Dogecoin (CRYPTO: DOGE) is surging as the first public companies are racing to adopt it as a treasury asset.

Trader Notes: Crypto chart analyst Ali Martinez highlighted a developing double bottom formation on the DOGE chart, with the pattern pointing to a potential target of $0.42, about 77% higher from current levels.

Javon Marks went even further, projecting DOGE could hit $2.28 based on the 1.618 Fibonacci extension, citing past cycles where DOGE exceeded that level. That implies a potential 800% rally from here.

Daan Crypto Trades noted that Dogecoin has been trading in a range for 6 months, but a breakout above $0.26 could unleash a sharp move into the $0.30–$0.40 zone, consistent with DOGE's historical tendency to move slowly, then suddenly explode upward.

Statistics: Martinez stated that whales have purchased 1.08 billion DOGE in the past 48 hours.

Bitinfocharts reflects wallets holding 0 to 0.1 DOGE and 0.1 to 1 DOGE, accounting for 35.2% and 9.6% of distribution respectively, reflected an increase in one week. This implies rising trader interest in the meme coin.

Coinglass data shows Dogecoin's open interest rallied 22.1% in a single day to $3.9 billion.

This implies high trader interest in the meme coin after it was adopted as a treasury asset by a company.

Derivatives trading volume expanded by 86.7% in a single day.

Community News: Bit Origin raised $500 million to buy Dogecoin and hold it as a core treasury reserve, the first-ever corporate move of this kind.

This strategic adoption has changed sentiment, reinforcing Dogecoin's shift from meme to mainstream asset.

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