Dogecoin posted an 11% surge in 24 hours, powered by institutional strikes, bullish chart alerts, and rising altcoin momentum.
The rally comes amid a broader market shift away from Bitcoin dominance, with DOGE rising as a standout performer.
Bit Origin broadcasts $500M Dogecoin reserve technique
The first catalyst got here from Bit Origin (Nasdaq: BTOG), which unveiled plans to construct a $500 million Dogecoin treasury. The technique consists of elevating $400 million in fairness and $100 million in convertible debt, positioning DOGE as a core reserve asset—mirroring MicroStrategy’s strategy with Bitcoin. This marks the primary occasion of a U.S.-listed public firm declaring Dogecoin as a treasury holding, fueling confidence in its long-term institutional position.
Technical breakout targets $0.33
On the technical aspect, DOGE broke out of a descending broadening wedge sample on July 18. In keeping with dealer Tardigrade, the breakout above $0.21 units the stage for potential strikes to $0.25 and $0.33. Key indicators embrace an RSI of 72.04—robust however not but overheated—and rising MACD momentum at +0.0048.
Altcoins achieve floor as Bitcoin dominance fades
The altcoin market confirmed broad energy, with the Altcoin Season Index leaping to 47/100 and Bitcoin dominance sliding to 60.86%—down 1.3% this week. DOGE’s ratio towards BTC additionally climbed 8.2%, highlighting meme coin resilience throughout sector rotation.
Whereas DOGE eyes $0.25 as its subsequent resistance, its capability to take care of momentum might hinge on Bitcoin’s habits close to the $120K mark.
Kosta has been working within the crypto business for over 4 years. He strives to current completely different views on a given subject and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced protection of occasions and developments within the crypto area, offering data to his readers from a impartial perspective.
