DOGE Surges 5.8% as $500M Treasury Boost, Crypto Legislation, and Record Volume Drive Momentum

Dogecoin (DOGEUSDT) has experienced a notable price increase of 5.80% over the past 24 hours, currently trading at $0.24996 on Binance. This upward movement is attributed to several factors, including heightened market optimism following the U.S. House of Representatives' "Crypto Week" legislative sessions, increased open interest in DOGE derivatives, and significant corporate investment activity such as Bit Origin's $500 million Dogecoin treasury announcement. On-chain data also shows a net outflow of $3.70 million in DOGE from exchanges, suggesting reduced selling pressure. Technical indicators point to bullish momentum, with DOGE approaching key resistance levels and exhibiting strong trading volume, which surged to as high as $18.48 billion in the last 24 hours. Dogecoin is currently ranked as the 8th largest cryptocurrency by market capitalization, with a circulating supply of approximately 150.15 billion coins.