Bit Origin Boosts DOGE Holdings Past 70M as Analysts Eye $0.27 Target

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Key Points:

• Bit Origin finalized a private placement, acquiring 30 million DOGE at $0.20 each.
• The company's average cost for acquiring DOGE is now $0.2268 per coin.
• Analysts point to a bullish technical formation for DOGE, suggesting potential price increases.

Bit Origin Ltd. has increased its Dogecoin holdings to a total of 70,543,745 DOGE following the completion of a private placement on August 12, 2025.

The transaction involved the issuance of 20 million Class A ordinary shares in exchange for 30 million DOGE, priced at $0.20 per DOGE. As a result, the company's pro forma DOGE-per-share ratio is now approximately 0.80.

This action builds upon their previously announced $500 million equity purchase and convertible note facility, an initiative aimed at establishing a significant corporate DOGE treasury.

Currently, Bit Origin's average acquisition cost for its DOGE holdings is about $0.2268. According to market data from CoinGecko, DOGE is trading near $0.2303, placing the company's position slightly in positive territory.

In its August 12 filing, Bit Origin stated that this DOGE-denominated financing supports its broader digital asset strategy and bolsters its treasury reserves.

"We continue to reimagine how capital formation can align with our digital asset strategy," commented Chairman and CEO Jinghai Jiang in the company's statement.

Market Analysis and Price Outlook

From a technical analysis perspective, Dogecoin has confirmed a bullish crossover between the 50-day and 200-day simple moving averages on the daily chart, according to observations from Trader Tardigrade.

Historical patterns indicate that these types of crossovers often precede substantial upward price movements. The analyst noted that DOGE's current chart structure is reminiscent of past setups that led to significant rallies.

Furthermore, Ali Martinez has identified a bullish flag pattern forming on DOGE's hourly chart. He projects a potential breakout target near $0.27, supported by Fibonacci extension levels.

The current price action indicates consolidation around $0.225, following a retracement from recent highs, which aligns with the potential for the pattern to continue.

Trading volume over the past 24 hours has reached approximately $2.45 billion, suggesting strong market engagement, as reported by CoinGecko.