Dogecoin (DOGE) surged 14% in the last 24 hours, igniting market discussions. This rise is not merely a meme frenzy, but is supported by three main driving forces: strong institutional capital entry, bullish signals from technical indicators, and the market trend of crypto funds rotating from Bitcoin to altcoins. Various signs indicate that DOGE has the potential to be more than just an internet meme; it may become a new favorite for institutional investors.
Bit Origin invests $500 million to create a Dogecoin inventory, emulating MicroStrategy's Bitcoin strategy.
Nasdaq-listed company Bit Origin announced it has raised $500 million (of which $400 million comes from equity financing and $100 million from debt), which is planned to be used to establish a DOGE corporate treasury. This strategy is almost a direct copy of MicroStrategy's approach to Bitcoin, intending for the market to view Bit Origin as the 'Dogecoin version of MicroStrategy', becoming an indirect channel for institutional investment in DOGE.
Earlier, on July 17, another listed company, Thumzup Media, had just approved the establishment of a $250 million cryptocurrency treasury that includes DOGE. The consecutive heavy investments by two US stock companies indicate that institutional confidence in DOGE is rapidly warming.
Technical breakthrough: double bottom pattern completed, target price of $0.25 is within reach.
From a technical analysis perspective, DOGE's recent trend has provided strong support for the bulls:
Double bottom pattern breakout: Successfully broke through the neckline at $0.21 on the daily chart, forming a classic double bottom pattern, with a technical target price of $0.25, which still has about 23% upside potential compared to the current price (around $0.243).
RSI index at 72.04: indicates it is still in the bullish zone, though close to overbought but not yet overheated.
Futures open interest surged: since July, it has skyrocketed by 67% to $2.85 billion, reflecting heightened market speculation, with data from IntoTheBlock showing that capital is rapidly flowing in.
Market capital rotation: Altcoin season has arrived, and DOGE is benefiting significantly.
In addition to technical and fundamental factors, changes in the overall market structure also bolster DOGE. Bitcoin's market share has dropped from 63.97% to 60.79% over the past 30 days, indicating that capital is flowing from BTC to altcoins, initiating what is referred to as 'Altcoin Season.'
Altcoin Season Index: Weekly increase of 71%, reaching 48/100, approaching the threshold for entering altcoin season.
DOGE financing rate remains neutral: Despite the active futures market, the DOGE funding rate remains stable at +0.0128%, indicating that neither side is overly leveraged, which is beneficial for the continued advancement of the market and reduces the risk of extreme price fluctuations.
The $0.25 level becomes critical; can DOGE become the darling of institutions?
Overall, this wave of DOGE's rise is not just a short-term fluctuation of market sentiment, but is driven by the resonance of corporate entry, technical breakthroughs, and market structure. If it successfully stabilizes above the $0.25 level, it is expected to open a new round of upward momentum.
However, the market is still focused on a key question: in the third quarter of 2025, will the pace of institutional adoption be sufficient to offset the unique high volatility risks of meme coins?
This article: DOGE skyrockets 14%! Nasdaq-listed company Bit Origin raises $500 million for reserves, next stop $0.25? Originally appeared in Chain News ABMedia.
