Dogecoin News Today: Elon Musk's Lawyer Joins Dogecoin's Institutional Push

Dogecoin is showing signs of a potential breakout as the cryptocurrency enters a pivotal period marked by growing institutional interest and speculative momentum. Recent on-chain data and market behavior suggest that DOGE is in the early stages of a bullish move, supported by a golden cross, whale accumulation, and the possibility of a dedicated ETF product. Meanwhile, the formation of a $200 million Dogecoin treasury, led by Elon Musk’s personal lawyer Alex Spiro, adds another layer of institutional credibility to the token.

The golden cross—a technical indicator where the 50-day moving average crosses above the 200-day moving average—was confirmed for Dogecoin in late August 2025, signaling a potential long-term upward trend. This event, coupled with the formation of a “double bottom” on price charts, has drawn attention from analysts who are now forecasting up to an 80–100% price increase if current conditions persist [1]. Short-term support levels are currently identified around $0.220–$0.232, with resistance near $0.238. A breakout above $0.238 could push the price toward $0.42–$0.48, depending on sustained volume and accumulation patterns.

Whale activity has also intensified, with over 1 billion DOGE tokens being acquired in the past 48 hours [1]. This movement reflects growing confidence among large investors, who appear to be positioning ahead of potential ETF approval. The speculation around a Dogecoin ETF has been bolstered by the recent approvals for Ethereum and Solana-based products, creating a favorable narrative for investors seeking exposure to altcoins with strong community backing and social media traction.

Adding to the institutional momentum, a new Dogecoin treasury initiative is set to raise at least $200 million, according to multiple sources familiar with the deal. Alex Spiro, Musk’s legal representative, is expected to serve as the chairman of the company, which will hold and invest in Dogecoin as a corporate asset [2]. This initiative is being managed by the House of Doge, an official corporate entity launched in early 2025 by the Dogecoin Foundation and based in Miami. The treasury is designed to act as an intermediary for institutional and retail investors, offering a more traditional financial vehicle for exposure to Dogecoin’s price action without direct token ownership [3].

The Dogecoin treasury initiative is part of a broader trend in which publicly traded companies are increasingly allocating capital to cryptocurrencies. This movement, which began with companies like MicroStrategy investing in Bitcoin , is now extending to altcoins, with Dogecoin being one of the latest to gain traction among institutional players. The success of such initiatives often hinges on the perceived legitimacy of the token and its alignment with market sentiment. In Dogecoin’s case, the involvement of high-profile legal and business figures may be seen as an endorsement of its growing utility in the crypto landscape [3].

Ethereum, meanwhile, continues to benefit from strong ETF inflows, with spot ETFs drawing in nearly $3 billion in August 2025 alone [1]. The Ethereum price has pushed to new highs above $4,867, with forecasts pointing to a potential move toward $5,000–$6,000 if macroeconomic conditions remain supportive and on-chain activity continues to strengthen. Institutional holdings have surpassed $17 billion, reinforcing Ethereum’s role as a core component of the digital asset portfolio [1].

As the market braces for ETF season and potential regulatory developments, Dogecoin appears to be positioning itself as a token of increasing strategic interest. The combination of technical strength, whale accumulation, and institutional validation through the new treasury initiative suggests that DOGE may be entering a phase of sustained growth. While volatility and regulatory uncertainty remain, the current trajectory highlights the growing convergence between traditional finance and the crypto market.

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