Dogecoin Price Forecast as Whales Scoop 240M DOGE and ETF Inflows Return

Dogecoin (DOGE) price is dropping today alongside the broader crypto market as bearish pressure from the CLARITY Act setback and the FOMC meeting surges.

DOGE was down by 4% to trade at $0.079 at the time of writing. Bitcoin (BTC) and Ethereum (ETH) were also down by 0.8% and 1.6%, respectively.

Dogecoin’s drop comes despite recent purchases by whale addresses and a return of inflows to DOGE ETFs.

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Whales Purchase 240M DOGE Within One Week

Analyst Ali Martinez noted that addresses that hold a large amount of Dogecoin purchased 240 million more DOGE tokens between September 9 and September 14.

The purchases came despite Dogecoin price dropping from $0.091 to $0.081 during the same period, suggesting that they used the drop to purchase more coins at a cheaper price.

Still, these whale purchases did not offset the selling pressure. Data from CoinGlass shows that there were $39 million more spot outflows than inflows into Dogecoin between September 9 and September 14.

These rising outflows suggest that selling pressure is higher than the buying pressure, and this has pushed Dogecoin price to its lowest point since August 20.

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Spot Dogecoin ETF Inflows Return

Data from SoSoValue shows that inflows to Dogecoin ETFs reached $248,510 on September 16. These inflows came from the Grayscale Dogecoin Trust ETF (GDOG).

The Bitwise Dogecoin ETF that will shut down in October, and the TDOG ETF by 21Shares did not receive any inflows.

Dogecoin was one of the only four crypto ETFs alongside Solana (SOL), Tron (TRX), and Hedera (HBAR) that recorded inflows on September 16.

All crypto ETFs that trade in the US saw outflows of nearly $600 million on September 16, with this being the biggest single-day outflow seen by these ETFs since June 2026 because of concerns around the US Senate failing to pass the CLARITY Act bill.

Dogecoin Price Drops Below 50-day EMA Support

The price of Dogecoin has dropped below the support at the 50-day EMA of $0.081. This drop suggests that the short-term trend has changed from a bullish one to a bearish one.

The drop has also pushed Dogecoin price below the support of a descending triangle channel. If DOGE closes below this support for three straight days, the price might drop by 14% and reach $0.069.

The RSI reading of 42 supports a bearish long-term Dogecoin price forecast. The RSI line that is also tipping south also shows that bears are tightening their grip on price.

Dogecoin will confirm a bullish reversal if it moves above the resistance at $0.086. Closing above this resistance at $0.086 could push Dogecoin price to the 200-day EMA of $0.093.