Institutional interest potentially driving Dogecoin (DOGE) towards a $0.25 breakthrough, with a $1 rally on the horizon.
In the cryptocurrency world, Dogecoin (DOGE) has been making waves, with its price rising by 4.42% in the last 24 hours, trading around $0.24 at press time. This growth is not without reason, as several factors are contributing to the coin's resurgence.
One such factor is the movement of tokens off exchanges and into private storage. On September 9, exchange outflow data showed $10.17 million worth of Dogecoin tokens being moved, indicating a potential shift towards long-term holding.
The market, however, remains divided on whether Dogecoin can reach the significant milestone of $1. Optimists point to institutional demand, the potential approval of the Rex-Osprey DOGE ETF, and strong community support as factors that could drive the coin's price upward. On the other hand, pessimists cite macroeconomic risks, regulatory uncertainty, and profit-taking cycles as potential obstacles.
One institution making a significant impact on Dogecoin is CleanCore Solutions. The company has announced a $68 million Dogecoin Treasury, securing 285 million DOGE tokens with plans to scale up to 1 billion tokens. This makes CleanCore Solutions the institution causing the largest institutional accumulation effect for Dogecoin.
The Dogecoin Treasury marks the largest corporate treasury initiative for Dogecoin to date. Analysts estimate a 63% chance of approval for the Rex-Osprey DOGE ETF, which, if approved, would be the first U.S.-listed Dogecoin ETF. The speculation surrounding this ETF is contributing to the recent price lift, as it would provide a more traditional investment avenue for Dogecoin.
Whale behavior is also playing a significant role in the Dogecoin market. Wallets holding 1 million to 10 million DOGE now possess more than 10.9 billion tokens, the highest since late 2021. This suggests a concentration of large holders, and recent data shows a spike in whale transactions, with 118 transactions above $1 million in a day.
The Dogecoin Treasury and the potential Rex-Osprey DOGE ETF could stabilize price volatility and establish Dogecoin as more than a speculative asset. Whether these developments will lead to Dogecoin reaching $1 remains to be seen, but one thing is certain: the coin is attracting significant attention from both institutions and large investors.
Read also:
- Quantum Computing Market in the Automotive Sector Forecast to Expand to $6,462.13 Million by 2034
- List of 2025's Billionaire Video Game Moguls Ranked by Fortune
- VinFast Accelerates Globally, Leveraging Vingroup's Technological and Financial Foundation
- Transformation of Decarbonization Objectives in the Iron Ore Pellets Sector
%20towards%20a%20%240.25%20breakthrough%2C%20with%20a%20%241%20rally%20on%20the%20horizon.){kind=link}