Bit Origin’s DOGE purchase for its crypto treasury could improve sentiment and boost the altcoin above the $0.29 resistance.
Key point:
Bit Origin’s DOGE purchases for its crypto treasury could limit the downside and open the doors for a rally above $0.29.
China-based pork processing company and Bitcoin miner Bit Origin said on Monday that it had completed the acquisition of 40.5 million Dogecoin (DOGE) for its crypto treasury. Earlier, the firm said on July 17 that it aims to become the largest publicly traded DOGE holder. For that, the firm has entered into agreements with investors to raise $500 million via a combination of share sales and debt offerings.
