Dogecoin (DOGE) exhibits mixed sentiment, driven by positive anticipation of a Solana ETF approval and growing payment adoption in South Africa, weighed against negative factors including CZ-related developments and strengthened South Korean regulations. DOGE declined 22.77% in the last 24 hours, with its Relative Strength Index (RSI) reaching 16.9, signaling a severely oversold condition. Overall market sentiment is cautious, expecting continued short-term volatility for DOGE. The broader market bias is bearish.

Fundamental Analysis This analysis examines the cryptocurrency market trends as of October 10, 2025, focusing specifically on their potential impact on the DOGE price. * Expanding Corporate Adoption of Solana (SOL) and Potential ETF Approval The growth of the Solana ecosystem and the possibility of ETF approval are heightening interest in altcoins broadly. Solana is gaining traction as a potential competitor to Ethereum, and its increasing adoption contributes to improved overall market liquidity. Progress in ETF approvals could attract further capital inflows from institutional investors, potentially exerting a positive influence across the altcoin market, including meme coins like DOGE. However, the direct impact on DOGE is likely limited and contingent upon a general improvement in market sentiment. * Kalshi Announces Global Expansion of Prediction Market Platform Kalshi's substantial funding and its planned rollout across 140 countries signify an expanding range of applications for blockchain technology. Prediction markets are emerging as a notable new form of financial market, and the growth of such platforms serves to diversify interest in the cryptocurrency space. While the direct effect on speculative assets like DOGE may be minor, the integration of blockchain technology into wider financial markets could enhance overall awareness of the crypto market, potentially offering indirect positive effects. * SWIFT's Blockchain Development Challenges Ripple The development of a blockchain-based payment system by the international payment network SWIFT signals a changing competitive environment in cross-border payments. Although Ripple's XRP has been a pioneer in this area, SWIFT's potential entry could reshape the market structure. While DOGE's utility as a payment method remains limited, the adoption of blockchain technology by established financial infrastructure like SWIFT could bolster the overall credibility of cryptocurrency payments. This might lay the groundwork for cryptocurrencies such as DOGE to achieve broader acceptance as payment solutions in the future. * Hacker Attack on Binance Co-founder's Google Account The cyberattack targeting the Google account of Binance co-founder CZ highlights the persistent security risks prevalent in the cryptocurrency industry. Such security incidents can erode market-wide confidence and adversely affect investor sentiment. Altcoins like DOGE, which tend to be more speculative than Bitcoin or Ethereum, are often more susceptible to the negative impacts of declining market sentiment. This news may increase overall market caution and could exert short-term downward pressure on the DOGE price. * Bitcoin: Potential Fall to $118,000 and Short-Term Recovery Outlook While the possibility of Bitcoin's price temporarily declining to $118,000 has been discussed, some perspectives suggest this downturn might be short-lived due to a potential reset in the futures market. Bitcoin acts as the benchmark for the entire cryptocurrency market, and its price trajectory significantly impacts other altcoins, including DOGE. A short-term dip in Bitcoin could add selling pressure to DOGE; however, the implied recovery outlook suggests the overall market might return to an uptrend following a brief correction. * South Africa Enables Crypto Payments at 650,000 Stores The partnership between Scan to Pay and MoneyBadger in South Africa, enabling cryptocurrency payments at over 650,000 merchants, marks a significant advancement in crypto adoption. The availability of Bitcoin, stablecoins, and other cryptocurrencies specifically points towards their growing acceptance as everyday payment methods. DOGE, supported by its robust community, also holds potential as a transactional currency. Such expansion trends could stimulate greater interest in altcoins, including DOGE, and potentially broaden their practical use cases. * South Korea Intensifies Seizure of Cryptocurrencies, Including Cold Wallets The South Korean National Tax Service's decision to enhance the seizure of cryptocurrencies, even those stored in cold wallets, from individuals with tax arrears indicates a global trend toward stricter regulatory enforcement concerning digital assets. This regulatory tightening can heighten market uncertainty and negatively influence investor sentiment. As altcoins like DOGE are potentially more vulnerable to regulatory risks, this development could translate into downward price pressure for DOGE. * EU Considers Euro-Denominated Stablecoins to Counter Dollar Dominance A proposal by the Managing Director of the European Stability Mechanism (ESM) advocating for the promotion of Euro-denominated stablecoins to challenge US dollar-based tokens suggests a potential shift in the role of digital currencies within international finance. The Eurozone's potential move to advance its own stablecoins could decrease reliance on the US dollar in the crypto market. Although DOGE is not pegged to the US dollar, such international developments might foster greater diversification and maturity in the global crypto market, potentially creating a more stable environment for altcoins like DOGE over the long term. * Bitdeer Strengthens Bitcoin Self-Mining Amidst Mining Rig Demand Slump Bitcoin mining firm Bitdeer's strategic move to bolster its self-mining operations in response to weakening demand for mining rigs signals evolving competitive dynamics within the mining industry. This suggests changing conditions related to mining profitability, where factors like mining difficulty and energy costs could also influence the mining of altcoins such as DOGE. However, given that DOGE mining typically requires less intensive capital investment compared to Bitcoin, the direct impact is anticipated to be limited. * Jack Dorsey Proposes Tax Exemption for Everyday Bitcoin Payments The proposal by Jack Dorsey, founder of Square (now Block), suggesting a tax exemption for small-value Bitcoin transactions is significant as a practical measure to promote Bitcoin for daily use. Establishing a 'de minimis' threshold is considered a key factor in encouraging the routine adoption of cryptocurrencies. DOGE, leveraging its community strength and distinct identity, also has potential as a payment instrument. Dorsey's initiative could potentially build momentum for the utilization of cryptocurrencies like DOGE in payments, possibly leading to an indirect increase in its value. Overall Summary The cryptocurrency market sentiment yesterday reflected a cautious stance, characterized by a mix of positive news, including Solana's expanding corporate adoption and the EU's consideration of Euro-denominated stablecoins, contrasted with negative developments such as the cyberattack on CZ's Google account and South Korea's reinforced crypto asset seizure measures. Bitcoin's price action remains a critical determinant of overall market sentiment, with indicators pointing towards potential short-term declines alongside prospects for recovery. In light of these factors, the DOGE price is expected to remain highly sensitive to prevailing market sentiment, likely continuing to experience short-term volatility. Nonetheless, news concerning the expansion of payment utility and ongoing technological advancements may serve as positive catalysts in the medium to long term.

Hacking incidents related to CZ and regulatory tightening in South Korea are undermining overall market confidence, increasing downward pressure on DOGE. Concerns regarding a short-term Bitcoin decline represent additional risk factors. While key support levels remain unclear at present, psychological thresholds and previous lows are likely to be closely watched. The primary concern is the deterioration of overall market sentiment.

Short-term (24-48 hours): Volatility is expected to persist, characterized by a tug-of-war between the anticipation of a rebound from oversold conditions and prevailing negative sentiment. Medium-term (1 week): The outlook will be significantly influenced by Bitcoin's price action and major regulatory developments or adoption news. Potential catalysts include the approval of a Solana ETF and developments in the cross-border payments sector.

Conclusion: Dogecoin has seen a sharp 22.77% decline, with its Relative Strength Index (RSI) dropping to 16.9, indicating significant technical weakness. While factors like CZ-related hacks and tightening South Korean regulations have dampened sentiment, positive catalysts such as expanding payment adoption in South Africa are also present. Consequently, the short-term market bias remains bearish. Despite expectations of a potential rebound, Bitcoin's ongoing volatility poses considerable downside risks. Investors are advised to avoid aggressive entries at this juncture, waiting instead for market stabilization and clear signals of a Bitcoin recovery. For those considering long positions, a strategy involving phased accumulation near recent lows is essential, complemented by strict stop-loss orders below breached levels. This week, Bitcoin's recovery is the primary focus. A strategic approach involves targeting pullbacks once Bitcoin confirms and solidifies its support levels. Continuous monitoring of regulatory developments, security issues, and market sentiment is crucial, alongside rigorous risk management. Professional investors are expected to remain unfazed by short-term volatility, capitalizing on opportunities with a long-term perspective and disciplined risk management.