DOGE (Dogecoin) rose 11.13% in 24 hours

Gate News Bot news, on July 18, according to CoinMarketCap, as of the time of writing, DOGE (Dogecoin) is currently priced at $0.23, with an 11.13% rise in the last 24 hours, reaching a high of $0.23 and a low of $0.19. The current market capitalization is approximately $34.983 billion, an increase of $3.505 billion compared to yesterday. Currently, DOGE ranks 8th in global Crypto Assets market capitalization.

Dogecoin is an open-source peer-to-peer digital currency that is popular among Shiba Inu enthusiasts. It was originally created as a joke but has evolved into a Crypto Asset with real-world utility. The Dogecoin community is known for its friendliness, charity, and meme-making, and its unofficial slogan is "Do Only Good Everyday."

Important news about DOGE recently:

1️⃣ Bit Origin plans to launch DOGE treasury reserves Nasdaq-listed mining company Bit Origin announced that it has secured $500 million in equity and debt financing, planning to launch a DOGE treasury reserve. This is expected to make Bit Origin the largest publicly listed company in terms of DOGE holdings to date. The company stated that DOGE may be integrated into payment scenarios in the future, such as X Money. This move will significantly increase institutional holdings of DOGE and could have a positive impact on its price.

2️⃣ DOGE's technical indicators show strong pump momentum The DOGE price has broken through the key resistance level of $0.20 and closed above the 200-day exponential moving average on the daily chart, indicating strong upward momentum. In terms of technical indicators, the Relative Strength Index ( RSI ) is at a level of 67, approaching the overbought area, and the Moving Average Convergence Divergence ( MACD ) shows an increase in bullish momentum. These technical signals suggest that DOGE may continue to break upward, with the next important target around $0.25.

3️⃣ The overall recovery of the Crypto Assets market drives DOGE rise As Bitcoin breaks through $122,000, investor risk appetite increases, and funds begin to shift from Bitcoin to altcoins. DOGE, as a well-known altcoin ranking high in market capitalization, has clearly benefited from this round of capital rotation. Data shows that the dominance of USDT has dropped from 6% to 4.5%, reflecting that funds are flowing from stablecoins to riskier crypto assets, mainly altcoins. This market environment is favorable for DOGE to continue to strengthen.

From a technical perspective, DOGE is currently facing an important psychological barrier at 0.25 USD. If it can break through this level, it may further stimulate buying pressure, pushing the price towards the 0.30 USD range. However, investors should also be wary of potential pullback risks, especially when the RSI is nearing the overbought area.

This message is not intended as investment advice; investors should be aware of market volatility risks.