Bitwise closes DOGE ETF as sellers pressure price near $0.08
Dogecoin (DOGE)
Editor:
Eugene Serbin
tradersunion.com reports that Dogecoin drifted near $0.08 after shedding more than 10% over the past week. Investors pulled back as sentiment shifted around crypto-linked ETFs, with sellers maintaining pressure on the setup. Bitwise Asset Management announced on September 10, 2026, that it will liquidate and close its spot Dogecoin ETF, BWOW.
The fund held under $1 million in assets as of early September, falling short of competing altcoin ETFs. This upcoming withdrawal has amplified questions about institutional appetite for regulated DOGE products. On the daily chart, price sits below the 20-day moving average at $0.08535.
The CCI and Stochastic RSI are both in the oversold zone, indicating stretched downside conditions. The ADX at 31.93253 signals ongoing trend strength with 12.61% volatility. Nearest resistance is set by the 20-day moving average at $0.08535, with additional resistance at the Ichimoku Kijun at $0.0896.
Support is close by at $0.07889. For the next 7 days, Dogecoin is expected to trade within a range of $0.07453 to $0.09572. The probability of a decrease stands at 65%, versus a 35% chance of a rise.
How the market reacted
Whalio's own Binance spot order flow for DOGE, measured when this story was written up on 16 September 2026. Not the outlet's figures.
Whalio data shows Dogecoin trading at $0.08008 with a 1-hour buy ratio of 41.0% and a 4-hour buy ratio of 52.2%. The 24-hour buy ratio sits at 46.7%, indicating that short-term selling pressure is currently outpacing buying interest compared to the broader daily trend. A negative 1-hour volume delta of -$213,082 suggests immediate sellers are dominating the flow, while the 4-hour delta of +$432,295 shows some accumulation over a slightly longer timeframe. The 24-hour volume delta of -$4,418,972 and a CVD of -$2,646,051 confirm that net selling pressure has been the dominant force over the last day. This means that more capital has been used to sell DOGE than to buy it in the recent session. Spot volume reached $67,922,185 with 601,422 trades recorded in the last 24 hours.
The latest daily buy ratio of 37.6% sits at the 0th percentile of the last 322 days, against a median of 48.9% - among the weakest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for DOGE, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 48.7%, compared to a 24-hour ratio of 46.7%, showing a slight decrease in buying sentiment. Volume was 1.22x the average, indicating that trading activity was unusually high compared to typical days. The price changed by -11.1% over eight days, with a total volume delta of -$10,010,372. This week saw only 3 days of net buying out of 7, suggesting a generally bearish trend. The current 24-hour volume relative to the weekly average highlights that recent trading activity has been significantly elevated. This level of volume combined with negative deltas suggests an unusual day for the coin as it consolidates near support.