Dogecoin Forms First August Death Cross as Bearish Signals Strengthen

What to Know

• Dogecoin formed its first August hourly death cross, reinforcing bearish momentum as prices hovered near key support around $0.068 level.
• Weekly active Dogecoin addresses climbed 16% while spot ETF inflows returned despite limited positive trading sessions during 2026, reflecting participation.
• Traders are watching $0.068 support and $0.073 to $0.08 resistance as macroeconomic data shapes broader cryptocurrency market sentiment.

Dogecoin has registered its first August death cross on the hourly chart after the 50-hour moving average crossed below the 200-hour moving average, adding another bearish technical signal as the meme coin extends its recent decline and reinforcing weakening momentum that has weighed on DOGE since early August.

The latest development comes only weeks after Dogecoin completed its first weekly death cross since 2023, a longer-term signal that previously coincided with an extended period of subdued price action and has placed additional attention on the token’s current trend.

DOGE traded near $0.068 at the time of writing, down 1.78% over the past 24 hours and 2.03% during the past week. Moreover, the meme coin has recorded only one positive trading session since August began, reflecting persistent selling pressure across the market as traders remain focused on whether current support levels can prevent another leg lower.

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Support and resistance levels take center stage

Market participants are closely watching the $0.068 support zone as Dogecoin attempts to stabilize, with a successful hold potentially slowing the recent decline and attracting buyers. However, a decisive break below that level could strengthen bearish momentum. Meanwhile, resistance remains between $0.073 and $0.08, and reclaiming that range would improve the short-term technical outlook while signaling renewed buying interest.

Besides the chart signals, investors are monitoring broader financial markets before the release of the latest U.S. nonfarm payrolls report and July unemployment data, as those figures could influence risk appetite across cryptocurrencies and affect short-term trading activity. Even with prices under pressure, blockchain activity has moved in the opposite direction. According to crypto analyst Ali, weekly active Dogecoin addresses increased by 16%, rising from approximately 38,000 to 44,000, indicating stronger network participation despite the ongoing market weakness.

ETF inflows return despite limited buying sessions

According to SoSoValue, spot Dogecoin exchange-traded funds recorded net inflows of $82,640 on August 4, marking their first positive flow since July 21 and signaling a modest improvement in institutional interest.

Although spot DOGE ETFs have registered only nine net inflow sessions throughout 2026, they have experienced just two days of net outflows over the same period. Total net assets across those funds have reached $10.11 million, while cumulative net inflows stand at $12.20 million.

The combination of renewed ETF demand and higher network activity contrasts with the recent price decline. Consequently, investors will watch whether those indicators translate into stronger market support if technical conditions begin to improve.

Conclusion

Dogecoin’s first August death cross has added another bearish signal to an already cautious technical outlook. Nevertheless, rising network activity and renewed ETF inflows suggest investor participation remains intact even as prices struggle. Traders will now monitor whether DOGE can defend key support while broader market conditions determine its next direction.

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The post Dogecoin Forms First August Death Cross as Bearish Signals Strengthen appeared first on 36Crypto.