Dogecoin News Today: Bit Origin Acquires 40.5M Dogecoin in Strategic Move to Become Largest Publicly Traded Holder

Bit Origin, a China-based pork processing company and Bitcoin miner, has completed the acquisition of 40.5 million Dogecoin (DOGE) for its crypto treasury, signaling a strategic shift to bolster its position as the largest publicly traded DOGE holder. Announced on July 21, 2025, the purchase follows the firm’s earlier declaration on July 17 to raise $500 million through equity and debt offerings to fund its expansion into DOGE treasury management. The move has drawn attention to DOGE’s price dynamics, which have remained within a $0.14–$0.29 range amid heightened institutional interest.

Technical analysis suggests that the 20-day simple moving average (SMA) at $0.21 acts as a critical support level, while resistance near $0.29 has seen consistent selling pressure. On July 21, the price retreated to the 20-day SMA after reaching a peak of $0.29, prompting buyers to initiate a rebound attempt. Analysts note that a sustained break above $0.26 and $0.29 could signal a new upward trend, potentially pushing the DOGE/USDT pair toward $0.44, as indicated by chart patterns [1]. Conversely, a decline below the 20-day SMA would indicate prolonged bearish dominance, keeping the asset range-bound for an extended period.

Short-term indicators reinforce the market’s volatility. The 4-hour chart reveals a downward turn in the 20-day SMA, while the relative strength index (RSI) has entered negative territory, suggesting bearish control in the near term. Immediate rallies toward the 20-day SMA are likely to face selling pressure, with the price at risk of falling to $0.21 if the SMA fails as support. A close above the 20-day SMA, however, would signal weakening selling pressure and a potential recovery to $0.27 and $0.29, where further resistance is expected [1].

Bit Origin’s treasury strategy has sparked speculation about DOGE’s demand trajectory. While large institutional purchases can theoretically increase market liquidity, the altcoin’s price action remains contingent on broader macroeconomic factors and market sentiment. The firm’s dual role as a traditional business and crypto miner introduces additional variables, as its operational performance and financial health could influence investor confidence in its DOGE holdings.

The market’s response to the acquisition remains speculative. Institutional buying can stabilize short-term price movements, but DOGE’s volatility underscores the importance of technical levels and broader market conditions. Investors are advised to monitor the 20-day SMA and key resistance levels for directional cues, as well as the firm’s ability to execute its funding plans effectively [1].

Sources:

[1] [DOGE news update: Treasury purchases may kickstart rally to $0.29]

https://cointelegraph.com/news/doge-news-update-treasury-purchases-may-kickstart-rally-to-dollar0-29

[2] [Treasury purchases may kickstart rally to $0.29 - BTCUSD]

https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96493808/doge-news-update-treasury-purchases-may-kickstart