Background Overview

Dogecoin (DOGE), one of the most popular meme coins, continues to be a dominant force in the crypto market. Despite enduring several bull and bear cycles, DOGE consistently attracts significant attention. Recently, a major bullish development returned DOGE to the headlines: DOGE surged 3% after Bit Origin announced the establishment of a $500 million Dogecoin treasury, injecting new upward momentum into the asset.

Bit Origin’s Major Dogecoin Play: $500 Million Treasury Initiative

In mid-July, publicly listed U.S. company Bit Origin unveiled its “Dogecoin Treasury Initiative,” planning to raise up to $500 million via equity financing and convertible bonds to accumulate a long-term DOGE reserve. On July 21, the company completed its first purchase, acquiring about 40.5 million DOGE at an average price of $0.2466 per coin, and stated it will continue to increase its holdings as planned.

This marks the first time in DOGE’s history that a U.S. public company has made a “corporate treasury” investment in the asset, drawing widespread attention across the market. Bit Origin’s approach is widely seen as echoing MicroStrategy’s early strategy with BTC, aiming to use DOGE reserves as a strategic engine for portfolio allocation.

DOGE Live Market Recap: Up 3%, Now Trading at 0.24386

Chart: https://www.gate.com/trade/DOGE_USDT

According to Gate platform data, as of 11:15 UTC on July 28, 2025, DOGE traded at 0.24386 USDT, with a 24-hour increase of approximately +2.02%. The intraday high reached 0.24561 USDT, coming close to Bit Origin’s average purchase price of 0.2466.

In terms of trading activity, 24-hour turnover reached $31.83 million USDT, indicating a notable surge in DOGE trading and strong inflows of short-term capital. On the technical charts, DOGE has established support above the 30-day and 60-day moving averages. This reinforces early signs of a short-term reversal.

Technical Analysis: Breaks Above Multiple Moving Averages, Breakout Approaching

From both daily and 15-minute perspectives, DOGE’s price rebounded steadily after hitting a low of 0.2343 USDT on July 24. It has now reclaimed levels above its short- and mid-term moving averages.

• Short-term support: 0.2380 USDT
• Resistance at the institutional average purchase price: 0.2466 USDT
• Upper resistance range: 0.25 – 0.26 USDT

If the price breaks and sustains above Bit Origin’s acquisition cost line, DOGE could quickly test the prior high at 0.28749 USDT. Conversely, if the price falls below 0.2380, investors should be alert to the risk of a short-term pullback.

Restoring Market Confidence? Institutional Entry Is a Major Signal

Bit Origin’s move sends a clear message: even in the highly volatile meme token space, traditional capital is starting to make strategic allocations. This represents a long-term positive catalyst for DOGE’s transformation into a financial asset.

Dogecoin was once regarded as just a “joke coin,” but companies such as Tesla and AMC now accept it as payment. In addition, Bit Origin’s explicit strategy to treat DOGE as a long-term reserve asset could drive further adoption among other publicly traded companies.

Investor Strategy Tips: Navigating Potential Volatility

For retail investors, the following strategies are suggested:

1. Short-term traders: consider gradual accumulation in the 0.238–0.244 USDT range, targeting 0.26–0.28 USDT.
2. Mid- and long-term holders: monitor Bit Origin’s DOGE holdings to inform your own decisions; it’s advisable to keep your average cost below the institutional buy-in.
3. If the price breaks below 0.235 USDT, consider exiting your position and waiting for clearer direction.

Conclusion: Will the DOGE Rebound Last?

Bit Origin’s $500 million DOGE reserve initiative has demonstrated substantial confidence in Dogecoin. Although the current rally is just under 3%, technical patterns, trading volume, and market sentiment all point to DOGE emerging from its bottom price range. Should more institutions follow Bit Origin’s lead, DOGE could lose its meme status and be recognized as a legitimate digital asset.