Interest in Dogecoin's (DOGE) price outlook is growing amid news of the closure of Bitwise's Dogecoin exchange-traded fund (ETF). The futures market is also showing signs of weakening investment demand as open interest declines. As of the morning of the 11st, Korean time, Dogecoin was trading at $0.086 according to CoinMarketCap.

■ Bitwise Dogecoin ETF to Close One Year After Launch

Bitwise has decided to close its Dogecoin ETF 'BWOW,' launched in November 2025 (local time), according to a report by overseas crypto media outlet CoinGape. The product is scheduled to cease operations on October 14 (local time), roughly one year after its launch.

Bitwise CEO Hunter Horsley described the closure decision as "tragic." Horsley explained that the weak demand for the Dogecoin ETF illustrates the difference between ETF investors and those trading Dogecoin on cryptocurrency exchanges. He said, "These ETFs failed to produce any results. ETF investors did not want to put money into Dogecoin. However, this situation could change over time."

■ Fund Inflows Virtually Halted, Confirming Weak Demand

Indeed, inflows into BWOW proved extremely weak. According to SoSoValue data cited by CoinGape, BWOW recorded no new inflows after August 24 (local time). Since trading began in November 2025 (local time), there was only a single day of net inflows.

The picture is similar across all Dogecoin ETFs. CoinGape reported that no new inflows into Dogecoin ETFs have occurred since early October (local time), indicating weak demand for related investment products.

■ Open Interest Falls by 1.39 Billion DOGE in Two Days

The futures market is also showing a declining trend in investment demand. According to CoinGlass data cited by CoinGape, Dogecoin's open interest fell from 16.57 billion DOGE on October 8 (local time) to 15.18 billion DOGE as of the time of writing — a drop of 1.39 billion DOGE in just two days.

CoinGape analyzed that this decline suggests demand for Dogecoin futures products is weakening as investors reduce their risk exposure.

Rising selling pressure is also contributing to the decline in open interest. CoinGape previously reported that selling pressure on Dogecoin was increasing. With liquidation volumes also rising, excessively accumulated leverage positions are being unwound, the report explained. According to CoinGlass data, Dogecoin has recorded over $35 million in liquidations since October 7 (local time). Notably, investors in long positions betting on a price rise suffered the largest losses.

■ Technical Analysis: Potential Rise to $0.092 Raised

Although investment demand in the futures market is weakening, CoinGape, based on technical analysis, suggested the possibility of Dogecoin rising toward $0.092.

According to CoinGape, Dogecoin filled the fair value gap (FVG) formed when it dropped from $0.087 to $0.082 on October 8 (local time). Dogecoin then moved above the midpoint of that FVG zone and is now testing whether this price level acts as support. CoinGape analyzed that if Dogecoin holds this support level, it can be interpreted as a signal that the uptrend is strengthening further. It then projected that if further gains materialize, Dogecoin could rise to $0.092, the midpoint of the second FVG zone.

Technical indicators were also analyzed as supporting this upside potential. CoinGape noted that on the Awesome Oscillator (AO), green bars are shrinking in length while remaining in negative territory. This movement is said to support the outlook for Dogecoin rising to $0.092.

However, some analysis says the uptrend cannot yet be considered firmly established. CoinGape pointed out that the Relative Strength Index (RSI) still indicates weak upward momentum. For Dogecoin's uptrend to continue, buying pressure needs to strengthen further. Ultimately, while CoinGape presented the possibility of Dogecoin rising toward $0.092, it concluded that given the current weak momentum, additional buying is necessary.

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