Dogecoin News Today: Dogecoin Rises 5% as Trump-Linked Mining Deal and Fed Shifts Attract Institutional Interest

Dogecoin surged more than 5% on Tuesday as a $50 million acquisition of a mining firm by a Trump-linked entity, the launch of a state-backed stablecoin in Wyoming, and shifting Federal Reserve rhetoric combined to fuel institutional inflows into the digital asset [1]. The price of DOGE traded between $0.21 and $0.22, with heightened volume reflecting increased interest from institutional players [1].

Thumzup, a politically connected firm, acquired Dogehash, a major DOGE mining operation, in a deal worth $50 million, signaling robust capital deployment in the Dogecoin ecosystem [1]. This acquisition created what company executives described as the largest Dogecoin mining infrastructure in the U.S., further embedding the meme coin into the fabric of institutional finance [1].

Meanwhile, the state of Wyoming launched the Frontier Stable Token, a government-backed stablecoin, reinforcing a broader regulatory shift toward integrating digital assets into the U.S. financial system [1]. The move aligns with a growing trend of state-level experimentation in crypto, with Wyoming emerging as a regulatory pioneer.

Federal Reserve officials also contributed to the bullish momentum, with Vice Chair Michelle Bowman warning that banks risked falling behind competitors if they failed to adapt to digital assets [1]. Such comments suggest a softening in the central bank's stance on crypto, potentially opening the door for broader institutional adoption.

Trading activity reflected the convergence of these events. A 60-minute window on August 21 saw DOGE rise by 1% as volume spiked above 61.8 million tokens, indicating strong accumulation activity [1]. The price remained resilient between $0.21 and $0.22, with repeated volume surges confirming the presence of institutional buying interest [1].

Analysts observed that the token's immediate support and resistance levels were firmly established in the $0.21–$0.22 range, with a critical test ahead if the price can hold above the $0.22 pivot [1]. A move toward $0.225 would signal a potential breakout, though it remains contingent on sustained volume and follow-through buying.

The broader market is closely watching the interplay between Fed policy, regulatory developments, and corporate adoption. With over 2 billion DOGE tokens ($500 million in value) added to whale wallets this week, and mining infrastructure expanding, the crypto sector is showing signs of maturation [1].

Source: [1] DOGE Surges 5% Amid Trump-Affiliated Dogecoin Mining Deal and Fed Comments (https://www.coindesk.com/markets/2025/08/22/doge-surges-5-amid-trump-affiliated-dogecoin-mining-deal-and-fed-comments)