Franklin Templeton Just Made A Major Dogecoin Move With Latest Filing

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.

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.