Nasdaq-listed BitOrigin Ltd has kicked off its first major investment in Dogecoin (DOGE) with a $10 million purchase. This acquisition of 40.5 million DOGE tokens marks the beginning of an ambitious $500 million digital asset management strategy.
The move comes as analysts suggest Dogecoin may be entering a new bullish cycle. A mix of institutional demand, technical signals, and favorable market conditions is setting the stage for an exciting chapter for the popular memecoin.
BitOrigin: First Institutional Dogecoin Custodian on Nasdaq?
According to a press release, BitOrigin plans to use DOGE not just as a speculative asset but as a foundation for managing its digital reserves. CEO Jinghai Jiang stated that the company is betting on Dogecoin due to its technical merits and potential for micropayments, supported by a growing developer community.
The report shows DOGE represents an initial ratio of 0.691 tokens per share, with an average purchase price of approximately $0.2466. The $500 million fund is structured from $400 million in equity and $100 million in convertible debt from accredited investors.
BitOrigin is now positioning itself as the first publicly traded Nasdaq company to officially launch a Dogecoin-focused treasury strategy.
Market Signals Support Growth – Price Targets Reach $0.42
The market reacted swiftly to the announcement. According to analysts, Dogecoin has broken a long-term resistance level, and the daily RSI maintains a bullish momentum.
Well-known analyst GalaxyBTC points to strong institutional foundations that could set the stage for a new upward DOGE cycle. Trader Tardigrade, another prominent voice in the crypto space, noted that even a short-term pullback to $0.25 could serve as a launchpad for growth toward $0.31 or even $0.42.
With other companies such as Strategy (formerly MicroStrategy) and Metaplanet also expanding their crypto holdings, the trend of institutional investment in memecoins appears to be gaining serious momentum.
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