Dogecoin (DOGE) soared 10.91% to $0.2404 within 24 hours, breaking through the psychologically significant $0.20 barrier and overcoming technical resistance at $0.205. The rally follows two major corporate endorsements: Thumzup Media announced plans to hold up to $250 million in crypto assets including DOGE, while Bit Origin allocated $500 million specifically to Dogecoin for its treasury reserves – making it the first major U.S. company to formally hold DOGE as part of its financial strategy. Combined, these investments represent approximately 2.1% of Dogecoin's total circulating supply.
Technical indicators reinforce bullish momentum, with DOGE trading above both the 89-day exponential moving average (EMA89) and 200-day moving average (MA200) – key long-term trend markers. The RSI(7) reading of 84.21 signals overbought conditions but reflects sustained buying pressure, while a bullish MACD crossover occurred for the first time since mid-July. Analyst Master Ananda projects a potential 559% surge to $1.16 based on a four-week green candle pattern mirroring 2023-24 bull cycles, noting historical correlation between DOGE and Cardano price movements.
Fundamentally, GitHub proposal #3776 proposes reducing Dogecoin's annual issuance from 5 billion to 500 million coins, which would slash inflation from 3.3% to 0.3% – potentially creating supply constraints. Despite the surge, Dogecoin co-creator Billy Markus and the Dogecoin Foundation haven't endorsed price targets, with analysts cautioning that current gains stem from market psychology rather than protocol upgrades, drawing parallels to DOGE's 2021 spike to $0.73.