Crypto exchanges Coinbase and Gemini are close to securing regulatory approvals granting them access to operate across the EU, Reuters reported on June 16, citing people familiar with the matter.

According to the report, the expectation has intensified tensions among national regulators over the speed and oversight of new licensing under the bloc’s landmark crypto framework.

The EU’s Markets in Crypto-Assets (MiCA) regulation, in force since early this year, allows any member state to issue a license that unlocks the entire 27-nation market.

While hailed as a step toward aligning crypto oversight with traditional finance, some regulators privately warn that inconsistent enforcement risks creating regulatory blind spots for an industry valued at roughly $3.3 trillion.

Gemini looks for Malta approval

According to two sources, Gemini is close to receiving approval from Malta, which has already signed off on OKX and Crypto.com licenses within weeks of MiCA’s rollout. The country argues its quicker process stems from years of experience supervising crypto businesses.

A spokesperson for the Malta Financial Services Authority told the newswire that four crypto licenses have been issued to date, adding that stringent money-laundering checks remain in place.

Meanwhile, one source revealed that the European Securities and Markets Authority (ESMA) has examined Malta’s licensing procedures and is preparing an internal report.

ESMA declined to comment on the matter.

France’s financial markets regulator has publicly cautioned that ESMA’s lack of direct licensing power could spark a “race to the bottom,” as countries compete to attract lucrative crypto business.

Coinbase eyes Luxembourg license

Luxembourg is also expected to grant a license to Coinbase, marking the first approval for a US-listed crypto firm under MiCA.

Coinbase, now part of the S&P 500, employs around 200 staff across Europe and plans to expand its Luxembourg office by more than 20 people this year, a company spokesperson said.

Luxembourg’s financial supervisor did not comment on the pending application, but one official familiar with the matter rejected suggestions that the country’s standards were too lenient, arguing some critics are motivated by competition to lure crypto firms elsewhere.

The EU’s internal split over licensing comes as lawmakers debate expanding ESMA’s authority to ensure consistent enforcement of MiCA rules amid the risks posed by the US deregulating the industry.

While Brussels sets regulatory frameworks, national agencies retain licensing power, a system now under pressure in one of the world’s fastest-moving financial sectors.

The outcome of these approvals could shape how Europe balances investor safeguards with ambitions to be a global crypto hub, as memories of past industry scandals, such as FTX’s 2022 collapse, still loom large over regulators’ efforts to keep pace with innovation.

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Dogecoin’s once-upbeat trading crowd has been blindsided by an unlikely catalyst: an increasingly personal clash between two of the token’s highest-profile enthusiasts, Elon Musk and U.S. President Donald Trump.

As their barbs ricocheted across X and Truth Social in recent days, fresh regulatory and political worries surfaced, draining risk appetite and pushing the DOGE price more than 10% lower to an intraday trough near $0.17.

With a jump in 24-hour turnover to about $1.63 billion, that slide has cut Dogecoin’s market share to 0.83% of total crypto value, its weakest dominance reading in two months.

Musk-Trump Feud Saps Meme-Coin Morale

The feud mushroomed over just three days. Tensions flared Tuesday when Musk publicly branded Trump’s signature “big, beautiful” tax-and-spending package a “disgusting abomination,” stunning Republican allies.

By Thursday, the billionaire had dredged up years-old GOP warnings from Trump about ballooning deficits, prompting Trump to threaten Musk with losing his lucrative federal contracts for SpaceX and Tesla.

Allies on both sides piled in through Friday, amplifying the spat and highlighting how quickly a long-standing alliance (Musk was an Oval Office regular only weeks ago) can curdle when big-ticket legislation is at stake.

DOGE Price On-Chain and Market Data Point to Waning Confidence

Blockchain analytics show a sharp uptick in coins moving from long-term wallets to exchanges, echoing the bearish narrative in derivatives desks where funding rates have drifted negative.

Four-hour Bollinger Bands confirm heightened volatility: the DOGE price kissed the lower band at $0.17 on heavy volume before clawing back toward the midline.

Meanwhile, the Relative Strength Index sank into oversold territory last week and now hovers at 39.7—a tentative uptick that hints at bargain hunting but falls short of signaling a decisive reversal.

Technical Picture: DOGE Price Support Holds but Resistance Looms

Technically, Dogecoin continues to build a fragile base on the $0.1670 to $0.1700 horizontal support level after retracing roughly 35 % from its early-May peak.

Today’s rebound left spot at $0.179, yet the token still trades beneath a formidable confluence zone at $0.1797 to $0.1850, which aligns with the Fib 0.618 retracement and a stack of bearish moving averages: a 20-day EMA at $0.2016, 50-day at $0.2069, and 100-day at $0.2011.

Unless the DOGE price can close a daily candle above the 20-day EMA, rallies will likely be dismissed as dead-cat bounces rather than a bona fide trend change. Failure to conquer that ceiling would refocus attention on the springboard support.

A sustained break below $0.1670 would expose the Fib 0.786 level at $0.1576, with little chart structure until the early-April swing low around $0.13, an air pocket that could see another 30% shaved off the DOGE price if bearish momentum accelerates.

What Could Drive Dogecoin’s Next Move

In the immediate term, sentiment headlines may matter as much as candlesticks.

A public reconciliation between Musk and Trump, or even a fresh meme-worthy endorsement tweet, could reignite retail appetite and push the DOGE price through $0.1850, opening the way toward $0.20 and the clustered 20 to 100-day EMAs.

Conversely, any escalation in the feud, fresh regulatory chatter, or broader risk-off moves in crypto could see sellers test dip-buyers’ patience yet again. For now, Dogecoin sits on a knife-edge: fundamentals lean bearish while momentum oscillators hint at recovery potential.

Traders with a short time frame may scalp long positions toward $0.1850, but given the precarious backdrop, tight stops below $0.1700 are essential. Swing traders might instead await a daily close above $0.20 to confirm trend reversal, or look to accumulate only if the DOGE price washes out toward $0.1576, where risk-reward improves dramatically.

Until one of those decisive signals emerges, patience or strictly defined risk appears to be the most prudent course.

Number of Shiba Inu millionaires It continues to decline as recent market crashes dampen owners’ profits. In particular, the chain data reveals that the total number of Shiba inu billionaires is below 1,000. But they still control a significant portion of the supply of meme coins.

Shibu Millioniol is below 1,000

Next A broader market crash Such a meme coin had a major impact Shiv and Dogea new report reveals that the number of Shiba inu billionaires whose wallets range between $100,000 and $10 million has dropped significantly. There is IntotheBlock, a blockchain analysis company It has been reported This means that the number of addresses holding siv tokens worth $10 million has dropped to 2,470. these Deep Pocket Token Holder It manages shivs worth $3.5 billion in bulk.

Related readings

ITB data that broke this shows that wallets holding between $100,000 and $1 million have plummeted to 1,059 addresses. It emphasizes that for wallets with SHIBs worth between $1 million and $10 million, ITB only has 880.25 addresses remaining. This means that all addresses in SHIB, which exceed $1 million, have a total balance of $2.8 billion.

Earlier this week, 75 addresses held exactly $10 million worth of shiv tokens, with the total network exceeding $13 billion. However, at the time of writing, it has dropped to 74 with a $116.9 billion network. This incredible amount of addresses Shiv Token These investors, often called whales, tend to affect the market when they make big moves.

Furthermore, addresses for this number of selections Controls the supply of large amounts of Shiba Inu. It’s not even close to half the total supply of memecoin, but it’s still a pretty stash that could have an impact Market dynamics.

Recent decline Shiba Inu millionaires This is reflected in past ITB data. Just two weeks ago, it held 93 addresses and over $10 million in shiv tokens, exceeding its current count. Additionally, it holds SHIBs worth between $1 million and $10 million compared to the current 880.25 addresses that hold the same amount.

This significant decline in the number of Shiba inu billionaires, both in high and value SHIB holdings, suggests a change in the market, with owners selling shares held and selling positions to exit It may be. The decline is also due to recent Shiba inu price crash Continuous volatility.

Shiba Inu Price tries to recover

At the time of pressing, the Shiba Inu price is trading at $0.0000165. Despite experiencing a massive market decline, prices have been pushed down by more than 20% Shiba inu is resilientattempts to break through the bearish trend to begin recovery.

Related readings

Over the past week, Shiba Inu has grown by more than 9.8%, reflecting profits of almost half of its 22% loss last month. Based on CoinMarketCap data, Meme Coin is still green, recording a 1% increase. but, Siv’s trading volume It remains relatively low, marking a 41% decrease.

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