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- Dogecoin extends gains on Monday after finding support around the key 200-day EMA.
- US-listed spot ETFs recorded inflows of $327,360 last week, marking the third consecutive week of inflows.
- Strengthening derivatives metrics and a constructive technical outlook support further gains for DOGE.
Dogecoin (DOGE) extends its gains, trading above $0.096 on Monday after finding support around the key support zone last week. Continued inflows into spot DOGE Exchange Traded Funds (ETFs), alongside strengthening derivatives metrics, indicate improving market sentiment. Meanwhile, the constructive technical outlook suggests the meme coin could extend its gains if the key level holds.
DOGE’s institutional demand remains robust
SoSoValue data showed spot ETFs recorded $327,360 last week, marking the third straight week of inflows and indicating strong institutional demand. If this inflow trend continues, stays positive and intensifies through the week, the dog-themed meme coin could extend gains.
Improving derivatives positioning among DOGE traders
Derivatives data shows a bullish outlook for DOGE. CoinGlass’ long-to-short ratio for DOGE reads 1.01 on Monday, flipping into green territory. A ratio above one indicates bullish sentiment, as traders bet that asset prices will rise.
In addition, Dogecoin’s funding rate flipped positive on September 10 and rose to 0.0092% on Monday. This indicates longs are paying shorts, reflecting a bullish outlook for Dogecoin.
Dogecoin technical outlook: 200-day EMA holds strong
Dogecoin price trades around $0.096 on Monday, maintaining a bullish near-term bias as it holds above the 200-day exponential moving average (EMA) at $0.093, with the shorter 50-day and 100-day EMAs clustered between roughly $0.086 and $0.088.
The Relative Strength Index (RSI) near 58 suggests constructive but not overextended momentum. At the same time, the Moving Average Convergence Divergence (MACD) has slipped marginally into negative territory, hinting at a mild loss of upside pressure rather than a decisive trend change.
On the downside, immediate support is at the 200-day EMA near $0.093, with additional demand at the horizontal level of $0.088 and the nearby 50-day EMA at $0.088; deeper support emerges at the 100-day EMA around $0.086, ahead of the more distant structural floors at $0.070.
On the topside, initial resistance is defined by the horizontal barrier at $0.102, and a sustained move above this cap would open the way for a continuation of the broader recovery phase.
