Dogecoin breaks below $0.093: the BWOW fund turns every DOGE into cash on October 14

Dogecoin is trading at $0.0914 on the evening of Friday, October 2, 2026. That is 3.4 percent below the level of 24 hours earlier, and within those 24 hours the range ran from $0.0978 down to $0.0905. The $0.093 mark, which had capped the downside the day before, did not hold. More important than that daily move are two dates, both falling on October 14: in New York a US fund will stop trading Dogecoin and sell its entire holding, and in Berlin the German federal cabinet takes up a bill that abolishes the one-year holding period for purchases made from 2027 onwards.

Dogecoin price now: $0.0914 with a daily range from $0.0905 to $0.0978

According to CoinGecko data, one Dogecoin costs $0.0914, or 0.0812 euros, on Friday evening. The daily loss stands at 3.4 percent, and over a week it comes to 6.3 percent. The monthly comparison looks friendlier: over 30 days the token is up 12.3 percent. Over a year it remains down 64.7 percent.

Market capitalisation is $14.28 billion on a circulating supply of 156.16 billion tokens. Trading turnover over the past 24 hours adds up to $1.07 billion. The ratio of turnover to market value is therefore around 7.5 percent, a figure that is normal for a memecoin of this size and signals no panic.

Circulating supply: why Dogecoin has no maximum

Unlike Bitcoin, Dogecoin has no upper limit. The protocol issues 10,000 new tokens per block, around 5 billion a year. On 156.16 billion tokens in circulation that amounts to annual dilution of roughly 3.2 percent. This number is the reason a flat Dogecoin price already means a slight loss in real terms: the cake grows, the market value does not automatically grow with it.

The BWOW fund stops trading on October 14 and sells its Dogecoin

Bitwise Investment Advisers announced in a mandatory filing to the US Securities and Exchange Commission on September 10, 2026 that it would wind down the Bitwise Dogecoin ETF. The fund trades on NYSE Arca under the ticker BWOW. According to that filing the last trading day is Wednesday, October 14, 2026. On exactly that day the fund converts its Dogecoin holding into cash. No new shares will be issued before the market opens on October 15.

Bitwise explains the step as part of continuously adapting its own product range to changing investor needs. The firm makes no statement about the Dogecoin price in the filing. The fund had been on the market for less than a year.

Conversion into cash means a sell order, not a market view

What matters for the order book is that the conversion into cash is a genuine sale. The fund has to part with its holding regardless of where the price stands on the day. How much weight that carries depends on the size of the fund relative to the daily turnover of the whole market. On daily turnover of $1.07 billion a fund of this order of magnitude does not move the needle, as long as the selling is spread across the day. A date on which a seller is obliged to sell does, however, regularly attract market participants who position themselves ahead of it.

On October 22 the net asset value of October 21 is paid out in cash to shareholders

Anyone holding shares beyond the last trading day does not get them redeemed in kind but paid out. The filing names two dates for this: the valuation record date is October 21, 2026, and payment follows on October 22, 2026. What counts is the net asset value of the shares on the record date, payment is made in cash, and shareholders need to do nothing to receive it. The particulars are set out in the fund's mandatory filing with the SEC.

For investors in Germany this fund has little practical significance, because US products of this kind are not regularly offered there. Anyone holding Dogecoin through an exchange-traded product almost always holds a European ETP or ETN, and none of those is affected by the wind-down. Which routes exist in Germany, and how ETPs, ETNs and direct purchases differ, is set out in the overview of crypto ETFs in Germany. We already reported on the date itself on October 1, then with an eye on the $0.098 mark; the payout dates were not yet the focus at that point.

Two dates on October 14: fund wind-down in New York, cabinet session in Berlin

That both dates coincide is a matter of chance, but for a German holder the Berlin half of the day is the more important one. While the US fund is being wound down, the German federal cabinet is due to take up the finance ministry's draft bill on the taxation of crypto assets held as private wealth. According to reports by BTC-Echo the draft has already gone out to the industry associations; comments are only possible until October 6, 2026.

A cabinet decision is not a law. The Bundestag and the Bundesrat follow after it, and the cabinet can also amend a draft or postpone it. Anyone making a decision today is therefore making it on the basis of a draft, not on the basis of law in force.

The holding period ends for purchases from January 1, 2027

The core of the draft concerns the one-year period. Today the rule is this: anyone who holds Dogecoin for longer than a year and then sells pays no income tax on the gain, because it counts as a private disposal under Section 23 of the German Income Tax Act. Under the draft that classification would fall away. Gains from crypto assets would then be capital income and taxable irrespective of the holding period, which would bring the 25 percent withholding tax plus the solidarity surcharge into play.

The cut-off date is decisive. The new rule is intended to apply only to crypto assets acquired after December 31, 2026. Holdings bought up to December 31, 2026 keep their existing treatment including the one-year period under the draft. What counts is therefore the purchase date, not the sale date. BTC-Echo has summarised the particulars of the draft.

From this follows a task that has nothing to do with the price: your own purchase date has to be provable. Anyone who has built positions across several exchanges and years needs a clean transaction history for that, and needs it before the exchange archives an old account. Which tools merge that history and calculate in line with FIFO is shown by the comparison of crypto tax software and portfolio trackers. That is no substitute for tax advice, and neither is this article.

Staking and lending become capital income under the draft

The draft reaches beyond the plain sale. Income from staking and lending is also to be classified as capital income. Dogecoin itself has no staking, because the network runs on proof of work and is attached to Litecoin through merged mining. Anyone who does lend out tokens on a platform for interest, however, falls under this rule.

A second point concerns the mechanics: from 2028 crypto service providers are to be able to withhold the tax automatically. That shifts the mechanism towards the share account, where the bank remits the withholding tax. For holders it means that choosing a service provider will in future carry a tax dimension as well. Until then the declaration remains the investor's own business.

Support at $0.0905: the next target on the upside is $0.0978

The two points at which trading turned over the past 24 hours are at the same time the nearest marks. On the downside the daily low of $0.0905 is the first line; if it gives way, there is no holding zone derivable from this week's data until the area around $0.085. On the upside sits the daily high of $0.0978, and directly above it begins the area around $0.10, where the price failed repeatedly in September.

The reasoning behind these marks is mechanical, not prophetic: they are the prices at which supply and demand actually met over the past few days. The monthly gain of 12.3 percent shows at the same time that the current weakness is a move inside a friendlier month and not the reversal of an annual trend. The 64.7 percent annual loss and the 87.5 percent distance from the May 2021 high put the whole thing in context.

Leverage: why a three-percent day gets expensive here

Anyone trading Dogecoin with leverage should take today as the yardstick. Between the daily high and the daily low lie 7.5 percent. At five times leverage that range equates to a move of 37.5 percent on the capital employed, and at ten times leverage to double that. A liquidation threshold that sits closer than the usual daily range is reached in normal operation, not only in an exceptional case.

Fees and spread: what a tenth-of-a-cent token costs in the order book

At a price of $0.0914 the quality of the order book often decides more about the outcome than the trading fee does. A spread of $0.0002 sounds like nothing and already amounts to 0.22 percent at this price, in other words more than the order fee at many providers. A limit order instead of a market order costs patience and saves exactly that amount.

On top of that comes the conversion route. Anyone buying in euros pays, at some houses, a mark-up on the currency pair that is hidden in the spread and does not appear in the fee table. Since the MiCA regulation came into force, providers in the EU need authorisation as a crypto asset service provider, which harmonises the legal framework but does not remove the price differences. Which authorised houses work on which terms is set out in the comparison of the best crypto exchanges.

Market capitalisation $14.28 billion: Dogecoin sits 87.5 percent below its 2021 high

At $14.28 billion in market value Dogecoin remains the largest memecoin, and the distance to its own record of May 7, 2021 at $0.7316 is 87.5 percent. That number is no use as a price target. The distance shows how much capital has left the market since that high and how little the moves of recent weeks have changed it.

That leaves two verifiable dates in the calendar for the coming three weeks. October 14 brings the sale of the fund's holding and the cabinet session, October 22 the payout to the fund's shareholders. Both are dates fixed in the calendar, and both can be checked against the numbers when the time comes.

Dogecoin and the BWOW closure: Your next three steps

1. Secure the purchase date. Download the transaction history of every exchange on which you bought Dogecoin and store it outside the account. Without a purchase date the one-year period for holdings from 2026 cannot be proven later. Tools that merge several exchanges are listed in the comparison of crypto tax software.
2. Settle custody. Establish whether your holding sits on an exchange or in your own custody. Anyone intending to hold 2026 positions for years is sensibly not moving them shortly before the turn of the year, because every movement has to be documented. The devices in the comparison of hardware wallets differ above all in recovery.
3. Fix the order type. Decide before October 14 at what price you want to trade, and work with limit orders rather than market orders. On a day with announced selling pressure the spread is wider than usual. The terms of the authorised providers are set out in the comparison of crypto exchanges.

(As of October 2, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)