DOGE Reddit Mentions | ChartExchange

* In November 2025, the U.S. faced missing key economic data due to a government shutdown, combined with weak employment, soft consumption, and unclear policy direction, causing volatile market expectations and mixed signals on growth and inflation. While external risks eased and the tech sector performed reasonably, overall recovery remained moderate and increasingly dependent on policy clarity, data restoration, and market confidence.
* In crypto markets, daily trading volume averaged around $180.8 billion, showing short-term activity with frequent fund flows but no sustained trends. Market capitalization fell from about $3.88 trillion to $2.98 trillion, with brief rebounds failing to reverse the downtrend. Newly launched tokens like Monad, Pieverse, and Allora traded actively, while meme projects remained quiet.
* Bitcoin spot ETFs saw a large net outflow of $35.8 billion, while Ethereum spot ETFs had a net inflow of $8.34 billion. Overall stablecoin circulation dropped by $2.34 billion, reflecting strong fund volatility driven by price declines and weak market sentiment.
* Last week, BTC fell about 8% but attracted dip-buying and is trying to reclaim levels above $88,000. Short-term movement depends on breaking the 20-day EMA ($94,620); ETH and SOL are consolidating near key moving averages, with ETH facing $3,148–$3,350 resistance and SOL testing $126–$145 support. Breakouts could shift sentiment to bulls, while failure would keep bears in control and downside risk high.
* Key highlights include Coinbase launching its token public sale feature with Monad showing high volatility, and Uniswap proposing “UNIfication” to boost UNI’s protocol value through a deflationary mechanism and governance restructuring. Looking ahead, Circle is expanding the Arc ecosystem and exploring native token issuance, while Dogecoin and XRP ETFs’ approval marks the start of the altcoin ETF era, with more token products expected to gain regulatory approval soon.
# 1.Macroeconomic perspective
**U.S. Economic Update — November 2025**
In November 2025, missing key economic data from a government shutdown caused repeated swings in market expectations and significant differences in economic outlooks. While AI and tech company earnings were generally solid, weak employment, slowing consumption, and unclear policies made the overall economy complex.
**Policy Outlook**
With incomplete data, the Federal Reserve stressed patience to avoid adding stress to a fragile economy. The shutdown created information gaps, causing market expectations on future interest rates to fluctuate. Weak jobs data led some to expect earlier rate cuts, while persistent inflation and fiscal risks supported holding rates longer. This back-and-forth drove much of the financial market volatility in November.
**U.S. Equity Market**
U.S. stocks pulled back under shifting policy expectations, uncertainty over rate cuts, missing data, and weak employment and consumption. By month-end, rising rate cut expectations and falling long-term Treasury yields briefly lifted major indices. Future trends depend on whether core data confirm slowing growth and easing inflation, enabling December rate cuts. Clearer policies and improved liquidity could boost markets, while tech and growth sectors may face further pressure.
**Inflation Remains Above Target**
Data gaps increased short-term uncertainty in price trends. Recent signs show slight easing, but services and housing costs remain high, indicating structural inflation persists. The Fed emphasized that single signals are insufficient and months of data are needed to confirm inflation trends.
**Labor Market Weakens Further**
Employment data disruptions obscured the true labor market picture. September nonfarm payrolls showed 119,000 jobs added, but unemployment rose to 4.4%, with prior months’ figures revised down. October and November reports will be released together on December 16, leaving September as the last available report before the Fed’s December 10 meeting, complicating policy decisions.
**Political, Fiscal, and External Risks**
Although the shutdown ended, contract delays and budget pressures remain. Externally, U.S.-China talks eased trade tensions, and signals of a near ceasefire in Russia-Ukraine reduced geopolitical risks. These improvements support supply chain stability and corporate sentiment.
**Outlook**
As government operations resume, missing data will be updated. Recovery depends on whether inflation continues to fall, employment stabilizes, and easing policies gain clarity. Overall, the U.S. is in a loose policy cycle, with moderate recovery but rising volatility, increasingly reliant on policy transparency and market confidence.
# 2. Crypto Market Overview
# Token Data Analysis
**Trading Volume & Daily Growth Rate**
According to CoinGecko data, as of November 26, the overall trading volume in the crypto market showed significant fluctuations, with a daily average of approximately $180.8 billion. Overall, after a brief pullback at the beginning of November, the market quickly rebounded with increased volume. In the middle of the month, trading volume remained at a relatively high level with frequent capital flows. Although there were local spikes in volume again toward the end of the month, they failed to generate sustained momentum, and trading volume subsequently declined noticeably. Overall, this indicates that capital was more inclined toward short-term speculation rather than engaging in trend-driven positions.
**Total Market Capitalization & Daily Growth**
According to CoinGecko data, as of November 26, the overall market capitalization of the crypto market showed a volatile downward trend. At the beginning of the month, the market capitalization was approximately $3.8 trillion. Subsequently, through several small rebounds and pullbacks, the center of gravity continued to shift downwards, with new lows constantly being reached (from $3.88 trillion to a low of $2.98 trillion). Although there were several brief rebounds of 2%–3%, none of them reversed the overall downward trend. Overall, the market capitalization performance in November was weak, exhibiting characteristics of a structural correction, and market panic was spreading.
**New Trending Tokens in November**
Popular tokens newly launched in November were still dominated by VC-backed projects, with relatively low meme activity. Among them, Monad, Pieverse, and Allora performed well, with relatively active trading volume after listing.
# 3. On-Chain Data Analysis
**BTC & ETH ETF Inflows and Outflows Analysis**
**Net Outflow of $35.8 Billion from BTC Spot ETFs in November**
In November, Bitcoin spot ETFs recorded significant capital outflows, with a total net outflow of $35.8 billion, down 23.9% from the previous month. This trend was primarily driven by the sharp decline in BTC prices, which dropped 20.6% during the month, triggering redemption pressure and reducing the total asset value of ETF holdings. Since the black-swan event on October 11, crypto assets have struggled to rebound, with BTC and other tokens failing to recover meaningfully. The prolonged bearish sentiment further intensified ETF outflows.
**Net Inflow of $8.34 Billion into ETH Spot ETFs in November**
In contrast, Ethereum spot ETFs saw a net inflow of $8.34 billion in November, although the pace slowed by 31.3% compared to the previous month. The downturn in BTC exerted drag on the broader crypto market, and persistent weak sentiment continued to weigh on ETH ETF flows despite the overall net inflow.
**Analysis of stablecoin inflows and outflows**
Stablecoin Total Circulation Declined by $2.34 Billion in November
Amid a sharp downturn in the crypto market, incremental off-exchange capital slowed significantly, leading to the first decline in overall stablecoin circulation since 2025. Apart from USDT and PYUSD, which maintained modest net inflows, all other major stablecoins experienced notable outflows. USDE, in particular, saw market confidence collapse following the October 11 black-swan event and multiple algorithmic stablecoin depegging incidents, resulting in a 26.5% plunge in monthly supply. Additionally, leading stablecoins such as USDC and DAI also contracted to varying degrees, reflecting the broader deterioration in market sentiment.
# 4. Price analysis of mainstream currencies
**Analysis of BTC price changes**
Bitcoin (BTC) fell roughly 8% last week as broader market sentiment weakened, but the decline successfully drew in dip buyers. As the new week begins, bulls are attempting to push the price back above the $88,000 mark, signaling renewed confidence after last week’s volatility. BTC is currently rebounding from sharp drop to $80,600, yet the path higher remains challenging. The 20-day EMA ($94,620) stands out as the critical resistance level that will likely determine the near-term trend. A firm rejection from this moving average would highlight that bearish sentiment still dominates and that sellers continue to use rallies as exit opportunities. Such a scenario could accelerate a deeper correction toward $73,777, a historically important support area where buyers may attempt to reestablish control. For the bulls to gain meaningful momentum, BTC must break and hold above the 20-day EMA, demonstrating that the recent selling pressure has eased. A sustained move above this level could shift market sentiment decisively in favor of buyers, allowing the BTC/USDT pair to build toward the next major psychological target: $100,000.
**Analysis of ETH price changes**
ETH is attempting to mount a recovery following recent declines, but it faces a significant supply zone between the 20-day EMA ($3,148) and $3,350. This area has previously acted as a barrier, and buyers will need strong follow-through to break above it. Should ETH fail to overcome this overhead resistance, sellers could quickly regain the upper hand. A drop below $2,623 would serve as a strong confirmation that the next phase of the downtrend is underway, exposing the price to deeper declines toward $2,400, and potentially as low as $2,111. On the flip side, a decisive move above $3,350 would indicate that buyers are regaining momentum and are willing to defend higher levels. In this scenario, the ETH/USDT pair could make a push toward the 50-day SMA ($3,659). A close above the 50-day SMA would further validate a shift in sentiment, suggesting that the bulls are preparing for a broader recovery.
**Analysis of SOL price changes**
Solana (SOL) is attempting to stabilize at the $126 support level, but the shallow nature of the current rebound suggests a lack of strong buying interest. This cautious behavior from bulls indicates that many remain hesitant amid recent market weakness. If SOL fails to gather momentum and turns down — either from current levels or from the 20-day EMA ($145) — it would signal that bears remain firmly in control at higher prices. A breakdown below $126 could open the way for a sharper decline toward $110, and afterward potentially $95, an area that has previously acted as a meaningful support zone. However, if buyers manage to push SOL above the 20-day EMA, it would be an early sign of renewed bullish intent. A close above this key moving average could pave the way for a recovery toward the 50-day SMA ($174), where the next major test for the bulls would take place.
# 5. Hot Events of the Month
**Coinbase Launches Public Token Sale Feature, Monad’s Performance Falls Short of Expectations**
This month, Coinbase introduced its public token sale feature, with Monad as the inaugural project. Beginning November 17, the platform offered 7.5 billion MON tokens to the public at $0.025 each, representing 7.5% of the total supply and implying a project valuation of approximately $2.5 billion. Prior to listing, MON traded as high as $0.051 on Binance’s OTC desk, corresponding to a nearly $5.1 billion fully diluted valuation, and signaling strong market optimism.
However, upon its official debut on November 24, MON’s price quickly reversed, plummeting to $0.0204 at its lowest — briefly dropping below the public sale price and triggering short-term panic selling. After sell pressure eased, MON rebounded sharply, reaching $0.048 at one point. As of November 28, the first Coinbase public offering still recorded a peak return of approximately 92%, though characterized by significant volatility.
**Uniswap Proposes “UNIfication”: UNI Transitions Toward Value Capture**
Uniswap founder Hayden Adams and Uniswap Labs introduced the “UNIfication” proposal, aiming to transform UNI from a pure governance token into one that captures protocol value. The plan includes activating the long-discussed fee switch and implementing a deflationary model by burning 100 million UNI and redirecting part of v2/v3 transaction fees into a TokenJar contract for ongoing token burns.
Governance will be restructured under a new Wyoming legal entity, “DUNI,” while Uniswap Labs will remove interface, wallet, and API fees to focus on protocol growth. The market reacted positively, with UNI rising after the announcement. Although the fee switch may reduce LP earnings and risk liquidity migration, the upgrade positions Uniswap to evolve from a DEX into a broader ecosystem. If executed successfully, UNIfication could redefine UNI’s value model and enhance Uniswap’s long-term competitiveness.
# 6. Outlook for Next Month
**Circle Pushes Arc Expansion, Eyes Native Token Launch**
This month, Circle released its Q3 update, highlighting progress on its new blockchain Arc and the potential launch of a native token. Arc’s public testnet, opened in late October, already has over 100 institutions participating. Circle confirmed it is exploring a native token, signaling a shift from stablecoin issuance to full blockchain infrastructure. Token incentives could drive network adoption and strengthen Arc’s position in stablecoin payments, FX, and capital markets. Q3 revenue rose 66% to $740 million, net profit jumped 202%, and USDC’s market cap exceeded $73 billion, reinforcing Circle’s competitive edge.
**Dogecoin and XRP ETFs Launch, Altcoin ETF Era Begins**
On November 26, DOGE and XRP spot ETFs debuted, with first-day net inflows of $365,000 and $21.81 million, respectively. The listings mark a step toward broader institutional adoption of altcoin ETFs. Meanwhile, Bitwise updated its Avalanche ETF filing (BAVA) with a 0.34% fee and plans to stake 70% of AVAX, positioning it as one of the first U.S. crypto ETFs generating on-chain yield. Compared with VanEck (0.40%) and Grayscale (0.50%), ETF competition is increasingly focused on fees and yield, driving crypto assets into income-generating investment products.

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Dogecoin / Tether USD Nov 22 2024 1.10 Put
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