Dogecoin's spot net flow rose 116% in the last 24 hours, turning positive as the crypto market saw selling at July's close. The token fell to a low of $0.068 before ending July 31 down 1.42%, capping a month in which it lost 28.25% overall. Traders are now watching whether the shift in flows points to renewed buying or just a pause in the selling.
Spot flows turn positive
Dogecoin's spot net flow rose 116% in the last 24 hours, according to Coinglass data, as the crypto market saw selling at July's close. The token fell to a low of $0.068 before closing July 31 down 1.42%.
In that same 24-hour window, Dogecoin recorded spot inflows of $30.83 million against outflows of $30.27 million, producing a net flow of $558,210 – an increase of 116.32%. A rise in spot inflow might point to coins moving onto exchanges, possibly to sell, while rising outflows might suggest withdrawals, indicative of buying.
A second red month since April
The move followed a rough close to July for Dogecoin and the wider crypto market. Hawkish comments from the Federal Reserve committee dulled hopes of a crypto recovery, and Dogecoin ended July down 28.25%, marking its second red month since April.
What's next for Dogecoin
Dogecoin showed mild signs of recovery on August 1, up 0.47% to $0.069 and up 0.63% for the week, according to CoinMarketCap data. Still, the broader outlook stays cautious: according to analysts, "a new volatility regime" may be setting in as investors weigh interest rate expectations, which could keep pressure on risk assets until the economic picture clears.
Delays to U.S. market-structure legislation, including the Clarity Act, might also weigh on sentiment, though clearer rules could help traditional finance move toward 24/7 trading, a shift seen as positive for digital assets. Bitfinex analysts expect investors to stay cautious ahead of next week's US jobs report, the next major macro event after the Fed meeting.
The base case is a choppy August with prices stuck in a range. The month has historically been bearish for Dogecoin, which has closed every August in the red except 2021, when it gained 34.29%, and 2025, when it rose 1.77%.
Source: U.Today
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