Dogecoin News Today:

Dogecoin (DOGE) has emerged as a focal point for market speculation, driven by the launch of its first official treasury and a bullish technical outlook. On Thursday, DOGE's price rose 10% to an intraday high of $0.224 from monthly lows of $0.205. This movement follows the establishment of a $175 million DOGE treasury by CleanCore Solutions, a Nebraska-based company that specializes in aqueous ozone cleaning systems. CleanCore has become the first publicly traded company to use Dogecoin as its primary treasury reserve asset, a move backed by over 80 institutional and crypto-native investors. This initiative, supported by the Dogecoin Foundation and the House of DOGE, marks a significant step toward institutional adoption of the cryptocurrency [1].

The new treasury initiative mirrors similar strategies adopted by companies holding Bitcoin as their primary reserve asset, potentially unlocking billions in institutional inflows. The initiative's backing from the Dogecoin Foundation suggests a growing institutional interest in DOGE, akin to Bitcoin's ETF-driven success. Analysts have highlighted that the move could attract regulated capital into the Dogecoin market. This sentiment is further reinforced by the approval of the 21Shares Dogecoin ETP in Europe and a 79% probability of a spot ETF approval in 2025, as indicated by data from Polymarket [1].

Technically, DOGE is trading within a bullish megaphone pattern on the weekly chart, suggesting the potential for a 550% rally to $1.40 from current levels. The pattern began to form in June, with the price rebounding from the lower trendline at $0.15. Analysts like Bitcoinsensus and Barry ChartMonkey have noted the pattern's historical reliability in driving upward price waves. Bitcoinsensus observed that DOGE's price movements have historically followed impulsive upward trends, each wave surpassing the previous one in magnitude. Barry ChartMonkey reinforced this view, suggesting a potential move to the 3.618 Fibonacci extension at $1.15. The weekly chart analysis highlights DOGE's potential to break out of its recent consolidation phase [1].

On the daily chart, Dogecoin consolidates within a symmetric triangle, with a breakout above the $1.225 resistance level likely to confirm a bullish trend. The resistance level coincides with the 50-day simple moving average, a key technical indicator for traders. A successful breakout could see DOGE reach $0.37, representing a 72% increase from its current price. This development would prevent a potential drop back to the $0.19-$0.16 support zone, offering a buffer against further price declines [1].

The broader crypto market is also poised for regulatory changes that could accelerate the launch of new investment products, including DOGE-based ETFs. Major U.S. exchanges proposed generic listing standards for commodity- and crypto-based ETFs in late July, with the SEC expected to approve them soon. This regulatory shift could streamline the approval process for new ETFs, including those tracking altcoins and memecoins like Dogecoin. The potential approval of a spot DOGE ETF in 2025, with a 79% probability according to Polymarket, could further fuel institutional demand for the asset [2].

Despite the positive technical and institutional developments, analysts caution that the market remains highly speculative. The DOGE price target of $1 or higher by late 2025 is contingent on continued institutional adoption and regulatory clarity. The recent rise in price has also triggered increased market participation, with several fund shops filing to launch new ETFs targeting DOGE and other altcoins. However, investors are reminded to conduct their own research, as all trading and investment decisions carry inherent risks [1].

Source:

[1] Dogecoin's 'next wave' targets $1.40 as first DOGE treasury is launched (https://cointelegraph.com/news/dogecoin-next-wave-targets-1-40-first-doge-treasury-is-launched)

[2] Dogecoin ETFs—and More—Could Land Soon if the SEC ... (https://finance.yahoo.com/news/dogecoin-etfs-more-could-land-090000281.html)