DOGE Explodes 7% to $0.28 After Massive Bit Origin Buy – Analyst Reveals Next Target
The post DOGE Explodes 7% to $0.28 After Massive Bit Origin Buy – Analyst Reveals Next Target appeared on BitcoinEthereumNews.com. Key Notes Singapore-based Bit Origin Ltd acquired over 40 million DOGE tokens and introduced DOGE-Per-Share metric of 0.691 for shareholders. Technical analyst Alan projects potential 50% upside to $0.42 target citing breakout confirmation and RSI momentum without bearish divergence. CEO Jinghai Jiang highlighted Dogecoin’s micropayment utility and institutional adoption potential as key long-term catalysts. Dogecoin BTC $118 307 24h volatility: 0.4% Market cap: $2.35 T Vol. 24h: $42.03 B surged 7% to reach $0.28 on Monday, July 21, outperforming Cardano, Solana, and other top-20 cryptocurrencies. The rally came after Bit Origin Ltd (NASDAQ: BTOG), a Singapore-based digital asset firm, disclosed the acquisition of 40.5 million DOGE to seed its newly launched Treasury Strategy, backed by a $500 million capital facility. According to Bit Origin’s official statement, the DOGE purchase was executed at an average cost of $0.2466 per token, bringing its total holdings to over 40 million DOGE. The firm also introduced a new metric, DOGE-Per-Share (DPS), calculated at approximately 0.691 based on its Class A and B shares outstanding. Bit Origin Announces 40 million DOGE Purchase | Source: SEC.gov In the official documents filed with the US Securities and Exchange Commission (SEC) on Monday, Jinghai Jiang, CEO and Chairman of Bit Origin, emphasized the growing utility of Dogecoin for micropayments as a key long-term bullish catalyst. “We see Dogecoin’s utility potential nearing an inflection point. Its cultural familiarity and liquidity, when combined with renewed developer activity, could support a shift toward institutional-grade use cases.” – Jinghai Jiang, CEO and Chairman of Bit Origin, July 21. The acquisition is Bit Origin’s first under its proposed $500 million digital asset treasury initiative announced last week, a diversification strategy meant to leverage both mining experience and on-chain capital deployment. Bit Origin’s move into treasury-backed DOGE positions aligns with other prominent US-based firms…
The post DOGE Explodes 7% to $0.28 After Massive Bit Origin Buy – Analyst Reveals Next Target appeared on BitcoinEthereumNews.com.
Key Notes Singapore-based Bit Origin Ltd acquired over 40 million DOGE tokens and introduced DOGE-Per-Share metric of 0.691 for shareholders. Technical analyst Alan projects potential 50% upside to $0.42 target citing breakout confirmation and RSI momentum without bearish divergence. CEO Jinghai Jiang highlighted Dogecoin’s micropayment utility and institutional adoption potential as key long-term catalysts. Dogecoin BTC $118 307 24h volatility: 0.4% Market cap: $2.35 T Vol. 24h: $42.03 B surged 7% to reach $0.28 on Monday, July 21, outperforming Cardano, Solana, and other top-20 cryptocurrencies. The rally came after Bit Origin Ltd (NASDAQ: BTOG), a Singapore-based digital asset firm, disclosed the acquisition of 40.5 million DOGE to seed its newly launched Treasury Strategy, backed by a $500 million capital facility. According to Bit Origin’s official statement, the DOGE purchase was executed at an average cost of $0.2466 per token, bringing its total holdings to over 40 million DOGE. The firm also introduced a new metric, DOGE-Per-Share (DPS), calculated at approximately 0.691 based on its Class A and B shares outstanding. Bit Origin Announces 40 million DOGE Purchase | Source: SEC.gov In the official documents filed with the US Securities and Exchange Commission (SEC) on Monday, Jinghai Jiang, CEO and Chairman of Bit Origin, emphasized the growing utility of Dogecoin for micropayments as a key long-term bullish catalyst. “We see Dogecoin’s utility potential nearing an inflection point. Its cultural familiarity and liquidity, when combined with renewed developer activity, could support a shift toward institutional-grade use cases.” – Jinghai Jiang, CEO and Chairman of Bit Origin, July 21. The acquisition is Bit Origin’s first under its proposed $500 million digital asset treasury initiative announced last week, a diversification strategy meant to leverage both mining experience and on-chain capital deployment. Bit Origin’s move into treasury-backed DOGE positions aligns with other prominent US-based firms…
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