Bitwise’s BWOW ETF Shutdown Puts DOGE’s $0.08 Support at Risk

• Bitwise is shutting down its Dogecoin ETF, BWOW, but the fund is relatively small.
• DOGE is testing key support near $0.08 after failing to hold above $0.0855.
• A break below $0.08 could send DOGE toward the next major target near $0.0695.

Dogecoin is under selling pressure as Bitwise announced it will shut down its Dogecoin ETF, BWOW. DOGE is already struggling to stay above $0.0855.

Bitwise announced on September 10 that it would liquidate and close BWOW to simplify its product lineup and better meet investor needs. The ETF’s last trading day on the NYSE Arca will be October 14, with the remaining funds to be paid to shareholders around October 22.

The closure comes less than a year after BWOW launched. Bitwise introduced the ETF on November 26, 2025, to give investors exposure to Dogecoin without directly owning DOGE.

BWOW Shutdown Raises Questions About Dogecoin Demand

The closure of BWOW suggests low institutional interest in Dogecoin. Specifically, the fund has a negative cumulative flow of $1.23 million and total assets of $690,490.

Meanwhile, Bitwise did not say that weak demand or poor performance caused the closure. Instead, the company said it was closing the fund to improve its product lineup and meet changing investor needs.

Other Dogecoin ETFs in the U.S. are still operating. The 21Shares Dogecoin ETF, TDOG, has about $2.54 million in assets as of today. Meanwhile, the Grayscale DOGE ETF has around $11.8 million.

Source: SoSoValue

DOGE Tests Key Support Near $0.08

The main concern for Dogecoin traders is its price. DOGE is currently trading around $0.0843 after failing to stay above $0.0855. The price had earlier moved close to $0.09 but was rejected, pushing DOGE back toward the lower end of its recent range.

The $0.082–$0.084 area is an important support zone. If DOGE falls below this level, the price could drop toward the key $0.08 level.

For DOGE to recover, it needs to move back above $0.0855. If it does, $0.09 could become the next target. However, if DOGE breaks below $0.082–$0.083, it could signal more downside ahead.

$0.0695 Could Be the Next Major Target

If DOGE falls below its current support levels, the price could drop much further. The chart shows $0.0695 as the next major support level. A strong break below $0.08 could bring DOGE’s previous summer lows back into focus.

Source: TradingView

DOGE has fallen toward $0.069 before, so this level is a realistic target if selling pressure increases. However, the closure of BWOW alone is unlikely to cause such a large drop. The key levels to watch are:

• $0.082–$0.084: Important support zone.
• $0.0855: Breaking above this could help DOGE move toward $0.09.
• $0.09: A break above this level would weaken the bearish outlook.
• $0.08: Losing this level could lead to a deeper decline.
• $0.0695: The next major downside target.

Overall, Bitwise closing BWOW is negative for Dogecoin’s institutional image, but the fund is small. DOGE’s next major move will likely depend more on its price levels and the wider crypto market than on BWOW’s closure.

Related: Can Dogecoin Reach $0.12 as Bitcoin Drives the Next Crypto Liquidity Cycle?