#ETH DOGE follows the trail of ETH with a new price boom
Today, the price of DOGE is marking an 11% jump, particularly due to a specific news, but it is necessary to be very careful about it.
Although this jump is in line with a possible bull trend that has been ongoing for a few days, the news that generated it is somewhat dubious.
The news regarding Dogecoin (DOGE)
The news, which was published yesterday, concerns the publicly traded company Bit Origin that has decided to use DOGE as a core treasury asset.
The company has indeed announced that it has reached an agreement to raise 500 million dollars to invest in Dogecoin.
However, this news, despite being received very positively by the crypto markets, requires a couple of clarifications in order to be truly understood for what it really is.
“`html Bit Origin “`
First of all, it must be said that Bit Origin is indeed a company listed on Nasdaq, but also that it capitalizes only 37 million dollars.
Having raised $500 million to buy DOGE, when the overall value of the same company is less than a tenth of the amount raised, raises the first doubts.
Let it be clear, the news is official and confirmed, but it does not say that they have already purchased 500 million dollars of Dogecoin. In fact, it does not even say that they have actually collected them yet, but only that they have reached an agreement to collect them.
Furthermore, it is a company that on the stock market has now imploded.
It landed on Nasdaq in 2019, six years ago, with a price of $180. However, in just thirteen months, the price of its shares plummeted below $20, and over the course of the following three years, it collapsed even below $2.
In fact, starting from November 2024, in the midst of Trump-trade, it collapsed further until reaching a historic low below $0.12 in April of this year.
