The cryptocurrency market is still being impacted by less-than-ideal risk-taking as the major altcoins are hovering in the area of key demand levels. Despite discussions continuing at the institutional level regarding Bitcoin ETFs, Dogecoin has followed suit and continues to show signs of the pressure from sellers. At press time, the coin is trading at $0.1225 with a decline of 2.76% over the past 24 hours.

Chart Signals Ongoing Bearish Momentum

According to Dogecoin’s daily TradingView chart, the price is consolidating around the $0.12 level of support, following a prolonged downturn after reaching higher levels. Currently, Dogecoin trades below both the 50-day moving average and the 200-day moving average, showing a bearish structure in the market.

The RSI remains below the neutral level of 50, suggesting that it has weak momentum and that very little buying pressure currently exists. The frequency of failing to establish support in the $0.14–$0.15 range also points to continued selling control at this time.

Also Read: coin Eyes Major Breakout: Will $0.12 Hold or Trigger Deep Sell-Off?

Grayscale Backs DOGE ETF Case

In a recent X post, Dogegod highlighted comments from Grayscale’s research director emphasizing the need for Dogecoin ETFs to serve non-Bitcoin investors, supporting a constructive long-term outlook for the asset.

The conversation and consideration of Dogecoin for ETF status could provide additional credibility to the overall Dogecoin market. While the above statement alone surely will not cause a price reversal of the coin, it does provide a very real structural bullish catalyst that has the potential to stabilize the price of the coin, should there be continued bullish momentum within the market overall.

Beyond Grayscale’s ETF push, the coin is seeing signs of regulated and real-world adoption.

Coinbase’s regulated DOGE futures enable institutional exposure through compliant derivatives, strengthening its institutional footprint and market liquidity.

Utility narratives are also expanding, with discussions in Buenos Aires around integrating the coin into gaming and payments to drive real-world usage.

Separately, EA Sports is reportedly exploring the coin integration on its PS5 platform by February 2026, a speculative move that could significantly broaden global visibility and transactional use.

DOGE On-Chain Activity Slows

On-chain data from Santiment signals show that while prices for the coin continue to decline, activity levels and transaction volume on the coin’s blockchain (also referred to as “on-chain”) are experiencing significant decreases.

In general, the decrease in on-chain activity and volume (alongside the negative price performance) is indicative of decreased network participant activity and a waning of speculative investor interest, which usually occurs during periods of a bear market or bearishness.

On the flip side, history indicates that these types of low-activity periods frequently lead to periods of accumulating for the coin (and/or other cryptocurrencies) by institutional and other investors as the next phase of the coin adoption unfolds.

In conclusion, bearish technicals are putting pressure on the coin over the short term, along with an overall decline in on-chain activity, as it indicates weak/dwindling demand. Its long-term viability has increased due to Grayscale’s entry into the market, but for a real bullish rally to take place, renewed activity on the coin network and a solid breakdown of price action will have to occur first.

Also Read: coin Eyes Next 900% Rally as Cycles Repeat, Key Support Holds

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Filed under: Bitcoin - @ December 27, 2025 3:05 pm