Dogecoin's Surge Driven by Treasury Holdings and Upcoming ETF Launch

According to Foresight News, Dogecoin has experienced a significant price increase of nearly 20% over the past week, driven by new catalysts. A publicly traded Dogecoin treasury company announced an increase in holdings worth $125 million, and Rex-Osprey is set to launch a Dogecoin ETF in the United States on Friday. Dogecoin has become one of the top-performing cryptocurrencies in the market, surpassing Bitcoin and Ethereum in recent gains. CoinGecko data shows Dogecoin's current price at approximately $0.2543, marking a 20% rise over the past week and reaching its highest price since August 13. Despite its recent surge, Dogecoin's price remains significantly lower than its all-time high of $0.73 achieved in 2021. Among the top 10 cryptocurrencies by market capitalization, Dogecoin is the only one that has not reached a new high in the past 12 months, excluding stablecoins pegged to the U.S. dollar. Analysts previously noted that Dogecoin lagged due to a lack of core demand drivers, such as substantial treasury holdings or sustained investor interest in ETFs. However, the situation is now changing. On Monday, CleanCore Solutions, the first publicly listed Dogecoin treasury company, announced its initial Dogecoin acquisition and disclosed another round of purchases on Thursday afternoon. CleanCore now holds over 500 million Dogecoin, valued at more than $125 million. The company, in collaboration with the Dogecoin Foundation's commercial branch "House of Doge," has established this treasury, positioning itself as Dogecoin's "official" treasury company. Marco Margiotta, CleanCore's Chief Investment Officer and House of Doge CEO, stated, "Holding over 500 million Dogecoin reflects CleanCore's speed and scale in executing treasury strategies. Our vision is to establish Dogecoin as a top reserve asset while supporting its broad application in payments, tokenization, staking-like products, and global remittances." ZONE shares have risen approximately 6% this week and have surged over 200% since the beginning of the year. In addition to treasury holdings, anticipation for the first U.S. Dogecoin ETF has contributed to Dogecoin's recent rise. Rex-Osprey's Dogecoin ETF, trading under the code DOJE, was initially scheduled to launch on Thursday but has been postponed to Friday. Analysts told Decrypt that although the ETF's listing process differs from most spot Bitcoin and Ethereum ETFs in the U.S. market, its ultimate effect is similar: providing traditional investors access to this "veteran and still valuable meme coin." Bloomberg Senior ETF Analyst Eric Balchunas commented on X, "I'm sure this is the first U.S. ETF to exclusively hold assets with 'no actual use.'" Users on Myriad, a prediction market platform developed by Decrypt's parent company Dastan, are increasingly optimistic about Dogecoin's prospects. The market currently predicts a 66.6% probability of Dogecoin rising to $0.30, compared to a lower probability of it falling to $0.15. This probability has increased by nearly 15% over the past week as Dogecoin's price climbs.