DOGE Price Rallies on News of $500M Corporate Dogecoin Treasury Plan

Key Points

1. Bit Origin, a Nasdaq-listed mining firm, plans to raise $500 million ($400M equity, $100M convertible debt) to acquire Dogecoin as part of its treasury strategy.

2. DOGE has broken out of a long-term falling wedge pattern, with technical analysis suggesting potential price targets of $0.44 to $0.63 (up to 161% upside).

3. Analyst Captain Faibik predicts a 'parabolic' DOGE rally, citing the 2D chart breakout and bullish indicators like CMF (0.15) and BoP (0.61).

4. Bit Origin has already secured $15 million in convertible debt, with a portion allocated for initial DOGE purchases.

5. The news has fueled market optimism, with traders eyeing DOGE's potential breakout, though a failure could see a retest of the $0.16–$0.18 support zone.