The Dogecoin Vault Company Supported by Elon Musk Will Launch Soon: Will DOGE Reach 0.4 USD?

Dogecoin has recently surged following reports of a Dogecoin hedge fund set to launch that specializes in accumulating this asset. This dog-themed coin has slightly increased from $0.210 to $0.219. However, this upward momentum did not last long as DOGE fell to $0.2156 at the time of writing. According to market data, this coin has increased by 0.33% in the past 24 hours. All About Dogecoin Treasury According to a report from Fortune magazine, this plan was initiated when potential investors were approached. Citing the testimony of six individuals closer to the case (, a potential investor and five reliable sources ), Elon Musk's personal attorney, Alex Spiro, is said to be the potential chairman of this public company. Spiro's involvement has sparked speculation about Musk's potential interest, who has previously collaborated with DOGE and led to the surge in value of this coin. According to two sources, the Dogecoin Treasury Company (Dogecoin Treasury Company) plans to raise $200 million with the endorsement of House of Doge, a company launched by the Dogecoin Foundation earlier this year. However, the structure and launch date have not yet been disclosed. This development is taking place against the backdrop of a growing trend of DOGE fund management companies. In February, Neptune Digital Assets, a Vancouver-based company, acquired 1 million DOGE through a strategic derivatives purchase. Another company listed on Nasdaq, Bit Origin, has also announced plans to establish a DOGE fund management company, raising $500 million in debt and equity to support this move, as mentioned in our previous newsletter. At that time, the CEO, COO, and Chairman of the Board of Bit Origin, Jinghai Jiang, emphasized that the company's decision was influenced by the common interests of the organization. We see the utility potential of Dogecoin for micro-payments approaching a tipping point, driven by new development activity and a broader interest from institutions in cryptocurrency. While we appreciate its cultural origins, which have contributed to liquidity and global familiarity, we believe current market conditions align with the growth of Dogecoin towards decentralized finance. As mentioned in the previous discussion, Spirit Blockchain Capital Inc. has revealed its intention to generate profits from holding DOGE. Musk's Tesla company has also shown similar interest. The company began accepting DOGE for certain specific purchases in 2022. As mentioned in our recent post, Musk may also turn DOGE into the official token for the Republican Party, which is expected to be established in the future. Analysts Talk About Dogecoin Analysts, including Ali Martinez, have predicted that the price of DOGE will return to its yearly high. According to Martinez, this asset has been and is trading within a long-term upward channel. The upper line of this channel serves as a resistance point, while the lower line acts as a support threshold. He also believes that the current price is a perfect buying zone, which has triggered price increases in the past.