Dogecoin (DOGE) price has jumped by approximately 7% in the last 24 hours to reach $0.181 on March 25. The memecoin was trading for $0.189 at its intraday top, its highest level in almost two weeks.
DOGE/USD four-hour price chart. Source: TradingView
Key factors driving the DOGE prices higher today include:
A DOGE reserve initiative undertaken by the Dogecoin Foundation
Risk appetitive recovery on easing trade war fears.
A classic flag pattern on the DOGE price chart.
Dogecoin Foundation buys 10 million DOGE
DOGE’s ongoing price rise coincides with the launch of the Official Dogecoin Reserve, a move designed to stabilize the memecoin and boost institutional confidence.
Key points:
On March 24, the Dogecoin Foundation revealed the creation of the “Official Dogecoin Reserve” aimed at supporting DOGE’s long-term price stability and credibility.
As part of the initiative, the foundation has purchased 10 million DOGE worth around $1.80 million.
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