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Dogecoin News Update: Argentina Sees Spike in Dogecoin Usage While Prices Dip Amid ETF Developments and Large Holder Sell-Offs

Dogecoin News Update: Argentina Sees Spike in Dogecoin Usage While Prices Dip Amid ETF Developments and Large Holder Sell-Offs

Bitget-RWA2025/11/30 03:44
By: Bitget-RWA
- Argentina's Dogecoin adoption surges amid 31% inflation, with crypto trading hitting $93.9B as an alternative to the volatile peso. - Grayscale's DOGE ETF launch failed to boost prices, as whale sales of 7B tokens created supply overhangs and technical indicators signaled bearish trends. - BBVA Argentina's Q3 report highlighted economic challenges including 70% peak deposit rates and rising NPLs, reinforcing crypto's appeal as a value store. - Long-term adoption depends on regulatory clarity and market s

Dogecoin Gains Traction in Argentina Amid Soaring Inflation

As inflation in Argentina soared to 31% in 2025, the use of Dogecoin (DOGE) for payments has accelerated, reflecting a growing shift toward digital currencies. Data from Chainalysis reveals that between July 2024 and June 2025, crypto trading volumes in the country reached $93.9 billion, highlighting a move away from the unstable Argentine peso. This pattern mirrors trends seen in other inflation-hit countries such as Turkey and Nigeria, where cryptocurrency adoption has also surged. For many Argentinians, turning to Dogecoin represents a strategy to protect their wealth from currency devaluation and strict capital controls.

Dogecoin and Argentina Economic Trends

Market Impact of Grayscale’s DOGE ETF

The introduction of Grayscale’s DOGE ETF (GDOG) on the New York Stock Exchange has brought new dynamics to the Dogecoin market. Despite this milestone, DOGE’s price slipped by 1.4% after the ETF’s debut, struggling to surpass the $0.1495 resistance and finding only brief support at $0.144. Analysts point out that large holders—wallets with 10 to 100 million DOGE—offloaded nearly 7 billion tokens between September and November, creating excess supply that has dampened the impact of institutional interest. Technical signals remain bearish, with declining trading volumes during attempted recoveries and momentum yet to reverse the downward trend.

Economic Pressures Drive Crypto Adoption

Argentina’s challenging economic landscape continues to influence financial decisions. BBVA Argentina’s third-quarter 2025 report noted a peak deposit rate of 70% and a rise in nonperforming retail loans. Although the bank is maintaining its loan growth target of 45–50% for the year, it faces persistent macroeconomic challenges, including a drop in inflation-adjusted net income and a high cost of risk at 6.63%. These factors are pushing more Argentinians to consider cryptocurrencies as a safeguard for their assets, though the future of Dogecoin’s adoption will depend on regulatory developments and market stability.

Outlook for Dogecoin and the Crypto Market

Looking forward, traders are closely watching ETF inflows and Bitcoin’s performance, as these broader market factors continue to shape Dogecoin’s path. Sustained institutional interest and ongoing inflation could reignite enthusiasm for DOGE in Argentina. However, the near-term technical picture remains uncertain; if Dogecoin falls below $0.144, it could decline further toward $0.138.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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