🚀 Dogecoin rebounds significantly! Musk's lawyer operates a $200 million 'Treasury Plan', and DOGE instantly soars by 45%! 🔥
After experiencing strong selling pressure, Dogecoin (DOGE) finally welcomed a thrilling rebound! 📈 The price quickly surged from the support level of $0.21, driven by a $200 million 'Treasury Plan' proposed by Elon Musk's lawyer Alex Spiro.
It is reported that the plan has been approved by the entity 'House of Doge', supported by the Dogecoin Foundation, aiming to establish a Dogecoin financial company as an official investment tool. After investment recommendations were received, daily trading volume surged instantly by 45%, reaching $2.58 billion, igniting the entire market! 🔥
🧭 Musk's lawyer leads the Dogecoin financial company plan
Insiders reveal that Spiro is planning to establish a Dogecoin financial company aiming to raise $200 million and is expected to become the chairman. Promotional materials show that 'House of Doge' has authorized this company as the official investment tool, directly connecting to the Dogecoin ecosystem.
While it is still unclear whether Musk is directly involved, his significant influence in the DOGE community undoubtedly adds value to this plan. Notably, Musk has maintained a low profile for a long time, and this time, the operation through his lawyer makes the entire plan appear more strategic and mysterious.
In addition, companies like BitOrigin are also advancing a $500 million DOGE treasury plan, indicating that the entire Dogecoin ecosystem is brewing a major move! 💥
💡 Underlying logic: Extension of Musk's strategy
Analysts point out that Musk is very likely not to have abandoned DOGE; rather, due to regulatory reasons, he cannot directly call for trades, so he has let his lawyer become the chairman of the treasury company, replicating the previous ETH treasury strategy for Dogecoin.
Although this strategy has bubble-like characteristics to some extent, as long as the price is raised, most investors will not mind too much. The key is: retreat in time before the bubble bursts to secure profits. 💰
📊 Dogecoin price trend and technical analysis
Recently, DOGE has performed slightly worse than other altcoins, with a negative growth on the monthly chart, continuously consolidating after falling below $0.28, lacking significant catalysts.
Technical analysis shows that the price is currently forming a symmetrical triangle pattern; once a breakout occurs, it could swing by as much as 30%, whether up or down! ⚡ Well-known crypto analyst Ali Martinez also pointed out that if Spiro's 'Treasury Plan' is successfully implemented, DOGE is likely to experience a wave of strong upward momentum, attracting a large number of bulls.
🔮 Investors need to pay attention
Short-term opportunity: The $200 million 'Treasury Plan' provides potential catalysts for DOGE; short-term traders should focus on breakout directions.
Long-term risk: Although the plan may lead to significant increases, investors should remain cautious of market volatility and bubble risks.
Market trend: DOGE may undergo new institutionalization and mainstreaming processes; performance in the coming weeks is worth close attention.
⚡ Summary
The $200 million DOGE treasury plan operated by Musk's lawyer not only caused the Dogecoin price to soar by 45% instantly but also injected strong confidence into the market. 💎 Whether short-term traders or long-term investors, this could be an important turning point for DOGE.
