Latest news with #BitOrigin
Yahoo
6 days ago
- Business
- Yahoo
Dogecoin Retreats Despite Bit Origin's $500M Allocation, RSI Hits Overbought
Dogecoin tumbled nearly 7% over the past 24 hours, reversing gains after briefly touching the $0.29 level — its highest price in over 10 months. The decline comes despite Bit Origin's headline-grabbing $500 million DOGE treasury allocation, which included over 40 million tokens acquired this week. Traders cited overbought conditions and lack of sustained buy pressure as key reasons for the retracement. DOGE is now consolidating just above the $0.26 mark. News Background Bit Origin, a Hong Kong-based commodities and treasury firm, announced a major corporate commitment to Dogecoin with a $500 million treasury strategy involving a phased purchase of 1 billion DOGE. The move was initially seen as a validation of DOGE as a corporate asset. However, price failed to hold highs above $0.29, raising questions over DOGE's ability to sustain institutional rallies amid broader market headwinds and historically volatile trading conditions. Price Action Summary • DOGE surged to $0.29 at 17:00 on July 21 following news of Bit Origin's treasury plan, before falling to $0.27 by session close.• The 24-hour trading range spanned $0.26–$0.29, marking a 9% volatility window.• Final-hour trading (03:06–04:05 UTC on July 22) saw DOGE drop from $0.27 to $0.26, its lowest since Thursday, with volume rising to 37.2 million during the decline.• DOGE is now down 7% from session highs, despite institutional buying. Technical Analysis • RSI spiked to 85.95 on the move to $0.29, indicating overbought conditions.• Trading volumes peaked at 1.703 billion tokens during the breakout, nearly 2.5x the daily average.• Resistance remains firm at $0.29 with repeated rejections.• Support weakened from $0.27 to $0.26 as buyers failed to hold levels.• DOGE now trades at the lower end of its recent range, risking further downside if $0.26 fails. What Traders Are Watching Traders are eyeing whether DOGE can hold above $0.26, which has served as short-term support amid institutional flows. Failure to hold this level may trigger a retest of the $0.245-$0.25 zone. Any renewed buying from corporate treasuries or ETF-related speculation may help DOGE reclaim the $0.275-$0.29 resistance band — but momentum remains fragile.
Yahoo
7 days ago
- Business
- Yahoo
This Penny Stock Wants to Become the MicroStrategy of Dogecoin
Bit Origin (BTOG) shares are extending gains in morning trading on Monday after the crypto mining company announced plans of raising $500 million to launch a Dogecoin (DOGEUSD) treasury. In its press release, the Nasdaq-listed firm said it will raise about 20% of that capital via a sale of senior secured convertible notes while the rest of the funds will come from an equity offering. More News from Barchart It's Never 'Happened in the History of Tech to Any Company Before': OpenAI's Sam Altman Says ChatGPT is Growing at an Unprecedented Rate Ditch 'Basic' Nvidia and Buy This 'Unique' Chip Stock Instead Option Volatility And Earnings Report For July 21 - 25 Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Including its recent rally, Bit Origin stock is up more than 600% versus its year-to-date low. Why Is Bit Origin Stock Rallying on Dogecoin Treasury News? BTOG investors are cheering the capital raise announcement as it signals strategic conviction and long-term vision. Bit Origin is positioning itself as a top corporate holder of Dogecoin to benefit from its vibrant community and growing relevance in payment systems. This could improve investor appeal, drive demand for its miner-facing and payment services, and create asymmetric upside if DOGE appreciates. Bit Origin has already closed the initial $15 million under the convertible debt agreement which demonstrates execution readiness and immediate capital deployment, adding credibility to the strategy. In short, a Dogecoin treasury strategy positions the business as an innovator, potentially boosting BTOG sentiment as the overall narrative transforms from mining only to digital asset infrastructure. Here's Why You Shouldn't Touch BTOG Shares With a 10-Ft Pole While BTOG's crypto strategy is bold for sure, it's also speculative at best. Why? Because Dogecoin remains highly volatile, and its utility in payments is still evolving, not proven. Therefore, anchoring the Bit Origin stock valuation to a meme-driven asset exposes investors to unpredictable swings. Plus, BTOG shares don't currently receive coverage from Wall Street analysts, meaning limited institutional insights, no consensus estimates, and reduced visibility in mainstream financial circles. The lack of coverage makes it harder for investors to evaluate the company's prospects and creates a credibility gap. All in all, the aforementioned factors suggest the Dogecoin treasury strategy alone is not an adequately compelling reason to buy BTOG shares at current levels. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
7 days ago
- Business
- Yahoo
This Penny Stock Wants to Become the MicroStrategy of Dogecoin
Bit Origin (BTOG) shares are extending gains in morning trading on Monday after the crypto mining company announced plans of raising $500 million to launch a Dogecoin (DOGEUSD) treasury. In its press release, the Nasdaq-listed firm said it will raise about 20% of that capital via a sale of senior secured convertible notes while the rest of the funds will come from an equity offering. More News from Barchart It's Never 'Happened in the History of Tech to Any Company Before': OpenAI's Sam Altman Says ChatGPT is Growing at an Unprecedented Rate Ditch 'Basic' Nvidia and Buy This 'Unique' Chip Stock Instead Option Volatility And Earnings Report For July 21 - 25 Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Including its recent rally, Bit Origin stock is up more than 600% versus its year-to-date low. Why Is Bit Origin Stock Rallying on Dogecoin Treasury News? BTOG investors are cheering the capital raise announcement as it signals strategic conviction and long-term vision. Bit Origin is positioning itself as a top corporate holder of Dogecoin to benefit from its vibrant community and growing relevance in payment systems. This could improve investor appeal, drive demand for its miner-facing and payment services, and create asymmetric upside if DOGE appreciates. Bit Origin has already closed the initial $15 million under the convertible debt agreement which demonstrates execution readiness and immediate capital deployment, adding credibility to the strategy. In short, a Dogecoin treasury strategy positions the business as an innovator, potentially boosting BTOG sentiment as the overall narrative transforms from mining only to digital asset infrastructure. Here's Why You Shouldn't Touch BTOG Shares With a 10-Ft Pole While BTOG's crypto strategy is bold for sure, it's also speculative at best. Why? Because Dogecoin remains highly volatile, and its utility in payments is still evolving, not proven. Therefore, anchoring the Bit Origin stock valuation to a meme-driven asset exposes investors to unpredictable swings. Plus, BTOG shares don't currently receive coverage from Wall Street analysts, meaning limited institutional insights, no consensus estimates, and reduced visibility in mainstream financial circles. The lack of coverage makes it harder for investors to evaluate the company's prospects and creates a credibility gap. All in all, the aforementioned factors suggest the Dogecoin treasury strategy alone is not an adequately compelling reason to buy BTOG shares at current levels. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-07-2025
- Business
- Yahoo
DOGE Surges 14% as Open Interest, Treasury Bets Power Breakout Above 22 Cents
Dogecoin climbed from $0.21 to $0.24 during a volatile 24-hour session ending July 18 at 06:00 UTC, posting a 14.02% gain with a $0.04 range reflecting 17.6% volatility. The move was led by intensified whale buying, institutional inflows, and aggressive memecoin sector expansion. Market Summary • DOGE rallied 14.02% from $0.21 to $0.24 between July 17 07:00 and July 18 06:00 UTC, posting a $0.04 range with 17.6% volatility • Whale accumulation surpassed 1.2 billion DOGE in 48 hours, triggering breakout above $0.22 resistance at 21:00 UTC • Trading volumes peaked at 752.69 million during breakout phase, exceeding the 24-hour average of 698.42 million • Open interest rose 12.36% to $4.04 billion, with funding rates stable and long bias intensifying • Bit Origin secured $500 million in equity and debt to build DOGE-focused treasury operations Price Action Overview The rally accelerated after DOGE broke through $0.22 resistance at 21:00 UTC on July 17, triggering a wave of long interest and algorithmic inflows. Volumes spiked 7.8% above the session average as price surged from $0.22 to $0.24. That breakout created new high-volume support at $0.22–$0.225. In the final 60 minutes (July 18 05:36–06:35 UTC), DOGE whipsawed between $0.236 and $0.24 in a 1.67% trading range. Price briefly fell under selling pressure before recovering sharply to session highs — a classic profit-taking trap followed by institutional dip-buying. Technical Indicators • Open interest: $4.04 billion (+12.36%) across major exchanges, suggesting strong directional positioning • Whale inflows: 1.2B DOGE accumulated since July 16, per on-chain data from WhaleTrace • Support zones: $0.22–$0.225 (post-breakout high-volume consolidation) • Resistance zones: $0.245–$0.248 (previous multi-session highs) • Final hour volatility: 1.67% intraday swing with rapid reversals between $0.236–$0.24 Sector Momentum DOGE's rally helped lift the total memecoin market cap to $72 billion, up $17 billion in July. With Bit Origin's treasury plans and elevated open interest, analysts say DOGE could test the $0.26–$0.28 band next.(Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Time of India
20-07-2025
- Business
- Time of India
Cryptocurrency Live News & Updates : Strategy's Bitcoin Holdings Exceed $71 Billion
20 Jul 2025 | 11:45:13 PM IST Michael Saylor, co-founder of Strategy, announced a new Bitcoin acquisition, bringing the company's total holdings to over $71 billion after purchasing 4,225 BTC for $472.5 million. In a significant market development, Strategy has surpassed $71 billion in Bitcoin holdings, with a recent acquisition of 4,225 BTC. This surge is part of a broader trend where Bitcoin treasury companies are driving demand alongside institutional investors and ETFs. Meanwhile, Bit Origin is making headlines with plans to establish a $500 million Dogecoin treasury, inspired by the potential integration of DOGE into Elon Musk's upcoming payment tool. Despite its past struggles, Bit Origin's stock has seen a recent uptick due to this announcement. In the trading arena, Binance Coin (BNB) is experiencing a surge, recently hitting $765, driven by robust DEX volumes and stablecoin activity. Ethereum has also crossed the $3,800 mark, reflecting a 6.79% increase in 24 hours. As the cryptocurrency market continues to evolve, these developments highlight the increasing integration of digital assets into traditional finance and the ongoing interest in both established and emerging cryptocurrencies. Show more
