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The #Dogecoin weighted sentiment metric has collapsed in the past few weeks as its sluggish price action triggers impatience among investors.
Donald Trump’s election victory in November 2024 sparked a wave of excitement that sent the broad crypto market soaring as the president-elect had shown extreme support for the industry during his campaign.
However, as the rally now stalls for some assets, investor sentiment may now be changing. This appears particularly true for meme coin market leader Dogecoin (DOGE).

Dogecoin (DOGE) Investors Grow Impatient 

Following Trump’s election victory and the announcement of plans to launch a department of government efficiency playfully nicknamed D.O.G.E. by Tesla CEO Elon Musk, Dogecoin (DOGE) soared about 220% from $0.15139 to highs of $0.48434.
But as the rally has stalled over the past few weeks, with DOGE shedding some of its gains to trade at the $0.38429 price point at the time of writing, traders may now be losing patience and faith that the asset’s price still has more room for growth in the short term.
According to Santiment Feed data shared by prominent crypto analyst Ali Martinez on Tuesday, December 17, weighted DOGE sentiment has turned negative, dropping from highs of nearly five on Santiment’s scale in mid-November to a negative 0.6. Along with this decline in sentiment has also come a massive dip in mentions on social media from over 3,200 to below 300.
Still, negative sentiment may not be a reason for investors to panic, as it can often be a contrarian indicator when it is overwhelming. Indeed, analysts continue to sound bullish on the asset despite the recent correction.

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Despite increased price fluctuations near the $100,000 mark, #Bitcoin maintains an overall optimistic trend. Currently, Bitcoin is trading at $100,053, just shy of the $2 trillion market cap.
Technical setups indicate underlying bullish sentiment, suggesting a potential breakout rally.

Bitcoin Price Analysis

On the 4-hour chart, Bitcoin’s price trend shows a bullish breakout from a triangle pattern. However, the rally failed to surpass the critical local resistance at $101,642.
The supply zone now serves as the neckline of a bullish setup. Bitcoin’s price action is forming an inverted head-and-shoulder pattern and is currently in the process of forming the right shoulder.
The minor pullback during the formation of the right shoulder is seen as a retest of the previously broken resistance trendline. With the bullish setup and the post-retest reversal potential, the sentiment remains optimistic.
This minor pullback has led to a convergence of the MACD and signal line, warning of a potential bearish crossover. However, key dynamic support levels, such as the 20 EMA on the 4-hour chart, are observing a surge in supply.

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The United States Securities and Exchange Commission (#SEC ) could be planning to bring an enforcement action against popular NFT collection CyberKongz. 
According to an announcement, the development comes as the securities regulator issued a Wells Notice to the project. 
A Wells Notice is a form of communication the SEC issues to companies following an investigation, hinting that it may recommend an enforcement action against the recipient. 

CyberKongz Highlights SEC Misunderstanding of Blockchain 

According to the post, CyberKongz expressed disappointment with the development, noting that it has suffered in silence since the SEC launched its investigation in 2022. 
The project emphasized that the SEC demonstrated a lack of understanding of blockchain, which resulted in inaccurate information and unjust accusations. 
Specifically, the SEC claimed that CyberKongz should have registered with the agency for having a blockchain game alongside an ERC-20 token. Additionally, CyberKongz revealed the SEC misinterpreted its contract migration for Genesis Kong NFTs in April 2021 for a token sale. 
“If they cannot distinguish between a primary sale and a contract migration, what hope do we currently have for a clear regulatory pathway going forward?” CyberKongz quizzed. 
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E-commerce giant Amazon will look into adopting #Bitcoin as a strategic treasury reserve asset next year after receiving a proposal for the course.
The adoption of Bitcoin among corporate entities has continued its uptrend, with e-commerce firm Amazon Corp. the latest to receive a proposal for this. According to a Dec. 8 report, Amazon has received a shareholder proposal to adopt Bitcoin as a treasury reserve asset.
The National Council for Public Policy Research has written to Amazon, proposing it store its reserve assets in Bitcoin. Notably, the Washington, DC-based think tank requests that Amazon consider the asset in its April 2025 shareholders meeting.

Think Tank Brands Bitcoin a Hedge Against Inflation

The authors cited several reasons Amazon should incorporate Bitcoin as a store of its reserve value, including growing inflation. The think tank argued that the Consumer Price Index’s (CPI) inflation evaluation is inaccurate as the economic menace is higher than portrayed.
As a result, Amazon should consider Bitcoin, an investment vehicle that has historically proven to be a hedge against inflation. The authors cited Bitcoin’s yearly and five-year performance as proof that the premier asset has hedged against reserve devaluation.
Per the report, Bitcoin has appreciated 131% in the past year, outperforming corporate bonds by 126%. The flagship crypto asset is also up 1,246% in the past five years, with bonds managing a mere 4% uptick in the same timeframe.
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#Dogecoin , despite its meme-based origin, continues to rank among the most prominent crypto assets in the market, with a valuation of $61 billion. This market cap places it ahead of utility tokens like Cardano (ADA) and Tron (TRX).
With Dogecoin trading at $0.4010 at press time, the meme coin boasts a 60-day gain of 252%, far outpacing the 45% growth seen in Ethereum and Solana. As the crypto bull run continues with nearly a year left, Dogecoin is expected to perform even more spectacularly. 
Notably, the global crypto market cap currently stands at $3.65 trillion, with Dogecoin at $61 billion. This article explores Dogecoin’s potential price and valuation in a scenario where the global market cap reaches $15 trillion.

Dogecoin Price with $15 Trillion Global Market Cap

Notably, with a market cap of $61 billion, Dogecoin currently makes up 1.67% of the global crypto market cap, which is $3.65 trillion. For the global crypto market to reach $15 trillion, it would need to grow by 310%.
As a result, Dogecoin could achieve a market cap of approximately $250 billion, particularly if the meme coin maintains its current dominance and circulating supply. In this case, a $250 billion market cap would correspond to a price of $1.70 per Dogecoin.
For market participants holding Dogecoin at its current price, this would represent a 3X growth in their portfolio.

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AMP makes history by becoming the first major Australian-based superannuation fund to invest in #Bitcoin (BTC).
Local media outlet Australian Financial Review (AFR) reports today that AMP invested $27 million in Bitcoin as part of its diversification strategy. The investment represents 0.05% of AMP’s total funds worth $57 billion.
It bears mentioning that the company made the investment in May when Bitcoin was trading at around $60,000. However, the price has skyrocketed above the $100,000 mark ever since, netting the superannuation fund a profit of 66.66%.

AMP Execs React, Say Bitcoin Potential Is Too Big to Ignore 

Although AMP invested in Bitcoin earlier this year, the move became public knowledge recently following a LinkedIn post from the company’s Senior Portfolio Manager, Steve Flegg.
Notably, Flegg characterized the investment as ‘taking the plunge’ as Bitcoin looked to wrap up an outstanding year. The investment comes as most fund managers in the retirement savings sectors are ignoring Bitcoin due to its volatility. 
Explaining the motive behind AMP’s Bitcoin investment, Flegg pointed out that BTC’s potential has become too big to ignore despite the risk associated with the asset. 
Anna Shelly, AMP’s Chief Investment Officer, also commented on the bold move, indicating that it is part of the company’s diversification strategy. She pointed out that the investment was also driven by the sentiment and momentum associated with the premier asset. 
Furthermore, she acknowledged the risk involved in crypto while pointing out that AMP’s users have benefitted from the investment decision. The CIO suggested that the company is cautious about being too exposed to crypto, as the $27 million allocated to Bitcoin marks its upper-risk limit in the asset class.
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The U.S. Federal Reserve has confirmed that it has no plans to engage in #Bitcoin holdings or participate in government-led efforts to establish a strategic Bitcoin reserve. 
This statement was delivered by Fed chairman Jerome Powell during a press conference on Wednesday, held after the conclusion of a two-day policy meeting. 

Bitcoin Ownership Prohibited for the Fed

Powell reiterated that legal restrictions prohibit the central bank from owning crypto, dismissing rumors about the Fed’s potential involvement in creating a Bitcoin reserve.
The Fed chairman further clarified that any potential changes to this policy would require Congressional action. He stated that the Fed is not seeking legislative amendments to allow crypto ownership.
This clarification comes amid growing speculation regarding the Fed’s interest in digital asset reserves. However, the president-elect, Donald Trump, is pursuing the establishment of a strategic Bitcoin reserve for the United States.

Bitcoin Reserve Under Trump’s Presidency

A draft executive order prepared by the Bitcoin Policy Institute proposes the creation of this reserve under the Exchange Stabilization Fund (ESF) managed by the U.S. Treasury.
The draft outlines a framework to integrate Bitcoin into the nation’s financial stability plans. However, this executive order will require approval and formal signing by Trump after his inauguration to be implemented.
The U.S. government currently holds 212,847 BTC, valued at approximately $22.3 billion, acquired through law enforcement seizures.
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Susbarium, the Shiba Inu community-driven scam alert channel, issues a new warning, distancing SHIB from the newly launched cat-themed memecoin Shiro Neko (SHIRO). 
The controversy surrounding Shiba Inu’s relationship with Shiro Neko continues to gain momentum, with Susbarium adding a new twist. 

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U.S.-based exchange Uphold has launched a campaign that allows XRP enthusiasts to win up to $20,000 in XRP tokens.
Uphold announced this latest XRP promotion on Thursday via its official account on X. The campaign is called the “XRP Sweepstakes.” It promises a grand prize of $20,000 in XRP to one lucky participant, with an additional $5,000 to be shared among five runners-up.

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After a whirlwind run in the month following the U.S. election, crypto assets appear to be taking a breather, including the leading meme coin, #Dogecoin (DOGE).
The dog-themed asset is down 6.6% in the past seven days, falling from highs of around $0.484 to trade around $0.388 at the time of writing. 
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