Analysts $DOGE note the growth potential up to $1 and beyond, driven by the launch of the first official Dogecoin treasury by CleanCore Solutions.
Key takeaways:
From meme coin to mainstream? The first issue of DOGE has been launched for a total of 175 million dollars.
The figure "bullish megaphone" in DOGE price suggests a growth of 550% to $1.
The price of Dogecoin rose by 10% from a monthly low of $0.205 to an intraday high of $0.224 on Thursday. This was facilitated by the launch of the first official treasury program for Dogecoin by CleanCore Solutions.
Can institutional adoption raise the price of DOGE above $1?
Dogecoin 'Strategy' worth $175 million
CleanCore Solutions, a manufacturer of ozone water purification systems from Nebraska, becomes the first public company to accept Dogecoin as its primary treasury reserve asset.
The company reported a private placement of shares worth $175 million, supported by more than 80 institutional and crypto investors, marking a historic step for cryptocurrency.
The goal of this initiative, supported by the Dogecoin Foundation and House of DOGE, is to institutionalize DOGE by creating a treasury strategy backed by the fund.
This move reflects the 'strategy' Strategy, focused solely on BTC, and the success of Bitcoin based on ETF, which potentially opens access to billions in institutional investments.
Analysts suggest this could stimulate demand as regulated capital may enter the market, given that the ETP 21Shares Dogecoin has already been approved for trading in Europe, and the likelihood of approval for a spot ETF in 2025 is 79%, according to Polymarket data.
Potential new demand from Dogecoin ETFs and companies may justify reaching the target level of $1 by the end of 2025.
The price of the megaphone DOGE is targeted at $1–$1.40
The weekly candlestick chart shows that Dogecoin is trading within a bullish 'megaphone' pattern, as displayed in the chart below.
The price bounced off the lower trend line of the pattern at $0.15 in June, indicating the beginning of another significant upward movement.
A breakout of the triangle resistance line at $1.225 (50-day simple moving average) will confirm a bullish exit from consolidation. The estimated bullish target for this formation is $0.37, corresponding to a 72% price increase for DOGE.
#Binance #doge⚡ #altcoins #analysis #crypto
