Dogecoin Slides Despite Prospects of $200 Million Treasury Project
Dogecoin dipped below $0.21, marking a 2% decline in the past day. Despite rumors of an exciting new venture, the cryptocurrency’s value took a hit. reports suggest that Elon Musk’s lawyer, Alex Spiro, is spearheading a Dogecoin treasury effort to raise $200 million from the public.
The initiative, backed by the official Dogecoin organization known as the house of Doge, aims to attract investors interested in攀升的DOGE市场。然而，市场的反应较为冷淡，这表明交易者可能更注重基本面而非炒作。
Despite this challenge, analysts see potential for growth. Analyst Ali believes “Dogecoin $DOGE is poised for a 30% surge,” hinting at positive technical momentum ahead.
- Alex Spiro leads the proposed treasury project.
- The House of Doge supports the endeavor.
- Dogecoin’s price remains volatile despite upbeat news.
Spiro, renowned for defending Musk in crypto-related lawsuits, secured the dismissal of a 2022 lawsuit alleging market manipulation via social media.
Historically, Dogecoin prices surged after Musk’s prominent mentions. A prime example was the 2021 incident during Saturday Night live, where Musks joked about Dogecoin leading to price volatility.
Currently, Dogecoin faces a weekly drop of nearly 9%. If the treasury project takes off, it could add consistent buying pressure, potentially boosting CoinGecko’s recorded market trends.
