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Much of the large upside action in major cryptocurrencies of late has been in altcoins such as Dogecoin, with the dog coin higher by 43% weekly. Catalysts for Dogecoin's price rise include incoming ETFs and new crypto treasury companies focusing on the dog coin.
In recent news, CleanCore Solutions has now accumulated more than 500,000,000 Dogecoin as part of its strategic acquisition plan. Earlier this week, the U.S.-based cleaning company disclosed an initial purchase of 285 million DOGE to begin its Dogecoin accumulation plan. CleanCore aims to acquire 1 billion DOGE in 30 days, funded by a $175 million private placement backed by Pantera, GSR and FalconX.
In other news, U.S. Triestina Calcio 1918, one of Italy’s oldest professional soccer clubs, announced on Friday that House of Doge, Dogecoin Foundation's corporate arm, has become its largest shareholder. The investment was made through House of Doge’s subsidiary, Dogecoin Ventures, marking the first time a European football club has brought a cryptocurrency commercialization entity directly into its ownership structure.
Dogecoin to melt faces?
Dogecoin has seen a sharp surge in the last 48 hours, posting two large green daily candlesticks for Friday and Saturday, respectively.
On Saturday, Dogecoin sharply rose from a low of $0.272 to $0.3069 and is on track for its fourth day of rise since Sept. 9. Taken from Sept. 6, Dogecoin has marked six out of seven days in the green, surpassing the daily SMA 50 barrier at $0.225.
At the time of writing, Dogecoin is up 15.11% in the last 24 hours to $0.3056 and up 43% weekly.
According to crypto analyst Ali, DOGE still remains in the "buy" zone, implying that bulls remain in play, adding that Dogecoin's bullish breakout will melt faces.
The Rex Osprey DOGE ETF, the first of such in the U.S., is expected to debut next week, a bullish catalyst for Dogecoin.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team