Investor enthusiasm for Dogecoin exchange-traded funds surges once more, even as the cryptocurrency itself confronts a critical price hurdle.

Dogecoin ETF products pulled in fresh capital through May even as $DOGE price stayed trapped under long-term resistance.

SoSoValue data shows Dogecoin spot ETFs recorded $2.15 million in net inflows between May 1 and May 19. No outflow day appeared during the period.

The inflows are still small compared to larger crypto ETF products, but May is already the strongest month for $DOGE ETFs since January.

$DOGE ETF Flows Recover After Slow Start to 2026

The inflow trend improved in May, following quieter activity earlier in the year. $DOGE ETFs recorded positive flow sessions on May 5, May 6, May 11, May 14, and May 18.

The largest single-day move came on May 18 with $860,958 in net inflows, accounting for roughly 40% of the month’s total additions. The rest of the month showed uneven accumulation instead of constant buying pressure.

Nine trading sessions recorded zero net inflows, including May 20. It seems that the current ETF demand is concentrated around selective buying periods rather than broad daily accumulation.

Despite that, cumulative net inflows continue to rise. $DOGE spot ETFs increased from $9.63 million at the start of May to $11.78 million by May 20. Total net assets rose from $13.19 million to $14.64 million during the same period, even while the $DOGE price weakened.

Grayscale Dominates $DOGE ETF Market

Grayscale’s GDOG holds the strongest position with $10.97 million in cumulative net inflows and $9.97 million in net assets as of May 20. 21Shares’ TDOG followed with $2.19 million in cumulative inflows and $3.99 million in net assets.

Bitwise’s BWOW remains the weakest product in the group. The fund recorded cumulative net outflows of $1.38 million and held just $683.68K in net assets. Also, $DOGE ETFs have posted positive monthly net inflows every month since launching in November 2025.

January remains the strongest month on record with $4.07 million in inflows. April brought in $1.99 million, and May climbed to $2.15 million so far.

$DOGE Price Stays Below Major Resistance

Meanwhile, the weekly $DOGE chart still shows pressure from a long-term descending trendline that started after the late-2024 rally.

At press time, $DOGE trades near $0.105 after rejecting from higher Fibonacci resistance levels earlier in the cycle. The chart shows repeated failures below the 0.382 and 0.5 Fibonacci zones near $0.23 and $0.21.

The bullish case requires $DOGE to reclaim the descending trendline and move back above the $0.13 to $0.16 region. If that happens, the next resistance zones sit near $0.19, $0.23, and $0.25.

Source: TradingView

On the other hand, a breakdown could expose the $0.05 region first, a retest of $0.02 if $0.05 fails to hold.

Related: Dogecoin Price Prediction: Analyst Maps $2 Cycle Target as $DOGE Holds the $0.10 Support Zone