DOGE (Dogecoin) rose 2.99% in 24 hours

Gate News Bot news, on October 20, according to CoinMarketCap data, as of the time of writing, DOGE (Dogecoin) is currently priced at $0.19, with a pump of 2.99% in the last 24 hours, reaching a high of $0.22 and a low of $0.18. The 24-hour volume reached $2.078 billion. The current market capitalization is approximately $29.435 billion, an increase of $855 million compared to yesterday. DOGE currently ranks 9th in the Crypto Assets market capitalization.

Important recent news about DOGE:

1️⃣ Gate contract points airdrop activity drives short-term demand Gate started the first phase of the contract points airdrop event on October 17, with the airdrop token being DogeCoin (DOGE). The event adopts a tiered model, where users holding ≥12 Gate contract points can consume 10 points to receive 152 DOGE. This activity may stimulate short-term DOGE demand and provide support for the price.

2️⃣ The company under the Dogecoin Foundation plans to go public The official corporate division of the Dogecoin Foundation, House of Doge, will go public on NASDAQ through a reverse merger. After the merger is completed, House of Doge will become the controlling shareholder and plans to launch services for merchants priced in Dogecoin, payment infrastructure, data and licensing, as well as treasury management. This initiative is expected to bring more mainstream attention and potential application scenarios for DOGE, enhancing its long-term value.

3️⃣ Institutions significantly increase holdings of DOGE CleanCore Solutions has incorporated over 710 million DOGE into its financial reserves, with a total value of approximately $174 million, approaching its target of 1 billion DOGE holdings. The company has currently achieved over $20 million in unrealized gains. This massive accumulation reflects institutional confidence in DOGE and may potentially impact market supply, providing support for DOGE prices.

From a technical perspective, the DOGE price has seen a rise within 24 hours, possibly driven by the positive factors mentioned above. On the fundamental side, institutional holdings and potential mainstream application expansion bring long-term development potential for DOGE, but short-term market sentiment may still fluctuate. Investors need to closely monitor the overall trends of the global Crypto Assets market and the unique ecosystem development of DOGE.

This message is not an investment advice, and investors should be aware of market volatility risks.