Dogecoin Eyes $200M Treasury Backing as Price Stalls Near $0.215

Dogecoin is back in motion after reports emerged that Alex Spiro, Elon Musk’s lawyer, is leading the charge to create a $200 million...

Written by: Arslan Butt • Saturday, August 30, 2025 • 2 min read

• Last updated: Saturday, August 30, 2025

Quick overview

Dogecoin is experiencing renewed interest with plans for a $200 million Dogecoin Treasury led by Alex Spiro, Elon Musk's lawyer.
The treasury aims to formalize the House of Doge, which was established by the Dogecoin Foundation earlier this year.
Despite a recent bounce in trading volume, DOGE's price is struggling to regain momentum, facing resistance at key levels.
Traders are watching closely for a breakout above $0.221 or a breakdown below $0.2117 to determine the next significant price movement.

Dogecoin is back in motion after reports emerged that Alex Spiro, Elon Musk’s lawyer, is leading the charge to create a $200 million Dogecoin Treasury. The plan was pitched to investors recently and will formalize the House of Doge, which was created by the Dogecoin Foundation earlier this year.

Spiro will chair the new public entity. While Musk’s direct involvement hasn’t been confirmed, his influence on Dogecoin is undeniable. Musk’s endorsements – sometimes just a single tweet – have driven DOGE moves multiple times.

The treasury plan mirrors other efforts in the space. BitOrigin is working on a larger $500 million Dogecoin Treasury, showing growing institutional interest in the meme coin.

DOGE Bounces, But Stalls

News of the treasury helped Dogecoin bounce off the $0.21 support, with daily trading volume up 45% to $2.58 billion. But price action is hesitant. DOGE is stuck at $0.215, struggling to regain momentum after a big rejection at $0.2248.

On the 2-hour chart, the token is capped below the 50-EMA ($0.2179) and the 200-EMA ($0.2216) – two big ceilings that reinforce the bigger trend. The descending trendline from recent highs is resistance, with candlesticks showing long upper wicks at $0.217, indicating sellers are stepping in quickly.

Momentum indicators agree. The RSI is at 42, below the midline, and the MACD histogram is flat, showing no conviction from bulls or bears.

Breakout or Breakdown?

For traders, it’s binary. A close above $0.217–$0.221 would break the trendline and 200-EMA resistance, and open up $0.232 and possibly $0.239 if momentum builds. Below $0.2117 and it’s $0.205 and then $0.1996.

Dogecoin Price Chart - Source: Tradingview — Dogecoin Price Chart – Source: Tradingview

Bullish trigger: Break above $0.221 could push to $0.232–$0.239.
Bearish trigger: Break below $0.2117 and it’s $0.205–$0.199.

In a nutshell, Dogecoin is between falling resistance and horizontal support. The next move—up or down—will be the next 10% move. For investors, the $200M treasury could be the spark that gives DOGE some credibility when the charts are so mixed.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.