Meme coin breaks key technical level as institutional-sized trades dominate Wednesday session amid ETF filing buzz.
News Background
- Dogecoin’s decline came despite an uptick in network activity and renewed ETF speculation.
- Both 21Shares and Grayscale advanced filings for spot DOGE ETFs, adding to expectations that meme coins could see broader institutional availability in coming months.
- On-chain metrics also registered a notable shift: DOGE recorded 71,589 active addresses — the highest level since September — indicating rising user engagement even as price action weakened.
- Yet this fundamental backdrop failed to support the market. Whale activity remains muted compared to November, and ETF inflows have not meaningfully accelerated, creating a divergence between increasing network participation and weakening price structure.
- With broader crypto sentiment skewing risk-off, DOGE’s…
