Dogecoin Price Prediction as Bitwise Shuts Down DOGE ETF Amid Weak Demand

Dogecoin (DOGE) price is dropping after Bitwise announced that it will be shutting down its DOGE ETF (BWOW) after only ten months of trading.

Bitwise is one of the three institutions that offer investors access to Dogecoin ETFs alongside Grayscale and 21Shares.

Dogecoin price is down 1.93% to trade at $0.083 at the time of writing. The drop mirrors the downtrend across the broader crypto market, with Bitcoin (BTC) and Ethereum (ETH) also edging lower after US PPI rose to 5.4% and increased the odds of the Fed hiking interest rates.

Bitwise to Liquidate Dogecoin ETF on October 14

In an announcement, Bitwise said that investors have until October 14 to trade the DOGE ETF, after which the firm will close the fund and distribute cash to investors on October 22.

The asset manager did not give an exact reason behind the decision, but it said the closure is part of its strategy to optimize the range of products that it offers so that it can meet the evolving needs of investors.

Still, the closure comes on the back of weak demand for the ETF, considering that it has seen only one day of inflows since it started trading in November 2025.

The Dogecoin ETF has also seen $687,000 in net assets since launch and recorded $5,920 in volume on September 10.

The same weak demand is seen across all the three Dogecoin ETFs that trade in the US. Per SoSoValue, these ETFs have not seen any positive inflows since September 3. The ETFs have also seen $343,000 in outflows so far in September 2026.

Open Interest Falls Amid Selling Pressure

Data from CoinGlass shows that Dogecoin’s open interest has dropped from $1.41 billion to $1.26 billion at the time of writing.

The drop comes amid a surge in long liquidations, with CoinGlass also showing that long liquidations have outpaced short liquidations for six straight days since September 6, amid concerns that the Fed will hike interest rates.

Long liquidations force investors to sell to close their positions. This additional selling pressure has led to an increase in spot outflows for the last three straight days, per CoinGlass data.

Dogecoin Price Tests Crucial Support Level as Bearish Momentum Strengthens

Dogecoin price has dropped to test the support at $0.083. This support price has previously attracted either buyers or sellers, depending on the sentiment across the broader market.

If Dogecoin price drops below this support, the price could move to the psychological support at $0.080.

The AO bars that are negative and growing in length support a bearish long-term Dogecoin price outlook. These bars suggest that the bearish momentum is becoming strong as the selling pressure increases.

However, the RSI line that has moved from 30 to 35 suggests that Dogecoin price is recovering from being oversold. If this RSI prints higher lows and crosses above 50, it could support a move above the support at $0.083 to the resistance at $0.089.