Dogecoin News Today: Dogecoin Surges 15% as Bit Origin Secures $500 Million Funding

Bit Origin Ltd. has successfully secured $500 million in equity and debt facilities to launch a Dogecoin treasury. This significant funding round underscores the growing institutional interest in Dogecoin, a memecoin that has garnered attention due to its community support and utility in peer-to-peer payments and online commerce. The funding is expected to bolster the Dogecoin network, which has seen a surge in bullish activities following the recent Ethereum price jump above $3.4k.

The Dogecoin network has experienced a notable increase in its futures Open Interest (OI), reaching approximately $3.19 billion, the highest level since early February 2025. This surge indicates renewed interest from speculative traders. Additionally, the Dogecoin’s funding rate has shown positive growth, with the average daily funding rate exceeding that of the second week of May, leading to an upsurge towards 25 cents. Historically, positive funding rates are associated with bullish sentiment.

Institutional investors have been increasingly adopting Dogecoin, with several fund managers seeking to offer spot DOGE ETFs in the United States. The unwavering support from tech billionaire Elon Musk has played a crucial role in attracting institutional interest. Jinghai Jiang, CEO and Chairman of Bit Origin, highlighted the evolution of Dogecoin from a joke to a globally liquid asset with significant payments utility. Few digital assets rival Dogecoin’s settlement speed and the scale of its community, which continues to drive adoption across various sectors.

Following the rising bullish sentiment for the altcoin market, the DOGE price has surged over 15 percent in the last seven days, trading at about 21 cents. The large-cap memecoin, with a fully diluted valuation of about $31.7 billion, has seen its daily average traded volume gain over 71 percent. From a technical analysis standpoint, the DOGE price has broken from a falling logarithmic trend established since the beginning of 2025. The bullish sentiment is further bolstered by the daily Relative Strength Index (RSI), which has approached the 70 level, and the MACD line recently crossing above the zero line, signaling that the bulls have taken higher ground.