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Solana (SOL) is under intense market pressure after a massive $201 million token transfer on November 17 sparked concerns about further losses.

While institutional interest in Solana-based ETFs remains strong, technical indicators point to a fragile market structure that could send SOL toward the $125–$120 region if buyers fail to regain momentum.

$201M Dump Raises Alarms as Solana Extends Downtrend

Forward Industries, Solana’s largest corporate holder, moved 1.44 million SOL, worth roughly $201.34 million, to Coinbase Prime earlier this week, according to Onchain Lens. The transfer triggered speculation of an impending major sell-off, especially as Solana has already declined nearly 50% over the past two months.

Although it remains unclear whether the tokens were sold or repositioned, the market reaction was swift. SOL briefly dipped to $128 before recovering to the $137 range. Trading volume, however, has declined by 38% to $5.65 billion, indicating elevated trader anxiety and aggressive repositioning.

Technically, SOL remains in a confirmed downtrend after losing the critical $155 support level. Indicators such as the Chaikin Money Flow (CMF) at -0.18 and a bearish Supertrend signal show persistent selling pressure.

If the price remains below the current consolidation zone, analysts warn of a potential 16% drop, placing $120 firmly in sight.

Institutional Inflows Persist Despite Price Weakness

The irony in Solana’s current situation is striking. Despite a weekly drop of 11%, institutional confidence is slowly picking up pace. Solana ETFs have rapidly expanded across major U.S. exchanges, with Fidelity, Canary, VanEck, 21Shares, and Bitwise all launching new SOL products in recent days.

Fidelity’s $FSOL recorded $2.07 million in day-one inflows, while total net inflows across all U.S. Solana ETFs have soared to $420.4 million. Meanwhile, November 18 marked the 15th consecutive day of positive ETF inflows, totaling $26.2 million, led by Bitwise’s BSOL.

This reflects a deeper narrative: institutional investors see Solana’s long-term fundamentals, speed, developer activity, and staking yields as compelling despite short-term volatility.

Key Levels: Can SOL Hold Above $130?

Analysts now highlight $125 and $120 as the most critical support zones. A failure to defend $130 could accelerate losses toward $120, with a deeper floor at $115. Conversely, a reclaim of $145, and ideally $160, would signal the first meaningful reversal in weeks.

For now, Solana sits at a crossroads. Heavy selling pressure on one side, surging institutional conviction on the other. The next few days may determine whether SOL stabilizes or slides deeper into bearish territory.

Cover image from ChatGPT, SOLUSD chart from Tradingview

Dogecoin is now moving closer than ever to joining the roster of cryptocurrencies with their own US-listed exchange-traded funds, and the timeline for the first launch is becoming clearer. 

After a series of regulatory filings and updates from major fund issuers, analysts now believe that the debut of the first Spot Dogecoin ETF is just days away. All signs now point to a launch window that could open as early as Monday, bringing the long-anticipated product to market far sooner than many expected.

Grayscale Positions Its Dogecoin ETF For A Close Launch

The clearest signal came after Grayscale updated its Dogecoin ETF filing, which started a 20-day countdown under the SEC’s new fast-track listing rules. These rules allow certain crypto ETFs to go live without the lengthy and restrictive approval process that previous products faced. 

Unless the SEC steps in with an objection, the end of this 20-day window will become the launch date of the proposed ETF. Based on the timing of Grayscale’s amendment, the first Spot Dogecoin ETF could debut as early as Monday, November 24.

Eric Balchunas, senior ETF analyst at Bloomberg, provided the clearest timeline so far. He stated: “Based on 20 20-day clock, I believe Grayscale will be out with the first Doge ETF in a week, 11/24.”

His comment follows the expectation that the first Dogecoin ETF could go live before the end of November. Balchunas also shared the S-1 document image to show the structure of the filing that initiated the countdown.

Solana ETF Approval Shows The New SEC Pathway Is Working

The optimism surrounding Dogecoin’s ETF launch grows stronger when looking at what happened with Solana. VanEck successfully launched its Solana ETF this week with staking rewards and temporarily waived fees to attract early inflows. Fidelity also stepped into the arena with its own Solana ETF, FSOL, which recorded $2.07 million in inflows on its first trading day. 

That product went live under the same SEC listing framework now guiding Dogecoin’s filing. Its smooth debut confirmed that the new process is functioning as intended, with issuers able to bring crypto ETFs to market far more quickly than in earlier cycles. This sets a meaningful precedent because Dogecoin is next in line to benefit from that same pathway.

Although Grayscale is expected to launch first, it may not remain the only DOGE ETF for long. Bitwise submitted an amendment to its own DOGE fund earlier in November, which activated a similar 20-day timeline. If the schedule holds, Bitwise’s Spot Dogecoin ETF could list the following week.

At the time of writing, Dogecoin is trading at $0.1586, up by 2% in the past 24 hours.

Japan has officially elevated Shiba Inu (SHIB) into its highest-tier crypto compliance category, placing it alongside Bitcoin and Ethereum. This milestone reflects a clear shift in how Japanese regulators view SHIB, recognizing it as more than a speculative token and validating its advancement into a government-approved digital asset. The designation is expected to reshape market perception, facilitate faster exchange listings, and enhance Shiba Inu’s readiness for participation at an institutional level within one of the world’s most tightly regulated financial markets.

Shiba Inu’s Green-List Recognition Alongside Bitcoin And Ethereum

The Japan Virtual and Crypto Assets Exchange Association (JVCEA), operating under the Financial Services Agency, has added SHIB to its Green List. This whitelist is reserved for assets demonstrating strong liquidity, broad exchange presence, and consistent operational performance. Being included on the Green List signals regulatory confidence and allows domestic exchanges to list Shiba Inu without undergoing lengthy, asset-specific vetting procedures. For ecosystem operators and liquidity providers, this reduces barriers to entry, improves the efficiency of capital allocation, and expands Shiba Inu’s reach across Japan’s compliant digital-asset infrastructure.

The Green List also carries significant symbolic weight. Only a handful of digital assets—including Bitcoin and Ethereum—have historically received this designation, according to the JVCEA’s November 12, 2025, update. Being recognized alongside these benchmark cryptocurrencies positions SHIB as a more credible and professionally managed asset, helping it shed some of the skepticism associated with meme-based tokens.

Japan is also reviewing its cryptocurrency taxation framework. Current policy discussions propose reducing the tax rate on approved, Green-Listed assets from the highest income brackets to roughly 20%. If implemented, this reform could materially enhance Shiba Inu’s appeal to both retail and institutional investors, creating a strong incentive for participation in a lower-tax, regulated environment. Analysts suggest that aligning regulatory recognition with favorable tax treatment could lead to a significant rise in compliant inflows once the reform is enacted, further supporting liquidity and adoption.

Impact On Market Positioning And Future Capital Flows

This recognition comes at a critical time for Shiba Inu, which has been upgrading its infrastructure and reorganizing its ecosystem to move beyond a meme-asset reputation. Japan’s formal approval confirms SHIB’s improved risk profile and signals to global markets that it has reached a more regulated, professionally governed stage of adoption. 

Licensed exchanges in Japan can now deploy new Shiba Inu markets, structured products, and liquidity channels with shorter compliance timelines. Increased accessibility encourages higher transactional activity, strengthens liquidity, and improves SHIB’s suitability for institutional participation. The Green-List status also positions SHIB for future inclusion in regulated investment vehicles, such as exchange-traded notes and custodial products, pending further approvals.

By joining Bitcoin and Ethereum in Japan’s top compliance tier, Shiba Inu secures a significant step forward in global credibility, institutional acceptance, and its potential to attract future capital flows.

Bitcoin mining firm Bitfury announced plans to step beyond mining with a major new investment push.

According to reports, the company will launch a $1 billion technology fund after 14 years focused mainly on emerging tech such as artificial intelligence, quantum computing and decentralized identity systems.

The move signals a change of direction for the firm founded in 2011, which built its reputation on hardware and data center operations.

The $1B Fund Will Be Deployed Over Several Years

According to a press release, Bitfury intends to put roughly $200 million to work in the first year, with the remainder to follow over the next several years.

The firm says some capital could be deployed as early as Q4 2025. Company leaders told reporters that the money will come from a mix of returns from mining operations, past investment gains and outside backers.

Val Vavilov, the chief executive, has been named in reports as a key proponent of the shift.

The Fund Will Target AI, Quantum And Identity Tech

Bitfury has already invested in related infrastructure. Based on reports, the group helped build companies that handle data center cooling and AI hardware — assets that could support startups that need heavy compute.

Investors and founders in those sectors were quoted as saying Bitfury’s experience in physical infrastructure gives it a practical edge when backing capital-hungry projects.

Still, success is not guaranteed. Finding the right startups will be hard work, and competition from established venture firms is strong.

Why The Company Is Changing Focus

According to the company’s public comments, leaders see a link between secure, transparent systems and next-generation AI tools.

They argue that building technology that protects user identity and privacy will be important as AI systems grow more powerful.

The fund will emphasize what Bitfury calls “ethical emerging technologies,” a phrase the company uses to describe projects that combine technical innovation with safeguards for users.

Existing Strengths And Risks

Bitfury’s past moves show it can build hardware and run big operations. Reports note its ties to outfits working on immersion cooling and AI chips, which could make the company a useful backer for founders who need both money and infrastructure.

But running a large investment program is different from running mines. Picking winners in AI and quantum computing is competitive. Market swings, fast technology change, and unclear rules around crypto and identity systems add to the challenge.

Governance, Timing And What Comes Next

Based on reports, the fund’s governance model and detailed investment rules have not been fully public. Observers say those details will matter to prospective startups and co-investors.

Bitfury plans to move cautiously at first while still making a sizable first-year commitment. Some investors welcomed the news, while other analysts urged caution.

For now, Bitfury’s plan is clear in scale and ambition: $1 billion, early deployment in Q4 2025, and a first-year push of $200 million. How well the firm adapts from miner to investor will be watched closely by the tech and crypto communities.

Featured image from Shutterstock, chart from TradingView