#AltcoinBreakout
Analysis: Why is Dogecoin Leading the Top 20 in Weekly Gains?
Dogecoin has seen a strong appreciation in the last month, driven by optimism in the cryptocurrency market and renewed interest from major investors. This combination has brought the memecoin back into the spotlight.
At the time this article was written, DOGE was trading at $0.267, with daily losses of 5.9%, weekly gains of 38%, and monthly gains of 81%. The price reached levels not seen since February.
" Is it possible to reach $5? "
What is driving DOGE?
DOGE is currently undergoing a correction after hitting a five-month high. Following a strong bullish impulse, the price is stabilizing at levels close to the current ones.
Among the factors driving this increase is the capital flow from Bitcoin to altcoins. As BTC consolidates at levels of $118,000 and $117,000, investors are seeking opportunities in alternative cryptocurrencies, such as Dogecoin.
On a macro level, the recent approval of a law for stablecoins in the United States has also benefited the cryptocurrency market in general, including memecoins. Last week, President Trump signed the GENIUS Act, legislation that clearly regulates these digital assets.
One of the direct catalysts was a significant institutional purchase: Dogecoin had a strong recovery following the news that Bit Origin acquired 40.5 million DOGE tokens at an average price of $0.2466. This transaction is part of its new treasury strategy, backed by a $500 million line of credit.
Additionally, Bit Origin introduced a metric called DOGE per share (DPS), which calculates how many Dogecoins correspond to each outstanding share. Currently, the estimated value of DPS is approximately 0.69.
