% weighting in the portfolio. This amounted to approximately 2.6 million DOGE, worth around $192,000. Bloomberg ETF analyst Eric Balchunas noted that T. Rowe Price’s inclusion of Dogecoin alongside larger cryptocurrencies like Bitcoin and Ethereum has brought a level of recognition to the meme coin within the Wall Street community.
Despite the new exposure and allocation by T. Rowe Price, Dogecoin’s price remains under pressure. The daily chart shows a descending triangle pattern with lower highs pushing the price towards horizontal support at $0.071. Unless Dogecoin can break above the falling trendline and the resistance level at $0.0755, the bearish trend is likely to continue. Momentum readings on the daily chart favor sellers, with the Average Directional Index indicating that the current trend remains strong.
On the 4-hour chart, indicators such as the MACD line, the Relative Strength Index, and support levels suggest that Dogecoin’s price could further decline if it breaks below the $0.0711 support level. Liquidation heatmaps show concentrated liquidity at different price points, indicating potential areas of buying or selling interest for traders.
Overall, despite the exposure and recognition received from T. Rowe Price’s active crypto fund, Dogecoin’s price and demand have yet to see a significant revival. The lack of fresh capital inflows into Dogecoin ETFs and the continued bearish trend in its price indicate a challenging period for the meme coin in the near term.
