Dogecoin (DOGE) price is up by 2.2% today, July 3, to trade at $0.074 at the time of writing with $706 million in trading volumes. The gains come despite spot DOGE ETFs recording $871,000 in outflows on July 2 after President Trump disclosed that he received $635 million in royalties from his TRUMP meme coin.
Institutional Investors Exit Dogecoin Positions After Trump’s Meme Coin Gains
Data from SoSoValue shows that outflows from spot DOGE ETFs reached $871,000 on July 2. This is the highest outflow that Dogecoin ETFs have seen since December 2024 and the second-highest since they started trading in November 2025.
Outflows from ETF products usually suggest that institutions are selling and this comes after President Trump revealed that he received $635 million in royalties from the TRUMP meme coin that he launched in January 2025.
This disclosure fuelled concerns that regulators might crack down on meme coins to protect investors because people who bought TRUMP in 2025 have made massive losses after the price dropped by 97% from the January 2025 high of $75.
It also made the odds of CLARITY Act passing this year to drop to 39% with Senator Elizabeth Warren saying that President Trump and his family need to be stopped from benefiting from crypto.
Dogecoin Price Makes U-Shaped Recovery Despite ETF Outflows
The outflows from spot Dogecoin ETFs have not pulled DOGE down because the bullish sentiment from the broader crypto market is attracting retail buyers.
DOGE price has moved from $0.069 on June 30 to $0.075 on July 3. This gain has created a U-Shaped pattern that usually suggests that bulls are tightening their grip.
DOGE needs to move above the resistance of $0.076 to confirm that the bullish long-term Dogecoin price outlook suggested by the rounded bottom pattern plays out.
If Dogecoin moves past $0.076 and makes three straight closes above that price, a 9% gain could occur and push DOGE to $0.083.
The CMF reading of 0.16 suggests that buying pressure is more than the selling pressure and this could push Dogecoin towards the target of the double bottom pattern of $0.083.
However, the ADX line that is dropping signals caution because it suggests that the uptrend that pushed Dogecoin from $0.069 on June 30 to $0.075 on July 3 is becoming weak.
If the outflows from Dogecoin ETFs continue and retail buyers start selling to take profits after the recent gains, Dogecoin price could drop to the June 30 low of $0.069.
Funding Rate Soars as Long Bets Surge
Dogecoin’s funding rate that has increased to 0.0098%, shows that traders are opening long positions on DOGE price as they ignore the ongoing outflows from ETFs.
This funding rate of 0.0098% is at the highest point since April 15 and that shows that the demand for long positions is at the highest level in three months.
The open interest has also increased from $941 million on June 28 to $1.04 million on July 3. This OI is rising alongside the price and it supports the thesis that long buyers are betting that the price of Dogecoin will keep rising as the broader market recovers.