DOGE Surges 8.89% as Major Holders Accumulate 2.3 Billion Tokens Amid $500M Treasury Move

Dogecoin (DOGE) has experienced notable price appreciation in the last 24 hours, with the DOGEUSDT pair on Binance rising 8.89% to $0.23442 from a 24-hour open of $0.21528. This upward movement is primarily attributed to increased accumulation by large holders, as on-chain data shows wallets holding 10–100 million DOGE added over 2.3 billion tokens in 72 hours, and to heightened investor optimism following Bit Origin Ltd's announcement of a $500 million Dogecoin treasury strategy, which included an initial $15 million DOGE purchase. Additional positive sentiment stems from ongoing U.S. legislative discussions that could provide clearer regulatory frameworks for cryptocurrencies, as well as technical indicators suggesting a potential trend reversal.

Currently, Dogecoin maintains a market capitalization in the range of $31.72–$40.87 billion, with a circulating supply of approximately 150.1 billion DOGE and strong 24-hour trading volumes across major exchanges, reflecting elevated market activity and volatility.