Dogecoin Captures Spotlight through Strategic Moves and Price Surge

Recently, altcoins have been leading the impressive rises in the cryptocurrency market, with Dogecoin (DOGE) capturing significant attention by surging 43% in just one week. Key factors influencing Dogecoin’s price increase include ETF anticipation and new companies incorporating this cryptocurrency into their treasury reserves. Notably, U.S.-based cleaning company CleanCore Solutions announced accumulating 500 million Dogecoin as part of its strategic acquisition plan. The company revealed purchasing 285 million DOGE just this week, aiming to reach 1 billion DOGE in 30 days, supported by a $175 million private investment backed by Pantera, GSR, and FalconX.

Impact of Football Club Investment

Dogecoin has drawn attention not only due to corporate acquisitions but also because of its stride into the sports world. U.S. Triestina Calcio 1918, one of Italy’s oldest professional football clubs, announced that House of Doge, the corporate arm of the Dogecoin Foundation, is now its largest shareholder. This investment was made through Dogecoin Ventures, House of Doge’s subsidiary. This development marks a significant step as a European football club directly integrating a cryptocurrency organization as a shareholder.

Price Movements and Technical Outlook

In the past 48 hours, Dogecoin exhibited a remarkable rise with two substantial green candlesticks. On Saturday, its price soared from $0.272 to $0.3069. Sustaining its upward trend consecutively for four days since September 9, DOGE recorded green closures on six out of the past seven days since September 6. It successfully broke the 50-day moving average of $0.225. At the time of writing, Dogecoin is trading at $0.3056, experiencing a 15.11% daily and 43% weekly increase.

According to crypto analyst Ali, Dogecoin remains in the “buy” zone with its bullish trend strongly continuing. Highlighting this surge, analyst Rex Osprey suggests that the upcoming launch of the DOGE ETF in the U.S. next week could act as a catalyst for this rise.