TL:DR;

• Although the entire cryptocurrency market corrected severely in the past 36 hours, DOGE is among the poorest performers as its price dumped by more than 25%.
• Many analysts weighed in on DOGE’s upcoming price developments, with some predicting a further drop to key resistance lines such as $0.22.

The price charts across the entire cryptocurrency market have been in a deep red state ever since yesterday’s FOMC meeting. Although the Fed indeed cut the interest rates by 25 basis points as expected, its Chair, Jerome Powell, warned that there might not be any reductions in 2025 and said the central bank is not permitted to buy BTC, despite Trump’s promises.

As it typically happens, the altcoins are hit harder than BTC, but some have bled out more heavily than others. Such is the case with the larger meme coin.

Dogecoin traded above $0.41 on Tuesday, but the market-wide correction pushed it south to $0.34 yesterday. After a minor bounce-off to $0.365, the asset slumped hard today as well, dumping to a 5-week low of $0.31. Thus, the OG meme coin shed over 25% of its value in about 36 hours.

Many crypto analysts believe the asset’s correction is not over. Jake Wujastyk told his nearly 300,000 followers that DOGE could flash crash below $0.27.

Another popular X account for crypto analysis, Rose Premium Signals, shared a chart showing that Dogecoin’s decline could culminate with a nosedive to the key support area at $0.22 before the asset resumes its bull run that started after Donald Trump’s victory in the 2024 US presidential elections in early November.

#Dogecoin ( $DOGE/USDT) is undergoing a corrective phase, potentially testing the key support at $0.22076. A rebound from this level could lead to targets at $0.40894 and $0.65557, indicating a potential 165% increase.” pic.twitter.com/lDrLJkWxk4

— Rose Premium Signals (@VipRoseTr) December 19, 2024

A federal judge in California has denied BiT Global Digital Ltd.’s request for a temporary restraining order (TRO) to prevent crypto exchange Coinbase from delisting wrapped Bitcoin (wBTC) from its platform.

US District Judge Araceli Martínez-Olguín ruled Wednesday that BiT Global failed to present sufficient evidence to demonstrate “imminent irreparable harm” if the delisting proceeds.

Coinbase Cleared to Delist wBTC

The judge also criticized the speculative nature of BiT Global’s claims and noted the company’s delay in filing the complaint following Coinbase’s delisting announcement. The ruling was a setback for BiT Global, which manages wBTC – a token pegged to Bitcoin’s value that facilitates decentralized finance (DeFi) activities on blockchain networks like Ethereum.

Coinbase, which has supported wBTC trading since 2020, argued that its decision to delist the token was driven by concerns over its ties to Justin Sun, the founder of the Tron cryptocurrency.

Sun was charged with fraud and securities violations by the US Securities and Exchange Commission (SEC) in March 2023. In its legal filing, Coinbase stated that the association with Sun posed an “unacceptable risk,” a claim BiT Global did not address in its complaint or TRO request.

BiT Global ‘Lost’ its Bid to Halt wBTC Delisting

Paul Grewal, Coinbase’s chief legal officer, welcomed the court’s decision, stating on X that BiT Global “lost” its bid to prevent the delisting.

“BiT Global lost. Today they asked the Court to order us to stop delisting wBTC to protect our customers. Today the Court said no. We appreciate the Court’s consideration and the outstanding advocacy of Sonal Mehta and her team at WilmerHale.”

The exchange was represented by Sonal N. Mehta and her team at WilmerHale, who argued that Coinbase’s actions were necessary to protect its customers. As such, the latest decision allows Coinbase to proceed with delisting wBTC, a token reportedly linked to more than $13 billion in Bitcoin value.

Looking ahead, the crypto exchange has approximately 30 days to file a motion to dismiss the broader claims in BiT Global’s lawsuit, which include allegations of “attempted monopolization” under the Sherman Act.

[PRESS RELEASE – Zug, Switzerland, December 19th, 2024]

Acurast, a leader in decentralized confidential cloud computing, announces the launch of Acurast Processor Lite for iOS, now available on the Apple App Store. This application allows iPhone users to share their device’s computing power with Acurast’s decentralized confidential cloud network, offering an opportunity to earn rewards in return.

By harnessing the advanced processors in mobile devices, Acurast makes it possible for regular phones to operate as powerful computing providers. With this new expansion to iOS, Acurast’s ecosystem grows bigger, welcoming iPhone users into a network that’s changing the way cloud computing is done. This shift marks a step forward in accessibility and control over how compute power is managed worldwide.

Acurast also takes a unique, sustainable approach: repurposing mobile phones with damaged screens or unused older models into affordable compute resources. These upcycled devices become cost-effective alternatives to traditional servers, bringing sustainability into the heart of cloud infrastructure.

Users providing compute power through Acurast Processor Lite can earn rewards in the form of cACU tokens. Each user can earn up to 250 cACU per month in bootstrapping rewards simply by running the Processor connected to the internet. Additional rewards are earned whenever developers deploy applications on the Acurast Cloud and utilize the user’s Processor resources.

Key Features of Acurast Processor Lite for iOS:

●      Providing Compute Power Used By Developers To Deploy Their Applications: Getting started with users’ everyday phones or onboard upcycled devices.

●      Broading Compatibility: Supports iPhone 6s and newer models, allowing a wide range of users to participate.

●      Secure and Private: Maintains data security and user privacy, giving users peace of mind.

iPhone users can join the Acurast Cloud Rebellion by downloading Processor Lite iOS. Whether with an everyday phone or dedicated upcycled devices, joining means earning rewards and supporting a shift toward a more decentralized, sustainable, and user-driven confidential cloud infrastructure.

Alessandro De Carli, Co-Founder of Acurast shared, “With the launch of Acurast Processor Lite for iOS, we’re taking a significant step toward democratizing cloud computing. By enabling iPhone users to contribute their phones’ compute power, we’re building a more decentralized, secure, and confidential cloud infrastructure. This is not just about technology; it’s about empowering individuals to be part of a global movement that redefines how we think about and utilize computing resources.”

Users can download Processor iOS Lite here: Processor iOS Lite

About Acurast

Acurast is transforming the cloud landscape by championing mobile-powered disruption in decentralized, confidential, and accessible computing. By enabling individuals to contribute compute power from their phones, Acurast is building a decentralized, serverless cloud that democratizes access to computing resources.

Press Contact:

Pascal Brun

Co-Founder

Acurast Association

Email: pascal@acurast.com