Dogecoin Price Forecast: Bearish RSI Divergence Signals $0.082 Retest Despite Surging ETF Inflows

Dogecoin (DOGE) price is up by 1.68% today, August 24, to trade at $0.091 at the time of writing. Despite this gain, the weekly chart shows that Dogecoin is creating a bearish RSI divergence that could cause a drop to the support at $0.082. Still, rising inflows to DOGE ETFs suggest that institutional demand is returning despite weakening buy-side pressure.

Dogecoin ETF Inflows Surge to 11-Week High

Data from SoSoValue shows that inflows to Dogecoin ETFs reached $654,000 in the week between August 17 and August 21. This is the highest weekly inflow recorded by the ETFs since June 2026.

DOGE ETFs have now seen $12.29 million in total net inflows since they began trading in November 2025. The total net assets have also reached $12.22 million, per data from SoSoValue.

These inflows coincide with a bullish sentiment in the broader crypto market that pushed the price of Bitcoin to $79,000 on August 21. A previous CoinGape Dogecoin price analysis noted that DOGE could reach $0.12 if Bitcoin moves above the resistance at $80,000.

RSI’s Bearish Divergence Signals Rally Could Weaken

The price of Dogecoin moved from $0.069 on August 19 to $0.10 on August 22. But since then, DOGE has dropped to trade at $0.091 as the traders who purchased during the uptrend sell to take profits.

The RSI reading of 48 now supports a bearish long-term Dogecoin price forecast. This RSI failed to make a higher high despite Dogecoin price gaining by 44% in the three days leading to August 22.

The failure of the RSI reading to move above 50 shows that the weekly momentum has not changed from bearish to bullish.

If selling pressure rises and new buyers become hesitant now that the uptrend is becoming weak, the price of Dogecoin might drop to test support at $0.082.

However, if DOGE defends the support at the middle Bollinger band of $0.087, the uptrend seen last week could resume, and DOGE could reach the upper Bollinger band of $0.115.

Dogecoin’s Futures Data Signals Short Positioning

Data from Coinglass shows that Dogecoin’s long/short reading had dropped to 0.96 at the time of writing. This suggests that long buyers are not chasing the recent gains with aggressive long positions despite the recent uptrend.

One whale on Hyperliquid has even entered a $1.07 million short position on Dogecoin, suggesting that they expect the price to drop. This bearish positioning comes as long positions continue to face liquidations after Dogecoin price reached resistance at $0.10.

CoinGlass data also shows that long liquidations have been more than short liquidations for three straight days, with this causing an increase in selling pressure that is pushing Dogecoin price down.