Bit Origin has completed a private placement, increasing its Dogecoin holdings to over 70 million coins. This move has attracted analysts’ attention, who discuss positive forecasts for DOGE.
Private Placement and Dogecoin Holdings
Bit Origin Ltd expanded its Dogecoin holdings to 70,543,745 DOGE after closing a private placement on August 12, 2025. The transaction involved issuing 20 million Class A ordinary shares in exchange for 30 million DOGE at $0.20 per DOGE. Consequently, the company’s average acquisition cost now stands at approximately $0.2268. Market data from CoinGecko shows DOGE trading near $0.2303, placing the company’s position slightly in profit. The company stated that this DOGE-denominated financing supports its digital asset strategy and strengthens its treasury reserves.
Market Analysis and Price Outlook
On the technical front, Dogecoin confirmed a bullish crossover between the 50-day and 200-day simple moving averages on the daily chart, which often precedes significant price movements. Analyst Ali Martinez highlighted that DOGE has formed a bullish flag pattern on the hourly chart, projecting a breakout target near $0.27, supported by Fibonacci extension levels. Current price action shows consolidation near $0.225 after a retracement from recent highs, indicating potential continuation. Trading volume in the last 24 hours reached approximately $2.45 billion.
Conclusion
In summary, Bit Origin's actions in increasing its Dogecoin holdings and the current market situation create a foundation for potential price increases in the future.
In conclusion, Bit Origin's strategy in expanding its Dogecoin reserves and the favorable market indicators suggest a potentially positive outlook for the value of DOGE.
