Dogecoin Price Under Pressure After DOGE ETFs Record Their Second-Largest Outflows in History
Dogecoin Price Rises Despite ETF Outflows Following Trump’s Meme Coin Royalty Disclosure
Dogecoin (DOGE) climbed 2.2% on July 3, trading at $0.074 at the time of writing, with trading volume reaching $706 million. The gains came even as spot DOGE ETFs recorded $871,000 in net outflows on July 2, after U.S. President Donald Trump disclosed that he had received $635 million in royalties from the TRUMP meme coin.
Institutional Investors Reduce Dogecoin Exposure After Trump’s Meme Coin Royalty Disclosure
According to SoSoValue, spot Dogecoin ETFs recorded net outflows of $871,000 on July 2. This marked the largest outflow since December 2024 and the second-largest since the ETFs began trading in November 2025.
ETF outflows typically indicate that institutional investors are reducing their holdings. The selling pressure emerged after President Donald Trump revealed that he had earned $635 million in royalties from the TRUMP meme coin, which was launched in January 2025.
The disclosure sparked concerns that regulators could tighten oversight of meme coins to better protect investors. Many investors who purchased the TRUMP token in 2025 have suffered significant losses after its price plunged about 97% from its January 2025 peak of $75.
Meanwhile, the probability of the CLARITY Act being passed this year fell to 39%, after Senator Elizabeth Warren argued that Trump and his family should be prevented from profiting from the cryptocurrency industry.
Dogecoin Price Recovers Despite ETF Outflows
Despite continued outflows from Dogecoin ETFs, DOGE has managed to recover. Positive sentiment across the broader cryptocurrency market continues to attract retail investors.
DOGE has risen from $0.069 on June 30 to $0.075 on July 3. The move has formed a U-shaped recovery pattern, which is generally viewed as a bullish signal indicating strengthening buying momentum.
To confirm a longer-term bullish outlook, DOGE needs to break above the $0.076 resistance level, which would validate the rounded bottom pattern.
If DOGE successfully breaks above $0.076 and closes above that level for three consecutive sessions, the price could gain around 9% and climb toward $0.083.
Meanwhile, the Chaikin Money Flow (CMF) indicator remains at 0.16, suggesting buying pressure continues to outweigh selling pressure and supporting the potential move toward the $0.083 target.
However, the weakening Average Directional Index (ADX) signals that bullish momentum is beginning to fade. If ETF outflows persist and retail investors begin taking profits, DOGE could retreat to its June 30 low of $0.069.
Funding Rate Rises as Long Positions Increase
Meanwhile, Dogecoin’s funding rate has climbed to 0.0098%, indicating that more traders are opening long positions despite ongoing ETF outflows.
The funding rate has reached its highest level since April 15, suggesting demand for long positions is at its strongest level in the past three months.
In addition, Dogecoin’s open interest increased from $941 million on June 28 to approximately $1.04 billion on July 3. Rising open interest alongside higher prices suggests that market participants remain optimistic that Dogecoin will continue to appreciate as the broader cryptocurrency market recovers.
