Moquete

Shiba Inu sees the outflow of 100 billion tokens from exchanges in 24 hours, while the price remains bearish.

Shiba Inu exhibits a notable disparity between its price performance and on-chain metrics. The token is trading near local lows, while experiencing significant capital outflows from exchanges.

Almost 100 billion SHIB tokens have left trading platforms in a 24-hour period. This movement represents one of the largest withdrawals recorded in recent months.

Exchange reserve data confirms the trend. Tokens are moving to private wallets instead of accumulating on trading platforms. The outflow pattern often indicates reduced selling pressure. Market participants prefer self-custody rather than keeping liquidity on exchanges.

The timing of these withdrawals is important. Large-scale withdrawals at depressed prices often precede stabilization periods. Historical patterns suggest that this behavior reflects accumulation rather than distribution. Holders show a willingness to lock positions instead of keeping inventory ready for sale.

Price action tells a different story. SHIB continues to trade below all major moving averages. The chart structure maintains a bearish setup. No confirmed reversal signals have been detected. At the time of writing this article, SHIB is trading around $0.000007742, suggesting a 2.5% increase in the last 24 hours.

$SHIB

Bitcoin's open interest falls by 50% amid year-end trading slowdown

Bitcoin's open interest (BTC), at $86,621.37, has decreased by nearly 50% by the end of 2025, dropping from over $70 billion to around $35-40 billion, as institutions close leveraged positions amid year-end caution.

This slowdown in activity and trading volumes indicates a defensive market stance, with prices stable in a narrow range near $86,400.

The decline in Bitcoin's open interest in 2025 is primarily due to the reduction of leveraged positions by institutional investors as the year comes to a close.

Data from Alphractal indicates a significant drop of nearly 50%, with over $30 billion in positions closed on major trading platforms.

This reflects a common year-end strategy where market participants reduce the risk of their portfolios, resulting in quieter trading in futures, spot markets, and ETFs, while prices remain relatively stable in a narrow range.

The drop in Bitcoin's (BTC) open interest of $86,621.37 has coincided with a noticeable slowdown in trading volumes, affecting both centralized exchanges and ETFs.

On centralized platforms, overall participation has softened, even as Binance maintains dominance with daily volumes exceeding $50 billion. ETF trading has also trended downward, reaching around $39 billion in recent sessions.

This reduction follows a pattern observed in previous years, where holiday periods lead to lower activity. $BTC

Solana absorbs a record DDoS attack of 6 Tbps and maintains its operations at full capacity

Solana suffered a multi-day DDoS flood that peaked at 6 Tbps on December 15, according to data from Pipe Network and SolanaFloor.

The attack flooded the RPC endpoints without causing delays in blocks, slot jumps, or failed transactions across the chain.

Validators maintained normal voting rates while processing regular volumes of over 100 million daily transactions.

Network improvements, such as QUIC transport and participation-weighted quality of service, managed the sudden spike.

This marks a shift from the disruptions of 2022, when smaller DDoS waves halted operations for hours.

The recent hardening, which includes firewall rules and endpoint limits, blocked traffic before it exceeded consensus.

The document highlights that Solana's impeccable management of a record DDoS attack of 6 Tbps reinforces its suitability for enterprise use.

This is supported by ecosystem achievements, such as tokenized shares of Kraken through Backed Finance and the collaboration between Taurus and Everstake for custody staking.

Moreover, institutional confidence is evident, as Forward Industries has appointed Ryan Navi as CIO to build Solana's treasuries.
The active Base-Solana bridge significantly enhances cross-chain capabilities, thanks to the collaboration with Coinbase and Chainlink CCIP.

This bridge enables the secure and smooth transfer of assets like SOL between the Base and Solana networks, unifying liquidity. This allows developers to integrate native Solana assets into Base applications, simplifying cross-chain transfer and driving adoption in DeFi, gaming, and NFT. $SOL

Taiwan prepares legislation on stablecoins for 2026, with exclusive issuance for banks.

The financial authorities of Taiwan are pushing plans to integrate stablecoins into the national banking system.

A central debate has emerged over whether these digital tokens should be pegged to the new Taiwanese dollar or the US dollar.

The issue took center stage at a forum organized by the Taiwan External Trade Development Council on December 15.

Regulators and industry executives examined how digital currencies could reduce transaction costs for companies engaged in international trade.

International payment fees currently pose a burden for Taiwanese exporters, with costs reaching 5% per transaction.

These charges accumulate through outgoing transfer fees, incoming transfer fees, and intermediary bank fees.

A stablecoin pegged to the US dollar could streamline cross-border settlements while simultaneously avoiding regulatory restrictions on the circulation of NTD abroad.

A token linked to NTD would integrate better with Taiwan's national payment infrastructure.

Alex Liu, CEO of MaiCoin and a board member of the Taiwan Virtual Assets Service Providers Association, argued that a local stablecoin could drive Taiwan's economic expansion.

Payment providers are closely monitoring the development of stablecoins, as these instruments promise significant fee reductions in markets that mimic traditional currency trading.

Liu emphasized that an NTD stablecoin would have functional, not speculative, purposes. The tool would primarily address efficiency improvements and risk management issues. $USDT

The price of Dogecoin fell during the day and remained below the Supertrend line, while the trading volume data for tokens showed a weaker recent participation.

In the last 24 hours, DOGE fell approximately 5.9%, down to $0.1289, moving within a daily range of between $0.1274 and $0.1374.

The wide swing shows that the market tried to rise at first, but the movement did not hold and the price spent more time moving towards the lower end of the range.

Despite the pullback, participation remains strong. DOGE is close to a market capitalization of $19.620 billion, with a volume of approximately $1.300 billion in 24 hours, an increase of 36.39%, suggesting that it was not a low liquidity move.

These are the levels that DOGE needs to recover before buyers can claim that the worst is over.

Dogecoin remains in a bearish trend on a daily setup, with the price below the supertrend line. The value of the supertrend is near $0.15223, indicating that bearish control remains intact and that bulls are experiencing pullbacks unless the price manages to recover that level and stay above it.

The momentum indicators are also leaning downwards. Specifically, the MACD crossover indicator is below the zero line, and the MACD line (approximately -0.00422) is below the signal line (approximately -0.00312).

This alignment usually reflects negative momentum, even if the lines start to flatten out, suggesting that selling pressure could be decreasing, but not yet reversing.

At key levels, support is immediate near the recent low of $0.1271, with the next bearish zone around $0.1034 if that low is broken. $DOGE

BitMine adds $321 million in Ethereum to its corporate treasury

BitMine Immersion Technologies acquired 102,259 Ethereum for an approximate value of $321.1 million last week, as the company continues to accumulate assets to reach its goal of owning 5% of the total supply of the asset.

The company, which is listed on the New York Stock Exchange (NYSE), revealed on Monday that its holdings amount to 3,967,210 Ethereum, purchased at an average price of $3,074 per token.

The digital asset treasury is valued at nearly $12.5 billion at current prices. BitMine's stock represents approximately 3.2% of all circulating Ether, making it the largest holder of corporate treasury Ethereum in the world, according to the company's announcement.

The firm also owns 193 Bitcoin, $1 billion in cash, and a strategic stake of $38 million in Eightco Holdings. The combined holdings of cryptocurrencies, cash, and investments total approximately $13.3 billion as of Monday, positioning BitMine as the second-largest corporate treasury of cryptocurrencies, after Strategy.

The latest purchase comes after two consecutive weeks of accelerated accumulation following a quieter November. BitMine attributed the slowdown in November to market volatility related to the price drop in October, when Ethereum experienced significant downward pressure.

BitMine's president, Tom Lee, stated that the company continues to see structural impulses for Ethereum. Lee cited regulatory and legislative changes in Washington, along with increased institutional participation, as factors reinforcing the conviction in the accumulation strategy.

According to Lee, cryptocurrency prices have stabilized over the past week, further demonstrating that recovery is underway. $ETH

PayPal launches PYUSD Savings Vault on Spark amid an effort to increase stablecoin deposits to one billion dollars

PayPal is launching the PYUSD -0.02%
Savings Vault on the decentralized lending platform Spark, presenting a new way for stablecoin users to earn yield on their holdings.

The Spark website announces an APY of 4.25% for the vault, equivalent to the expected yields in other stablecoin vaults for the larger centralized stablecoins USDC and USDT, as well as Spark's native token USDS, which is issued by the parent organization, CIELO -4.64%
(previously MakerDAO).

The yield of the PYUSD Savings Vault is anchored to the Sky Savings Rate, which is funded by the revenues of the Sky Protocol, according to Spark's documentation.

Sky generates revenue from stability fees from over-collateralized loans, investments in real assets, and by providing liquidity in its first and largest subDAO, Spark.

Spark, launched in 2024, is a DeFi lending and liquidity protocol that offers a variety of stablecoin savings vaults that generate yield and the decentralized money market SparkLend, a fork of Aave v3 that allows users to obtain over-collateralized stablecoin loans by depositing cryptocurrencies.
PYUSD was integrated into SparkLend in September, allowing users to lend and borrow the stablecoin.

PayPal and Spark then announced their intention to increase deposits to $1 billion, after seeing approximately one-fifth of that amount deposited in the first 24 hours.

Currently, there is nearly $150 million in supplied PYUSD, with a gain of approximately 2.11%, and around $67 million lent, according to Spark's figures.
$USDC

The central bank of Argentina is reviewing the rules to allow local banks to offer trading and custody of Bitcoin, moving cryptocurrency activity to supervised channels.

The Central Bank of Argentina is reviewing a proposal that would allow commercial banks to offer Bitcoin services for the first time since the 2022 ban.

Authorities are studying a regulatory package that would allow banks to integrate cryptocurrency trading and custody into standard accounts. The measure signals a shift towards overseeing digital asset activity after years of growth on unregulated platforms.

The draft framework arises from internal debates in the government's digital assets working group. Although the text is not definitive, regulators have confirmed that the plan remains in effect.

They are evaluating risk controls, information standards, and the assets that banks could back. The list will likely include Bitcoin, major cryptocurrencies, and dollar-pegged stablecoins.

Argentine banks have shown interest in rejoining the sector. Before the 2022 restriction, several institutions tested cryptocurrency trading tools in their applications. As the review continues, banks are preparing their internal systems to act quickly if the central bank authorizes the change.

Argentina's renewed interest in access to Bitcoin comes after long periods of high inflation and strict currency controls. These conditions drove many residents towards digital assets, often using offshore exchange platforms or informal channels.

$BTC

GoTyme Bank launches cryptocurrency trading in the Philippines in partnership with Alpaca

GoTyme Bank, the fastest-growing bank in the Philippines and a joint venture between Gokongwei Group and Tyme Group, announced the launch of its cryptocurrency investment feature.

This launch was made possible through a collaboration with Alpaca, a global leader in brokerage infrastructure APIs that provide access to cryptocurrencies, stocks, ETFs, options, and fixed income.

The demand for cryptocurrencies continues to rise globally, and the Philippines ranks ninth in adoption and twentieth in crypto wealth. Currently, around 10% of Filipinos use cryptocurrencies, and this figure is projected to reach 12.79 million users by 2026.

This growth is due to the demand for digital financial solutions among approximately 76% of the country's population, who are either unbanked or have limited access to banking services.

The crypto-friendly environment in the Philippines is bolstered by the government's positive stance on digital assets, a growing tech-savvy population, and limited access to traditional financial services.

“Our goal is to become the most transformative bank in the Philippines, one that empowers every Filipino to develop their financial potential.

The launch of GoTyme Crypto is an important step towards that vision, as we continue to offer top-notch financial solutions that combine security, simplicity, and innovation,” said Nate Clarke, president and CEO of GoTyme Bank.

“By partnering with Alpaca, we bring our global expertise to local customers, ensuring they have the tools to participate confidently in the digital economy.” $BNB

The divergence between Ethereum and Bitcoin could indicate superior performance in 2026

Ethereum ( ETH ), with a price of $3,058.21, shows early signs of decoupling from Bitcoin in 2025, with on-chain metrics indicating greater adoption of the network and a more limited supply.

As Bitcoin's dominance falls below 60%, staking and ETH upgrades position it for potential superior performance in 2026, driven by increased transactions and the conviction of holders.

The decoupling of Ethereum ( ETH ) from Bitcoin, with a price of $3,058.21, gains momentum in 2025 thanks to upgrades and growth on-chain. Discover how staking and ETH's network metrics indicate potential superior performance in 2026: explore the change now.

The dissociation of Ethereum from Bitcoin refers to the increasing independence of ETH in price action and market performance, independent of BTC's dominance. In 2025, despite overall market challenges, Ethereum has demonstrated resilience through network upgrades and on-chain activity.

This divergence, marked by a 2.08% increase in the ETH/BTC ratio, suggests that investors are focusing their attention on the fundamentals of Ethereum ( ETH ) ( 3058.21 USD ) for long-term value.

Ethereum's on-chain metrics reveal solid growth, with total staking value exceeding 36 million ETH amid market uncertainty, according to data from Glassnode.

Exchange reserves have decreased by nearly 1.2 million ETH since the beginning of the fourth quarter, indicating strong commitment from holders and reduced selling pressure. Weekly transactions increased from 1.55 million to 1.66 million month over month, driven by upgrades like Pectra and Fusaka, which enhance scalability and adoption. $BTC $ETH

The record streak of gold could be facing a significant reversal, according to economist Henrik Zeberg, who warned that the metal is on the brink of a major drop.

His latest analysis holds that the momentum behind the rise of gold in 2025 is rapidly weakening and technical indicators now point to a considerable correction ahead, he said in a post on X on December 6.

Zeberg warned that gold "is about to fall off the cliff in a very big way," noting that the narrative of rising inflation expectations can no longer sustain prices at the elevated levels they are currently at.

The warning comes at a time when gold is trading near historic highs above $4,200 an ounce, driven earlier this year by aggressive investment flows, central bank purchases, and expectations of rate cuts by the Federal Reserve.

According to Zeberg's analysis, price action is developing within a large and exhausted consolidation zone, and gold repeatedly fails to break above its upper resistance band.

More concerning is the emergence of a bearish divergence. In this line, while gold's recent highs have risen slightly, the RSI has shown a downward trend, indicating a weakening of the underlying momentum.

The setup is further pressured by an upward trend line that is now at risk; a break below it would confirm a structural collapse and potentially open the door to a deeper decline.

Overall, Zeberg's technical reading sharply contrasts with the optimism that defined much of 2025. Global demand reached record levels, and investment and central bank purchases helped drive the market to over 50 historic highs throughout the year. $BTC

The aggressive bearish trend of Dogecoin continues as the price aims for an annual low of 0.08

The price of Dogecoin continues to weaken as its aggressive bearish trend persists, putting pressure on the market and increasing the likelihood of a new test of the untested annual low of $0.08.

The market structure has significantly deteriorated in recent weeks, with the asset firmly anchored in an aggressive bearish trend.

A series of lower highs and lower lows has defined the current trajectory, showing few signs of recovery as the price continues to operate within a well-established bearish channel.

With support levels weakening and a strongly bearish momentum, Dogecoin appears increasingly vulnerable to retesting its annual low of around $0.08. Market participants are closely watching the growing bearish pressure faced by the meme cryptocurrency.

The price of Dogecoin has clearly been bearish since it rejected high-range resistance around $0.21. The backtest of this level, followed by the loss of the point of control, triggered a significant change in momentum.

Every attempt at a bullish breakout has met with a swift rejection, while every bearish movement has encountered minimal resistance. The structure presents a clear picture of a market that continues to decline in a controlled and steady manner.

If Dogecoin remains within its bearish channel, the probability of a new test of the annual low of $0.08 continues to increase. A strong bullish reversal would require reclaiming the low of the value area and breaking the upper boundary of the channel, but until that happens, the path of least resistance points downward. $DOGE

Bloomberg: Bitcoin will lead the next recession

Mike McGlone, chief commodities strategist at Bloomberg Intelligence, has opined that Bitcoin could be the main indicator of the next recession. 

He argues that some signals from asset prices (gold at historical highs, the drop in Treasury bond yields, the spike in stock volatility) appear to be early warning signs historically associated with major economic reset events.

Bitcoin is a high beta risk asset whose price reacts quickly to changes in global risk sentiment. If the flagship cryptocurrency starts to drop sharply, it could be an early market signal that leverage is unwinding. 

McGlone has maintained a bearish outlook on Bitcoin for the past two months. He argues that the sharp decline of Bitcoin from its 2025 highs indicates the beginning of post-inflationary deflationary pressures. 

This is a pattern similar to what was observed in 2007, when the Federal Reserve began to ease rates, only for the markets to eventually crash.  McGlone often points out Bitcoin's tendency to revert to the mean.

He has predicted that the cryptocurrency could return to the $50,000 level, and possibly crash further down to $10,000 in a more severe scenario. He has been consistently optimistic about gold.

The yellow metal has managed to shine in 2025, while Bitcoin, crude oil, and other risk assets have faltered. 

McGlone argues that the maturation of the cryptocurrency and ETF inflows mark a late bullish peak, similar to the excesses of the dot-com era. He believes that the S&P 500 could record its third down year since 2008.

The analyst has forecast possible trajectories towards 5000 points for the index, along with $50,000 for Bitcoin in 2026.

$BTC

 

The U.S. regulation of stablecoins creates a global liquidity gap with Europe

According to a recent report by the blockchain security auditor CertiK, the new regulatory framework for stablecoins in the United States is laying the groundwork for a divide in global liquidity flows, especially compared to the European Union's Markets in Crypto-Assets (MiCA) regime.

This regulatory change, led by the GENIUS Act, is expected to create differentiated liquidity funds in the U.S. and the EU, which could pose significant challenges for cross-border transactions.

The report highlights that the United States has entered a new phase of regulatory clarity regarding digital assets. There are already federal laws and administrative reforms to regulate the issuance, trading, and custody of digital assets. A central element of this transformation is the GENIUS Act, enacted by U.S. President Donald Trump.

This law establishes the first federal framework for payment stablecoins, imposing strict reserve requirements, prohibiting yield-generating stablecoins, and formally integrating stablecoin issuers into the U.S. financial system.

However, CertiK's report warns that this measure exacerbates the gap between U.S. and EU stablecoin markets. The U.S. framework, which reinforces the dominance of the U.S. dollar, has led to the creation of an independent liquidity fund.

As a result, liquidity is likely to become increasingly segmented by jurisdiction, which could generate friction in cross-border settlement and create opportunities for stablecoin arbitrage.

While the EU's MiCA regime shares some similarities with the U.S. GENIUS Act, such as the requirement for full par redemption and the prohibition of yield-bearing stablecoins, it carries its own risks. $USDC

The Bitcoin rally could weaken as markets await the Fed's decision on rates

The recent increase in the price of Bitcoin (BTC) to $92,991.78 recorded gains of 5.7% on Tuesday, pushing prices briefly above $93,000 before a pullback, amid anticipation of the Federal Reserve's interest rate decision.

Analysts warn that macroeconomic uncertainty could limit the duration of the rally.

The increase to $92,991.78 in the price of Bitcoin (BTC) was driven by widespread market gains on December 3, when the cryptocurrency briefly surpassed $93,000 before retreating.

This movement marked Bitcoin's fifth best daily performance of the year, at 5.7%, driven by investor optimism despite ongoing economic concerns. At the time of this report, Bitcoin was trading around $92,772, 0.7% higher than the previous day, according to data from CoinGecko.

The upcoming Federal Reserve rate decision is a focal point for cryptocurrency investors, as historically lower interest rates boost risk assets like Bitcoin. Traders now estimate an 89% probability of a third rate cut, up from 66.8% a month ago, according to the CME FedWatch tool.

However, without recent inflation or employment data due to delays in processing the recent U.S. government shutdown, resolved on November 12, markets remain volatile.

QCP Capital experts highlight additional uncertainties, including a potential leadership change at the Fed, with betting markets assigning an 85% probability to Kevin Hassett as the next chairman under the expected formalization early next year. $BTC

BlackRock considers that the increase in U.S. national debt is a catalyst for the adoption of cryptocurrencies

BlackRock's CEO, Larry Fink, identified the growing national debt of the U.S. as a possible driver for broader adoption of cryptocurrencies today, suggesting that digital assets could serve as alternatives if fiscal concerns undermine the dominance of the dollar.

Fink, who oversees BlackRock's investment strategies, highlighted how uncontrolled U.S. deficits could position Bitcoin and other digital assets as viable options beyond traditional dollar-based holdings.

BlackRock has expressed concern that the increase in U.S. national debt could affect conventional assets, such as U.S. Treasury bonds, while noting the growing institutional interest in crypto assets as an alternative investment class.

The firm has also emphasized tokenization as an emerging technology with the potential to reshape the infrastructure of the financial system in the coming years.

The price of Pi Network is approaching a breakout as key fundamentals align.

The price of Pi Network could be on the verge of a major movement in December as a symmetrical triangle pattern approaches its confluence and key fundamentals align.

Pi Coin traded at $0.2320 today, December 2, its lowest level since November 21. This price is ~51% higher than its lowest level this year, giving it a market capitalization of nearly $2 billion.

Several important fundamental factors could drive the price of Pi Network in the short term. One of them is that the token unlocking schedule will significantly slow down over the next seven months.

Data from PiScan shows that the network will unlock 190 million tokens this month. Subsequently, these unlocks will gradually decrease until June of next year, when 76 million tokens will be released. The drop in token unlocks is a bullish factor for a cryptocurrency, as it indicates reduced inflation.

Pi Network will also launch its decentralized exchange platform, automated market maker, and token generation, which is already in its test network. Once launched, it will be possible to generate tokens, provide liquidity, and trade them on the network, which will increase the utility of the Pi token.

Meanwhile, the price of Pi Network will also benefit from the potential decision on its MiCA application, which will allow cryptocurrency exchanges in the European Union to include the token.

South Korean lawmakers set December 10 as the deadline for the stablecoin bill, while the dispute over banking control hampers its progress. Regulators and the central bank disagree on the framework.

South Korean lawmakers have issued an ultimatum to financial regulators. The ruling party demands a stablecoin bill before December 10 and threatens to push its own legislation if regulators do not meet the deadline.

Democratic Party legislator Kang Joon-hyun made his stance clear. If the government does not comply, the Political Affairs Committee will draft its own proposal. The legislation could reach the full National Assembly during a special session in January 2026.

The Financial Services Commission responded on Monday with measured language. The regulator stated that no final decisions have been made regarding the issuance structures of stablecoins.

Officials confirmed that discussions took place during a meeting between the ruling party and the government. Both parties agreed to expedite the drafting process.

The FSC explicitly denied earlier reports about banking requirements. Claims that banks must own at least 51% of the capital in stablecoin consortia remain unconfirmed. The regulator emphasized that these details are still under review.

The dispute centers on the degree of control that banks should have over the issuance of stablecoins. The Bank of Korea wants traditional financial institutions to take the reins. The central bank argues that banks already operate under strict regulatory oversight. Their experience with anti-money laundering protocols makes them ideal candidates.
$USDC

Why has the price of XRP just experienced its biggest drop in a month?

XRP, the fourth most important player in the cryptocurrency industry, fell to $2.0340, its lowest level since November 23. It has now plummeted 45% from its highest level this year.

The main reason for XRP's price drop is that confidence in the sector has worsened in recent days. This decline explains why Bitcoin (BTC) and most altcoins fell today.

Data compiled by CoinMarketCap shows that the cryptocurrency fear and greed index remains in the fear zone at 20. In most cases, cryptocurrency prices remain on the edge when market participants feel fear.

The price of XRP also fell, while liquidations increased slightly. Data collected by CoinGlass shows that bullish liquidations reached $16 million, well above the $2.27 million from the previous day.

This liquidation, although high, was much lower than that of other cryptocurrencies like Bitcoin, Ethereum, and Zcash.

Technical factors also explain the drop in XRP's price. As shown in the chart below, the coin has formed a descending channel pattern and has remained below the 50 and 200-day exponential moving averages.

These two averages formed a death cross on November 6, when the 50-day moving average fell below the 200-day moving average.

Most importantly, the coin has been forming a series of lower highs and lower lows in recent months, with sellers stepping in and gaining every time it tried to recover.

On the positive side, the price of XRP has numerous bullish fundamentals that could trigger a rally over time.
The most significant is the strong demand from U.S. investors, which has driven accumulated ETF inflows to over $666 million. $XRP

The Dogecoin whales have fallen silent as the newly launched U.S. DOGE ETFs see weak demand, raising questions about market sentiment and the short-term outlook for the meme coin.

Large holders of Dogecoin have slowed their activity despite the arrival of the first spot DOGE ETFs in the United States.

This shift comes at a time when the cryptocurrency market is generally losing momentum, leading to a reduction in the drastic trading patterns that characterized previous periods of volatility.

Blockchain data shows that Dogecoin whales have reached their lowest level of activity in two months.

Analyst Ali reports that the slowdown reflects a period of calm in major digital assets, where strong intraday swings have softened.

This change has raised doubts about whether the whales are waiting for an improvement in market conditions or preparing for further weakness.

The reduced activity coincides with Dogecoin's tight price range since mid-October. The asset has remained between $0.133 and $0.20 for several weeks. At the time of this publication, Dogecoin was trading around $0.15, suggesting a 1.08% increase in the last 24 hours.

The launch of spot Dogecoin ETFs was expected to infuse new interest into the market. Grayscale launched its DOGE ETF, trading under the symbol GDOG, on the New York Stock Exchange earlier this week.

Bitwise also launched its own Dogecoin product under window 8(a) of 20 days, marking an exceptional moment of institutional expansion for the meme-inspired asset.

Despite these events, the market reaction remained subdued. GDOG recorded an initial trading volume of $1.4 million, below sector expectations. $DOGE