- Dogecoin price rebounded from $0.21 support following news of a $200 million Dogecoin Treasury initiative backed by Elon Musk’s lawyer Alex Spiro.
- Daily trading volume jumped 45% to $2.58 billion, signaling renewed investor activity despite recent market pressures.
The meme coin world is rarely quiet, and Dogecoin has just reminded traders why it remains one of the most watched digital assets. After slipping toward $0.21 amid broader market weakness, DOGE managed to stage a comeback once news broke of a major $200 million Treasury initiative linked to Elon Musk’s legal counsel, Alex Spiro.
This fresh development injected optimism into a market that had been running low on catalysts. Trading activity followed suit, with Dogecoin’s 24-hour volume soaring 45% to $2.58 billion. For many investors, this bounce has revived hopes that DOGE might not be out of the race just yet.
Dogecoin Treasury Backed by Elon Musk’s Lawyer Sparks Optimism in the Community
According to sources, Spiro is spearheading plans to form a Dogecoin Treasury company, with the project already receiving backing from the “House of Doge” — the corporate entity tied to the Dogecoin Foundation. The new entity would reportedly serve as an “official” vehicle for the memecoin, raising $200 million in funding.
Although Musk himself has not publicly committed to involvement, his longstanding influence over the DOGE community has already created strong sentiment around the proposal. Notably, other players like BitOrigin are exploring even larger treasury projects, with figures as high as $500 million being discussed.
DOGE price Bounce at $0.21 Support Keeps Traders Eyeing Potential Breakout
Despite being an underperformer on the monthly chart, DOGE’s technicals show a tightening pattern, hinting at the possibility of a breakout. After hitting resistance at $0.28, the coin entered a sideways phase within a symmetrical triangle structure.
Analysts like Ali Martinez believe a move of up to 30% could occur, depending on which side breaks first. For now, the rebound from $0.21 has kept bullish hopes alive. With the Treasury initiative underway, the fundamentals may finally give DOGE a narrative to match the charts.
Dogecoin $DOGE is ready for a 30% move! pic.twitter.com/Zeqo7zL9mW
— Ali (@ali_charts) August 29, 2025
At the time of writing, DOGE was trading at $0.21, a modest 0.93% in the last 24 hours. The 24 hours trading volume has also seen a massive decline by 62% to take the value to $996.6M.
