- Bit Origin is pivoting to Dogecoin with a bold $500 million crypto treasury strategy.
- DOGE has broken out of a long-term falling wedge pattern, targeting $0.44 to $0.63.
- Analyst Captain Faibik calls for a “parabolic” DOGE rally, citing the 2D breakout.
Dogecoin could be on the cusp of a major rally, thanks to a bold move from a publicly traded company. Bit Origin (BTOG), a Nasdaq-listed mining firm, has announced a new crypto treasury initiative that places DOGE at the center of its strategy.
The news has fueled optimism across the DOGE market, as traders and analysts look for a potential “parabolic” move.
Nasdaq company’s $500M treasury plan puts DOGE in the spotlight
Bit Origin is raising $500 million, which includes $400 million in equity and $100 million in convertible debt, designed to support large-scale DOGE acquisitions. Bit Origin has already closed $15 million of that debt, with a portion earmarked for its initial Dogecoin purchases.
The announcement has not only triggered a rally in BTOG shares but has also fueled optimism across the DOGE market, as traders and analysts eye a potential parabolic rally.
Related: Dogecoin (DOGE) Price Prediction for July 18
Analyst says DOGE is ‘about to go parabolic’
This corporate buying pressure arrives just as Dogecoin’s chart forms a bullish technical setup. According to crypto analyst Captain Faibik, Dogecoin is on the verge of a breakout from a long-term falling wedge pattern on the 2-day chart, a formation known for its bullish implications.
Faibik wrote on X (formerly Twitter), “DOGE #Dogecoin King of Memecoins is about to go PARABOLIC.” His chart suggests that a successful breakout could send DOGE soaring by over 161%, targeting the $0.63 level from its current $0.24 price zone.
Here are the key price targets if the breakout holds
Currently trading around $0.238, DOGE appears to be breaking out from a multi-month falling wedge. Measuring the vertical distance from the wedge’s widest point ($0.30 to $0.10 = $0.20) and projecting upward from the breakout yields a near-term target of approximately $0.44.
Related: Meme Coins Lead Market Recovery with PENGU Up 504% Since Tariff Crash
It is important to note that this aligns with the top edge of the wedge on Fabian’s 2-day chart. Should momentum continue, a more ambitious target sits around $0.63, calculated by adding the full wedge height ($0.20) to the breakout point ($0.43), a potential 160% upside from current levels.
The MACD indicator shows that the MACD line has crossed above the signal line, while the CMF is at 0.15, indicating positive capital inflows into DOGE. The BoP is reading 0.61, suggesting bullish dominance while RSI has also entered the overbought territory.
However, if DOGE fails the breakout and falls back into the wedge, strong support lies near the rising trendline around the $0.16–$0.18 price zone.
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