Dogecoin Completes First August Death Cross: What to Watch Closely?

Dogecoin’s first death cross occurred on the short-term charts in August: the 50 MA (moving average) fell below the 200 MA on the hourly chart. Dogecoin has fallen since August 3, as momentum slowed.

The price drop follows as Dogecoin completed its first weekly death cross since 2023 in late July, which historically preceded stagnant price action for the dog coin.

So far, Dogecoin has seen one green day since August began, with losses increasing at press time. Dogecoin is currently down 1.78% in the last 24 hours to $0.068 and down 2.03% weekly, with price set to mark the fourth day of losses since August 3.

A test of the $0.068 support level will be watched as price drops; in the event of a price rebound, resistance is in the $0.073 to $0.08 range.

The crypto market is seeing mixed action on Thursday as investors gear up for Friday’s nonfarm payrolls data and unemployment rate for July—which is forecast to show an increase of 83,000 jobs and unemployment unchanged.

Dogecoin news

In a recent boost for the dog-themed coin, Ali, a crypto analyst, reported weekly active $DOGE addresses jumped 16%, from 38,000 to 44,000, indicating a sharp increase in on-chain activity.

In addition, Dogecoin ETF inflows seem to be making a comeback. On August 4, spot $DOGE ETFs recorded their first day of net inflows since July 21, with $82,640 reported by SoSoValue.

In 2026, spot $DOGE ETFs have recorded just 9 days of net inflows. While this sounds bearish, the products have also seen just two days of net outflows this year. The total net assets in Dogecoin ETFs have hit $10.11 million, while cumulative net inflow is at $12.20 million.