BitOrigin Snaps Up 40.5 Million DOGE — Is This the Start of Dogecoin’s Next Explosive Bull Run?

Jakarta, Pintu News – Recently, BitOrigin has announced the purchase of approximately 40.5 million DOGE, which marks the first phase of its $500 million Dogecoin (DOGE) treasury plan.

BitOrigin Bets Big with Dogecoin Treasury

In a press release, BitOrigin-a Nasdaq-listed company-revealed that it had purchased 40.5 million DOGE worth approximately $10 million.

The move marks the start of DOGE’s $500 million treasury plan, as part of the company’s efforts to go deeper into the digital asset ecosystem.

Read also: Dogecoin Dips Slightly Today, But Analysts Say a Massive 218% Surge Could Be Coming Soon!

Based on the company’s current share structure, the newly announced DOGE stake gives a DOGE per share ratio of approximately 0.691. The average purchase price was recorded at around $0.2466 per token.

BitOrigin’s CEO and chairman, Jinghai Jiang, stated that this is a strategic move based on the company’s expertise in mining and deep understanding of proof-of-work dynamics, not mere speculation.

“We see Dogecoin’s potential utility for micropayments approaching a turning point, driven by revived development activity and increased institutional interest in tokenization,” he said.

“We remain appreciative of Dogecoin’s cultural origins that have helped increase liquidity and introduce it globally, but we believe that current market conditions support Dogecoin’s evolution towards decentralized finance.”

BitOrigin Is the Main Institution Holding DOGE

With up to $500 million already allocated to the digital asset treasury, this move shows BitOrigin’s intention to become one of the main institutions holding DOGE.

If market conditions remain favorable, this strategy could enlarge BitOrigin’s holdings and strengthen its link to the token’s future.

BitOrigin’s move to build a DOGE-based treasury position is in line with a growing trend among American corporations. In comparison, MicroStrategy (now Strategy) and Metaplanet have also been steadily adding crypto assets to their balance sheets.

BitOrigin’s treasury model could potentially make it the first public company on Nasdaq to specifically hold Dogecoin as a treasury asset.

Analysts Predict New Cycle of DOGE Amid Treasury Plan

BitOrigin’s move to buy DOGE sparked a quick reaction from market watchers. Some traders saw technical signals indicating further upside potential.

Read also: Analyst Peter Schiff: “Sell Ethereum Now, Buy Bitcoin!”

On Dogecoin’s daily chart (7/22), the price recently broke through a long-standing resistance level. The RSI indicator also remains showing strong momentum with no signs of bearish divergence.

As market confidence increases due to interest from institutional buyers like BitOrigin, renowned crypto analyst GalaxyBTC mentions that this is most likely the initial phase of a new DOGE cycle.

Meanwhile, trader Alan, known online as Trader Tardigrade, highlighted that while DOGE may see another dip to test the support level around $0.25, this could be the basis for a healthy rally towards the $0.31 to $0.42 target.

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Reference:

• Coingape. BitOrigin Begins $500M Dogecoin Treasury with $40.5M Buy, Analysts Predict Fresh Bull Cycle. Accessed on July 23, 2025