Dogecoin fell about 4% to $0.079 on September 17, breaking below its 50-day EMA support at $0.081 amid a broader crypto market decline. Bitcoin slipped 0.8% and Ethereum dropped 1.6% after the US Senate failed to pass the CLARITY Act, a bill aimed at regulating the crypto industry. That legislative setback triggered nearly $600 million in outflows from US-traded crypto ETFs on September 16 — the largest single-day outflow since June 2026.
Despite the downward pressure, large Dogecoin holders were actively accumulating. Whale addresses holding at least 100 million DOGE bought 240 million tokens between September 9 and September 14, according to Santiment. Their total holdings now stand at nearly 19 billion DOGE, roughly 12.18% of the total supply. Crypto analyst Ali Martinez pointed to a major on-chain support zone at $0.0813, where approximately 35 billion DOGE previously changed hands. “As long as this level holds, the bullish setup remains intact, with $0.1552 and $0.1774 as the next upside targets,” Martinez said.
CoinGlass data showed $39 million more in spot outflows than inflows between September 9 and 14, meaning overall selling pressure outweighed whale purchases during that period. Trader Tardigrade noted that Dogecoin has consolidated at a floor level three times before — in 2015, 2019, and 2022 — and each time was followed by a major price increase. He described the current setup as a third historical floor pattern rather than speculation.
On the ETF side, Dogecoin recorded $248,510 in inflows on September 16, all from the Grayscale Dogecoin Trust. The Bitwise DOGE ETF, set to close in October, and the 21Shares TDOG ETF received no inflows. DOGE was one of only four crypto assets to record ETF inflows that day, alongside Solana, Tron, and Hedera. Technically, DOGE has broken below its 50-day EMA and the lower boundary of a descending triangle. A close below that level for three consecutive days could open the door to $0.069. The RSI sits at 42, and a move above $0.086 would be needed to flip the short-term trend back to bullish, with the 200-day EMA at $0.093 as the next target above. Over the past 30 days, DOGE is still up 14.53%.