DOGE (Dogecoin) rose 2.17% in 24 hours

Gate News Bot news, on October 21, according to CoinMarketCap data, as of the time of writing, DOGE (Dogecoin) is currently priced at $0.20, with a rise of 2.17% in the past 24 hours, reaching a high of $0.21 and a low of $0.18. The current market capitalization is approximately $30.1 billion, an increase of $641 million compared to yesterday, ranking 9th in the global Crypto Assets market capitalization.

Dogecoin is an open-source peer-to-peer digital currency that is loved by Shiba Inu enthusiasts. As a Crypto Asset, Dogecoin utilizes blockchain technology to store information as a public ledger through a highly secure decentralized system maintained by a network of computer nodes. The Dogecoin community is known for its friendliness, mutual assistance, and fun, and its unofficial slogan is “Do Only Good Everyday.”

Important news about DOGE recently:

1️⃣ Gate Contract Points Airdrop Event Boosts Market Sentiment Gate launched the first phase of the contract points airdrop event on October 17, selecting DOGE as the airdrop token. The event adopts a tiered model, where users holding ≥12 Gate contract points can consume 10 points to receive 152 DOGE. This initiative may stimulate short-term market demand and provide support for the DOGE price.

2️⃣ The DOGE Foundation subsidiary plans to go public on Nasdaq The official corporate division of the Dogecoin Foundation, House of Doge, is preparing for a NASDAQ listing through a reverse merger. Upon completion of the merger, House of Doge will become the controlling shareholder and plans to develop services for merchants priced in Dogecoin, payment infrastructure, data and licensing, as well as treasury management. This strategic move is expected to bring more mainstream attention and potential application scenarios to DOGE, enhancing its long-term value.

3️⃣ Institutional investors massively increase their holdings of DOGE CleanCore Solutions has incorporated over 710 million DOGE into its financial reserves, with a total value of approximately $174 million, nearing its target of 1 billion DOGE holdings. The company has currently realized over $20 million in unrealized gains. This large-scale increase in holdings not only reflects institutional confidence in DOGE, but may also have a certain impact on market supply, providing potential support for DOGE prices.

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

This message is not intended as investment advice; investors should be aware of market volatility risks.