'Doge Is Everywhere': Dogecoin Team Celebrates Major Adoption Milestone in Buenos Aires

Source: CryptoNewsNet Original Title: ‘Doge Is Everywhere’: Dogecoin Team Reacts to Big Adoption Milestone Original Link: https://cryptonews.net/news/altcoins/32091308/

Dogecoin Adoption Milestone

Dogecoin, the first and largest meme cryptocurrency, has reached a significant adoption milestone. Buenos Aires’ “BA Cripto” policy package now allows residents and businesses to settle city taxes and administrative fees using cryptocurrencies, including Dogecoin.

Reacting to this development, the Dogecoin official account tweeted “Doge is everywhere,” highlighting the expanding use cases for the cryptocurrency.

Buenos Aires as a Crypto Hub

Buenos Aires continues to position itself as a leading crypto hub. A major cryptocurrency exchange recently signed a collaboration agreement with the city government to promote safe and responsible cryptocurrency adoption. As part of this agreement, an awareness initiative called “Live Crypto in Your City” was launched to inform residents about how cryptocurrencies work and how they can be used securely. The campaign highlights practical use cases for digital assets, helping more citizens experience crypto as a tool for empowerment.

Institutional Adoption Accelerates

Institutional interest in cryptocurrencies continues to grow. This week, Vanguard Group, the world’s second-largest asset manager, announced its decision to allow ETFs and mutual funds that primarily hold cryptocurrencies to be traded on its platform, reversing a longstanding position. Additionally, Bank of America informed institutional customers that they may allocate 1%-4% of their portfolios to digital assets.

Market Performance and Volatility

Dogecoin reversed a two-day rally on December 4th, with the decline entering its second day. The cryptocurrency dropped 3.53% in the last 24 hours to $0.144 and declined 4.25% on a weekly basis.

U.S. macroeconomic data and institutional developments influenced market sentiment and volatility at the start of the week. The CME launched a VIX-style implied volatility index for Bitcoin futures, with other altcoins to follow.

However, momentum remains soft, with recovery attempts fading in a sign that liquidity is still thin above current levels. Liquidation data reveals a total of $298 million over the past day across the crypto market, with nearly $218 million in long liquidations and $80.13 million in shorts.