Dogecoin ETFs See Record Inflows While Price Slips
Dogecoin (DOGE)
Editor:
Eugene Serbin
Dogecoin’s price is falling even as ETFs record their highest weekly inflows since November 2025, according to cvj.ai. Inflows reached $2.89 million between September 21 and 25, driven largely by Grayscale Dogecoin Trust, which saw $3.48 million in inflows. Conversely, 21Shares Dogecoin ETF recorded $593,000 in outflows, while Bitwise Dogecoin ETF had no inflows as it prepares to shut down on October 14.
Total net assets for these products now stand at $17.03 million, representing just 0.11% of Dogecoin’s $16.6 billion market cap. The price briefly touched $0.10 before retreating to $0.097, a level maintained despite the positive institutional data. Market sentiment appears divided, with the long/short ratio dropping to 0.87, indicating more short accounts than long ones.
This bearish positioning suggests traders are betting on further declines despite the ETF demand. The divergence between institutional buying and speculative shorting highlights a complex market dynamic. Low weekend buy volumes have exacerbated the price drop, showing recovery fragility. The coming weeks will determine if ETF inflows can overcome the bearish sentiment among short-term traders.
How the market reacted
Whalio's own Binance spot order flow for DOGE, measured when this story was written up on 26 September 2026. Not the outlet's figures.
DOGE is trading at $0.09897 with a 1-hour buy ratio of 33.3% and a 4-hour buy ratio of 44.0%, both below the 51.8% seen over 24 hours. This indicates that buying pressure is fading in the short term relative to the daily average. The 1-hour volume delta is negative at -$361,113, and the 4-hour delta is -$619,087, showing that sellers are currently dominating recent trades. A negative volume delta means that the volume of sells exceeds the volume of buys, pushing the price down. While the 24-hour volume delta is positive at +$3,702,759, the immediate trend shows a shift toward selling. The spot volume for the last 24 hours was $104,142,521 across 921,783 trades.
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 50.2%, with net buying occurring on 4 of the 7 days. The latest day’s buy ratio was 1.6 percentage points higher than the weekly average, suggesting a slight improvement in buying interest. However, the spot volume was only 0.70x the weekly average, indicating lower trading activity than usual. This volume level suggests the day is quieter than typical, despite the slight uptick in the buy ratio. The price increased by 13.1% over the 8-day period, with a total volume delta of +$25,644,221. This recent performance contrasts with the immediate selling pressure seen in the latest hourly data.