TLDR
- Elon Musk’s lawyer Alex Spiro is set to chair a new $200 million Dogecoin treasury company backed by House of Doge
- The public company aims to hold Dogecoin on its balance sheet, giving investors stock market exposure to DOGE without direct ownership
- DOGE is showing technical strength with a double bottom pattern and trading around $0.215 after breaking above key resistance levels
- Key resistance zone sits at $0.245-$0.27, with potential targets at $0.40 and the psychological $1 mark if broken
- Several companies including Neptune Digital Assets and Bit Origin have already added Dogecoin to their treasury holdings
Dogecoin is gaining momentum from both institutional developments and technical chart patterns. The memecoin is currently trading around $0.215 and showing signs of strength.
Elon Musk’s attorney Alex Spiro is set to chair a new public company designed to raise $200 million for Dogecoin investments. The initiative comes with backing from House of Doge, the corporate entity launched by the Dogecoin Foundation in early 2025.
The proposed company would function as a treasury vehicle. It would hold Dogecoin on its balance sheet and give investors stock market exposure to the token without requiring direct ownership.
Six people familiar with the deal confirmed these details to Fortune. The effort remains in the pitch stage with no disclosed timeline or final structure details.
Spiro works as a partner at Quinn Emanuel Urquhart and Sullivan. He has represented high-profile clients including Elon Musk, Jay-Z, and Alec Baldwin.
Growing Treasury Trend
This year has seen multiple publicly traded companies rebrand as crypto treasury vehicles. These companies raise funds specifically to buy and hold digital assets on their balance sheets.
Vancouver-based Neptune Digital Assets bought 1 million Dogecoin in February 2025. The company paid an average price of $0.37 per token through a strategic derivative purchase.
Nasdaq-listed Bit Origin announced in July that it secured up to $500 million in financing to build its DOGE treasury. This made it the first US-traded company to openly plan Dogecoin as its core balance sheet asset.
Tesla also holds undisclosed amounts of Dogecoin. The electric car company began accepting DOGE for select merchandise purchases in early 2022.
Musk has maintained a long relationship with Dogecoin since 2019. He posted that year that Dogecoin “might be my fav cryptocurrency.”
His Saturday Night Live appearance in May 2021 created market volatility. He jokingly called Dogecoin a “hustle” during the show, causing the price to drop after weeks of hype.
Dogecoin Price Prediction
DOGE is displaying technical strength through chart patterns. The token has formed a double bottom pattern within an ascending triangle structure.
This combination typically signals momentum shifting toward buyers. DOGE recently broke above its EMA ribbon, confirming the pattern.
The $0.245-$0.27 zone represents critical resistance. This area has previously rejected price advances and serves as a key test for bulls.
Support currently sits at $0.21. Holding this level keeps the path clear for a move toward $0.40 in the near term.
A successful break above $0.27 resistance opens the door to higher targets. The next major level sits at $0.40, with the psychological $1 mark beyond that.
However, a breakdown below $0.21 support could trigger a pullback. Traders would then watch for support around $0.19-$0.20 before another upward attempt.
The House of Doge treasury approval provides fundamental backing for the technical setup. Combined with renewed community interest, these factors support the case for continued bullish momentum as long as support levels hold.
