Thumzup’s $10 Million Buyback and Mining Move Boost Dogecoin Interest
Thumzup Media's Strategic Moves
- Thumzup Media announced a $10 million stock buyback and expanded into Dogecoin mining.
- The company acquired DogeHash Technologies, aiming for 3,500 mining rigs by year-end.
- Holds 19 BTC and 7.5 million DOGE, valued at approximately $1.7 million.
- Donald Trump Jr. is a majority shareholder, attracting public attention.
Dogecoin Market Dynamics
- DOGE tested a key demand zone at the 200-day EMA; pivotal for future price action.
- A bounce could lead to targets of $0.29 and potentially $0.40 if momentum sustains.
- Reports suggest institutional players like CleanCore are accumulating large DOGE stakes.
- Treasury moves could remove coins from active trading, affecting liquidity.
Institutional and Development Insights
- CleanCore aims to hold 5% of DOGE's circulating supply in its treasury.
- The launch of REX-Osprey Dogecoin ETF increases institutional access.
- Developers propose adding ZK proof verifications and token burns to the Dogecoin protocol.
Key Indicators for Traders
- Watch volume, ETF flows, and Thumzup's mining expansion.
- Technical levels around the 200-day EMA and rising wedge pattern are crucial.
- Long-term impacts may arise from institutional interest and protocol updates.