Can Dogecoin Price Still Reach $10 With The 3rd Wave Deadlock?

The cryptocurrency market is experiencing a downturn, with Bitcoin leading the decline, causing Ethereum and Dogecoin prices to follow suit. Analysts speculate that the market may be entering a bear trend after a prolonged period of growth, although some predict a potential price pump could occur before this trend solidifies.

Franklin Templeton has filed with the US Securities and Exchange Commission to expand its Franklin Crypto Index ETF, officially adding Dogecoin starting December 1. This move marks a significant shift in the asset-management giant's strategy, moving beyond Bitcoin-focused products to include a cryptocurrency that has gained substantial popularity among retail investors.

Bitcoin treasury companies have significantly increased their holdings, now controlling approximately 5% of the total Bitcoin supply, with Strategy leading the way by holding 650,000 BTC. Despite market fluctuations, these companies, including Metaplanet and MARA, continue to accumulate Bitcoin, indicating a strong belief in its long-term value.

The XRP price has recently stabilized around the critical $2 mark after a decline from $2.20, with the weekly candle closing slightly green for the first time in over a month. This level is now pivotal for XRP's price structure, as it could determine whether the cryptocurrency continues to face downward pressure or begins to recover. Analysts are closely monitoring this situation as it unfolds.

Bitcoin's price has dropped to approximately $85,000, marking a 7% decline attributed to rising yields on Japanese government bonds, which have triggered a significant unwinding of the Yen Carry Trade, according to market expert Shanaka Anslem. This follows a brief recovery to around $93,000 last week, highlighting the volatility in the cryptocurrency market.

Dogecoin whale activity has dropped to a 60-day low, indicating a significant decline in large-holder trades, while the meme coin is testing key support levels for 2024 and trading below its 200-day EMA. This trend suggests a bearish sentiment among major investors in the cryptocurrency market.

The launch of Grayscale's spot Dogecoin ETF on November 24, 2025, was met with disappointing trading volumes, reaching approximately $1.4 million on its first day, significantly lower than analysts' expectations. This muted response reflects a lack of enthusiasm in the market despite the anticipation surrounding the first-ever Dogecoin ETF.

Bitcoin miners are facing a challenging December as the network's mining difficulty is set to increase from 149 trillion to nearly 150 trillion, while hashprice remains low at around $38.3 PH/s, just above the break-even point for many operations. This situation is exacerbated by a recent decline in Bitcoin's price, which has raised concerns among miners about the sustainability of their operations.