DOGE stock is heading towards the $1 level with the public company's announcement of a treasury bond issuance strategy. ✅ ⏱️👈📉🚀💲👈$DOGE 👉💲📉🚀⏱️👉✅
Dogecoin is the biggest winner among the top ten cryptocurrencies by market cap, having risen by 15% in 24 hours to trade at $0.243 today, July 18. It seems that Dogecoin is poised for a massive rise exceeding 380% against $1 due to increasing institutional interest and the growing likelihood of SEC approval for a spot trading fund.
Dogecoin is on track for a 380% rise to reach one dollar $DOGE
After nearly ten months of forming a symmetrical triangle pattern, Dogecoin is now experiencing a breakout, indicating the possibility of a strong rise ahead. This breakout occurred in this week's candle, reflecting a 23% increase in Dogecoin's price over the past seven days.
The rise from the lowest support level of this symmetrical triangle to the highest level in December 2024 at $0.48 represents a price increase of 380%, and this may be the same rise that DOGE could record after breaking through the resistance level at $0.41. This growth could push DOGE above one dollar for the first time in history.
The Relative Strength Index also supports Dogecoin's price predictions as the price continued to rise after breaking the 50 level, indicating that the bullish momentum is strong and there is potential for further price increases.
Among the other indicators that increase the likelihood of DOGE rising to one dollar in the near term, AO bars are currently turning green, although they remain in the negative zone. This expectation indicates a decline in the bearish momentum that has affected the meme coin's price movement over the past seven months, and the potential for a significant breakout.
$500 million DOGE treasury bonds and rising ETF odds could boost bullish momentum
Dogecoin's price tends to follow Bitcoin's price movement, and as long as Bitcoin continues to rise, it is likely that Dogecoin will maintain its upward momentum. However, other factors within the Dogecoin ecosystem may support this momentum, leading the leading cryptocurrency to experience price increases similar to those it achieved in its early years.
A recent report from CoinGape revealed that Bit Origin, a cryptocurrency company listed on NASDAQ, has secured funding to launch a $500 million DOGE treasury, which will be used to accumulate more tokens, while the remaining funds will support the development of the Dogecoin ecosystem.
Additionally, PolyMarket data indicates a significant likelihood of approval for the DOGE exchange-traded fund, as this surge coincides with institutional interest from Bit Origin. There is currently an 80% chance of launching these products, with the SEC's deadline for a decision being September 2025.
In summary, strong interest from both individual and institutional investors supports the hypothesis of Dogecoin's price rising to one dollar. If this week's candle closes above the resistance level of $0.21, and buying pressure continues, Dogecoin could reach this price level in the coming months. $WCT
#WalletConnect #HumaFinance #lagrange #SoftStaking @Caldera Official @WalletConnect @Lagrange Official @Huma Finance 🟣
