Dogecoin (DOGE) Price Gains Ground as Treasury Company Plans $200M Investment

TLDR

Dogecoin has reclaimed $0.22 after August volatility, with institutional investors accumulating over 680 million DOGE Elon Musk’s attorney Alex Spiro is set to chair a new $200 million Dogecoin treasury company Technical analysis shows double bottom pattern and ascending triangle structure with support at $0.21 Key resistance sits at $0.245-$0.27 zone, with potential targets at $0.40 and $1 if broken Multiple companies including Neptune Digital Assets and Bit Origin have added DOGE to treasury holdings

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Dogecoin has climbed back to $0.22 after facing sharp volatility in late August. The meme cryptocurrency is showing renewed strength as institutional players accumulate positions ahead of September.

Dogecoin (DOGE) Price

The token weathered significant whale transfers that shook confidence throughout August. However, on-chain data reveals that institutional wallets absorbed more than 680 million DOGE during this period.

This accumulation pattern mirrors previous consolidation phases that preceded major price rallies. During its last significant run, Dogecoin reached an all-time high of $0.79.

The current trading action suggests larger market participants are building positions rather than retail speculation driving movement. This institutional demand provides a foundation for potential upward momentum.

Legal Industry Backs Major Treasury Initiative

Elon Musk’s attorney Alex Spiro is preparing to chair a new public company focused on Dogecoin investments. The initiative aims to raise $200 million for a treasury vehicle backed by House of Doge.

Elon Musk's lawyer Alex Spiro set to chair $200 million Dogecoin treasury – Fortunehttps://t.co/Jgkl5gWZgN

— Dogecoin (@dogecoin) August 29, 2025

The proposed company would hold Dogecoin on its balance sheet. This structure would provide investors with stock market exposure to DOGE without requiring direct cryptocurrency ownership.

Six sources familiar with the deal confirmed these details to Fortune. The effort remains in the pitch stage with no disclosed timeline or final structure.

Spiro works as a partner at Quinn Emanuel Urquhart and Sullivan. His client list includes Elon Musk, Jay-Z, and Alec Baldwin.

This year has seen multiple publicly traded companies rebrand as crypto treasury vehicles. These companies raise funds specifically to buy and hold digital assets.

Vancouver-based Neptune Digital Assets purchased 1 million Dogecoin in February 2025. The company paid an average price of $0.37 per token through a derivative purchase.

Nasdaq-listed Bit Origin announced in July that it secured up to $500 million in financing to build its DOGE treasury. This made it the first US-traded company to openly plan Dogecoin as its core balance sheet asset.

Tesla also holds undisclosed amounts of Dogecoin. The electric car company began accepting DOGE for select merchandise purchases in early 2022.

Dogecoin Price Prediction

From a technical perspective, Dogecoin is consolidating between $0.21 and $0.23. This narrow trading range often precedes decisive price moves.

Source: TradingView

The token has formed a double bottom pattern within an ascending triangle structure. DOGE recently broke above its EMA ribbon, confirming this technical pattern.

Support currently sits at $0.21, which serves as the critical floor level. A breakdown below this point could expose $0.20 as the next defense zone.

The $0.245-$0.27 zone represents key resistance. This area has previously rejected price advances and serves as a crucial test for buyers.

The RSI indicator sits in the mid-40s to 50s range. This suggests room for upward movement without reaching overbought conditions.

MACD signals remain neutral to slightly bearish at current levels. Traders are monitoring whale activity closely as large exchange transfers could influence short-term momentum.

A successful break above $0.27 resistance opens the path to higher targets. The next level sits at $0.40, with the psychological $1 mark as a longer-term objective.

However, a breakdown below $0.21 support could trigger a pullback toward $0.19-$0.20 before another upward attempt.

Dogecoin was trading at around $0.22, up 0.44% in the last 24 hours at press time.

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