Doge stock is heading📉 towards the $1 level💵 with the public company's announcement of a treasury bond issuance strategy ✅
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 15% in 24 hours to trade at $0.243 today, July 18. Dogecoin appears to be gearing up for a massive rise exceeding 380% towards $1 due to increasing institutional interest and the growing likelihood of SEC approval for an instant trading fund.
Dogecoin is heading towards a 380% increase to reach $1 $DOGE
After nearly ten months of forming a symmetrical triangle pattern, Dogecoin is now witnessing a breakout, indicating a strong potential rise ahead. This breakout occurred in this week's candle, reflecting a 23% increase in Dogecoin's price over the past seven days.
The increase 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 increase that DOGE could record after breaking the resistance level at $0.41. This growth could push DOGE above $1 for the first time in history.
The Relative Strength Index also supports the price forecast for Dogecoin as the price continued to rise after breaking the 50 level, indicating that the bullish momentum is strong and there is a possibility for further price increases.
Other indicators that increase the likelihood of DOGE rising to $1 in the near term include the AO bars currently turning green, although they remain in the negative zone. This expectation suggests a retreat of the bearish momentum that has affected the price movements of the meme coin over the past seven months, and a possibility of a significant breakout.
The $500 million Doge Treasury bonds and rising prospects of exchange-traded funds could boost bullish momentum.
The price of Dogecoin tends to follow Bitcoin's price movement, and as long as Bitcoin continues to rise, Dogecoin is likely to maintain its bullish momentum. However, other factors within the Dogecoin ecosystem may support this momentum, leading the leading cryptocurrency to record price increases similar to those 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 chance of approval for the DOGE exchange-traded fund, as this increase coincides with institutional interest from Bit Origin. There is currently an 80% chance of launching these products, with the last deadline for a decision from the U.S. Securities and Exchange Commission being September 2025.
In summary, the significant interest from both retail and institutional investors supports the hypothesis of Dogecoin's price rising to $1. 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
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