Dogecoin has seen a sharp decline of over 10% in the past week, falling to $0.179. The drop coincides with heightened uncertainty linked to Elon Musk and Donald Trump, which appears to have dampened investor sentiment.
Despite the setback, Dogecoin remains the eighth-largest cryptocurrency by market capitalisation at $26.88 billion and commands a dominance of 0.8299%.
Technical analysis shows widening Bollinger Bands on the 4-hour chart, indicating increased volatility. The price touched the lower band near $0.17 before making a mild recovery towards the midline.
Meanwhile, trading volume surged to $1.63 billion, suggesting a large-scale sell-off. The Relative Strength Index (RSI) fell into an oversold zone but is now showing signs of recovery at 39.75, hinting at a potential reversal.
If bullish momentum continues, Dogecoin could test the resistance level at $0.183, with possible targets at $0.200 and $0.217. However, failure to break through could send the price down to the key support level of $0.165 in the coming weeks.
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Telegram founder Pavel Durov says he remains baffled by his detention in France, describing the incident as politically charged and unjustified. In his first interview since his August 2024 arrest, Durov said French prosecutors treated Telegram’s operations as a mystery.
Durov was indicted on six charges, including complicity in criminal activity, money laundering, and failing to respond to legal requests. He denied the accusations, stating that a top-tier accounting firm audits Telegram and spends millions on compliance quarterly.
‘We did nothing wrong,’ he said, accusing French authorities of failing to follow due legal process.
Carlson criticized the arrest as an attempt to humiliate Durov and questioned why civil liberties advocates were silent.
In response, Durov pointed out that over nine million Telegram users have signed a letter demanding his release. He also emphasized that Telegram is prepared to leave countries that oppose its values.
Telegram’s global user base continues to grow rapidly, reaching one billion monthly active users as of March 2025.
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Paraguay’s government warned of possible unauthorised access to President Santiago Peña’s X account after a false Bitcoin legal tender claim. The now-deleted message announced a $5 million Bitcoin reserve fund and featured a decree with the national coat of arms.
Officials quickly noted inconsistencies in the statement’s formatting and tone. No matching information was published on government websites or state-run media. These red flags led observers to question the post’s authenticity almost immediately.
Authorities confirmed that the president’s account had shown signs of ‘irregular activity’, suggesting it may have been compromised. Citizens have been urged to ignore the claim and await verified updates through official channels.
Although countries like El Salvador have formally adopted Bitcoin as legal tender, Paraguay has made no such move. At the time of writing, no further details had been released regarding the source or method of the suspected breach.
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South Korea’s new president, Lee Jae-myung, is moving quickly on campaign pledges as the ruling Democratic Party proposes a bill to issue local stablecoins. The Digital Asset Basic Act, announced on Tuesday, aims to improve transparency and boost competition within the crypto sector.
Under the proposed law, South Korean firms could issue stablecoins if they hold at least 500 million won in equity capital. These issuers must maintain sufficient reserves and gain approval from the Financial Services Commission.
The move comes as stablecoin trading in South Korea surges, reaching 57 trillion won in Q1 alone.
Lee’s push for broader crypto integration includes proposals for the national pension fund to invest in Bitcoin and permitting Bitcoin ETFs. However, the Bank of Korea has voiced opposition, warning that private stablecoins could undermine the central bank’s control over monetary policy.
Despite uncertainties, local crypto stocks such as KakaoPay have seen sharp gains, though some analysts caution the optimism may be premature.
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Argentina’s Anti-Corruption Office has concluded that President Javier Milei did not violate ethics laws when he published a now-deleted post promoting the LIBRA memecoin. The agency stated the February post was made in a personal capacity and did not constitute an official act.
The ruling clarified that Milei’s X account, where the post appeared, is personally managed and predates his political role. It added that the account identifies him as an economist rather than a public official, meaning the post is protected as a private expression under the constitution.
The investigation had been launched after LIBRA’s price soared and then crashed following Milei’s endorsement, which linked to the token’s contract and a promotional site. Investors reportedly lost millions, and allegations of insider trading surfaced.
Although the Anti-Corruption Office cleared him, a separate federal court investigation remains ongoing, with Milei and his sister’s assets temporarily frozen.
Despite the resolution, the scandal damaged public trust. Milei has maintained he acted in good faith, claiming the aim was to raise awareness of a private initiative to support small Argentine businesses through crypto.
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FIFA has launched its own blockchain using Avalanche’s Subnet technology, ending its previous partnership with Algorand. The shift allows FIFA full control over how its Web3 products—including digital collectibles, games, and fan platforms—are developed and integrated.
The move also brings improved scalability and compatibility with Ethereum-based tools.
By building on an EVM-compatible chain, FIFA now enables wallet support from widely used apps like MetaMask, lowering entry barriers for users globally. It also makes it easier for developers to build decentralised applications and connect to broader DeFi and NFT ecosystems.
The blockchain can scale independently, a key advantage during major events like the World Cup.
FIFA Collect has fully migrated to the new blockchain, offering faster transactions and new utility features, such as NFT-based perks tied to real-world events. A new arcade-style mobile game, FIFA Rivals, launches in June and will let fans trade in-game NFT cards on the Mythos chain.
FIFA’s blockchain now supports interactive and tokenised experiences, turning football fans into participants with digital ownership and direct influence.
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Switzerland’s Federal Council has approved a bill to enable automatic exchange of crypto asset information with 74 partner countries. The bill, announced on 6 June, is expected to come into effect in January 2026, with the first data exchanges likely to begin in 2027.
The move aims to improve tax transparency and crack down on cross-border tax evasion. Countries set to receive Switzerland’s crypto data include all EU member states, the United Kingdom, and most G20 nations.
However, the United States, China, and Saudi Arabia are notably excluded from the list, as confirmed by the Swiss Federal Government’s official X account.
Only countries that agree to exchange similar crypto asset data with Switzerland and comply with the OECD’s Crypto-Asset Reporting Framework (CARF) will be included.
The framework requires service providers such as exchanges and wallets to collect users’ tax identification details and report relevant crypto transactions annually. Before the data-sharing begins, Swiss authorities will also verify that all partner states meet CARF standards.
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The public fallout between Donald Trump and Elon Musk has triggered a surge in memecoin activity, with trading volumes soaring to over $355 million in the past 24 hours. The top five memecoins linked to the feud accounted for 64% of the $556 million total daily volume, according to data from DEX Screener.
‘Official Trump’ led the pack, generating around $228 million in trading volume and reclaiming a $2 billion market cap. Other popular tokens included ‘Kill Big Beautiful Bill’ with nearly $131 million traded, ‘President Vs Elon’ with about $30 million, and ‘Official Musk’ at $22 million.
A newly launched memecoin, ‘new political party,’ also attracted close to $10 million on its first day.
The spike followed a sharp social media exchange where Trump threatened to end Musk’s government subsidies, and Musk fired back with allegations and calls for political change. The dispute has introduced fresh volatility to the memecoin market, with traders closely watching social platforms for further developments.
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Deutsche Bank is deepening its involvement in digital assets, with plans under review to issue its own stablecoin or join an industry-wide initiative. The bank is evaluating tokenised deposits to help modernise payments, said Sabih Behzad.
Stablecoins and tokenised deposits are becoming more attractive as banks search for faster and more cost-efficient payment methods. Regulatory progress in the EU and US is boosting banks’ confidence to enter the space.
Banco Santander and JPMorgan are also expanding their digital payment efforts, signalling growing momentum in the sector.
Deutsche Bank has already taken several steps in the crypto space. The bank invested in Partior, partnered with Taurus for custody services, and joined Project Agorá to explore cross-border tokenisation.
Market forecasts point to rapid growth. Citigroup expects the stablecoin market to rise from nearly $240 billion today to more than $2 trillion by 2030, fuelled by regulatory clarity and rising adoption by both private and public sectors.
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Dogecoin has taken a sharp bearish turn, with analysts warning of a potential 66% drop in value following a public clash between Elon Musk and US President Donald Trump.
The cryptocurrency, which has often rallied on Musk’s endorsements, is now facing its third consecutive weekly decline. DOGE is currently trading at $0.17, with bearish technical patterns pointing toward a possible slide to $0.06.
Trump has since threatened to end Musk’s federal contracts and subsidies, prompting the billionaire to respond on X (formerly Twitter) with fierce criticism, including calls for impeachment and mockery of Trump’s budget bill. The fallout has rattled crypto markets, where Musk’s influence is particularly strong.
Historically, Dogecoin has surged on Musk’s backing—from Tesla’s acceptance of DOGE for merchandise in 2022 to Twitter’s temporary rebranding with the memecoin’s logo in 2023.
It also rallied following Trump’s 2024 election win, which Musk vocally supported. The current breakdown in their alliance, however, appears to have reversed that trend.
Technically, DOGE has broken below key support levels, forming a bear flag pattern that analysts say could trigger a further decline to $0.06.
Indicators like the RSI have also turned negative, suggesting continued selling pressure in the short term as traders digest the political drama and shifting market sentiment.
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