Dogecoin Surges with New $200 Million Treasury Initiative

• Alex Spiro, Musk’s lawyer, is working on a $200 million Dogecoin Treasury plan, which could boost DOGE’s value.
• Following the treasury proposal, Dogecoin's trading volume surged by 45%, hitting $2.58 billion.
• Technical analysis suggests that a significant price breakout is possible, potentially driven by the treasury plan's success.

After facing significant selling pressure, Dogecoin (DOGE) has made a notable recovery, bouncing back from the $0.21 support level. This price surge follows news that Elon Musk’s lawyer, Alex Spiro, is leading an effort to create a Dogecoin Treasury valued at $200 million. According to reports, investors are being approached to participate in this new venture, signaling a renewed interest in the popular meme coin.

Alex Spiro, who serves as the personal lawyer to Elon Musk, is reportedly spearheading the formation of a $200 million Dogecoin Treasury. Sources familiar with the project reveal that House of Doge, the corporate body overseeing Dogecoin, has given its approval for the initiative. This marks a significant move for the Dogecoin ecosystem, which has faced volatility in recent months. The treasury would be the “official” vehicle for Dogecoin, solidifying its position in the crypto space.

The treasury proposal is expected to be led by Spiro, who is set to serve as the chairman of the new company. Though Musk’s direct involvement in the project remains unclear, his influence over Dogecoin continues to be a driving force within the community. As of now, Musk has refrained from commenting on the matter, leaving his role in the treasury plan uncertain.

A Surge in Trading Volume

The announcement of the Dogecoin Treasury plan has resulted in a sharp increase in DOGE trading volume. In the wake of the news, the daily trading volume for DOGE spiked by 45%, reaching $2.58 billion. This surge in trading activity follows a period of sideways movement for the coin, with DOGE struggling to maintain momentum after a rejection at $0.28. The recent price action appears to have given the token a fresh sense of direction, suggesting that the proposal could catalyze future growth.

House of Doge, established in early 2025 by the Dogecoin Foundation, is now the main entity behind the development and promotion of Dogecoin. The formation of the Dogecoin Treasury under this new structure represents a significant step forward for the meme coin. The proposal also comes as other companies, like BitOrigin, have been working on their own treasury initiatives, further increasing competition within the space.

Signs of Future Bullish Momentum

Technical analysis of DOGE’s price chart reveals that the token is consolidating within a symmetrical triangle pattern. Analyst Ali Martinez has indicated that a 30% breakout in either direction could occur, suggesting that the current setup could lead to either a bullish or bearish move. However, the treasury initiative could be the catalyst that drives Dogecoin prices higher, as investor confidence grows.