Dogecoin (DOGE) successfully rebounded despite the negative news of the first monthly net outflow from its spot exchange-traded fund (ETF). However, a "death cross" has appeared on the chart, sounding a bearish warning.

As of August 1 (local time), Dogecoin's price rose 1.23% from the previous day to trade at $0.070, marking a slight rebound. According to the overseas crypto media outlet Coingape, the Dogecoin spot ETF recorded a net outflow of $525,980 for the month of July 2026, based on data from SoSoValue. This marks the first monthly net outflow since trading began in November 2025 following approval from the U.S. Securities and Exchange Commission (SEC).

The total assets under management (AUM) of the Dogecoin spot ETF currently stand at $9.96 million, with cumulative net inflows at around $12 million. The Grayscale Dogecoin ETF, the only product to experience fund flows during the same period, accounted for the largest AUM at $6.83 million. Additionally, Coingape reported that Dogecoin and Hyperliquid (HYPE) were the ETFs that recorded net outflows in July, with only a single day of net inflows.

On the technical indicator front, the possibility of a prolonged bearish trend is being raised. Coingape analyzed that a "death cross" has formed on the Dogecoin weekly chart, with the 50-week simple moving average (SMA) falling below the 200-week SMA. The MACD also remains in negative territory, supporting the downtrend.

Coingape added that this is the first time a death cross has appeared on the weekly chart, and that selling pressure could intensify if investor anxiety grows. In particular, it predicted that if Dogecoin closes below the $0.070 support level, there is a possibility of further decline to $0.056, the low reached in October 2023.

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