Dogecoin faces $57M in outflows as price struggles near $0.085

CoinGlass data indicates that while $480.96 million flowed into exchanges, $538.16 million departed, leaving a net negative balance. While some market participants interpret these exchange exits as a move toward private custody, the data does not confirm specific whale activity or long-term holdings. The selling pressure mirrors a broader downturn across digital asset markets, where investment funds tracking various cryptocurrencies saw over $1 billion in withdrawals during the same window.

Technical outlooks remain cautious. Analyst Giannis Andreou notes that the asset must stabilize between $0.082 and $0.087 to establish a support base. A move reclaiming the $0.092 to $0.095 range is considered necessary to signal a potential recovery toward $0.117. Conversely, a drop below $0.0795 would invalidate these current bullish technical patterns.

Adding to the uncertainty, Bitwise is set to terminate its Dogecoin ETF on October 14. The fund, which launched in late 2025, will liquidate its holdings and distribute cash to shareholders by October 22. While this closure removes a regulated investment vehicle from the market, there is no direct evidence linking the liquidation to the current price volatility or the recent surge in exchange outflows.