- DOGE price bounced from $0.21 support after strong market selling pressure.
- Elon Musk’s lawyer is pitching a $200M Dogecoin Treasury company.
- House of Doge has officially approved the treasury initiative.
- DOGE trading volume surged 45% to $2.58 billion in the last 24 hours.
DOGE price has rebounded from its key $0.21 support level after reports emerged that Elon Musk’s lawyer, Alex Spiro, is backing a new $200 million Dogecoin Treasury initiative. The corporate entity overseeing Dogecoin, House of Doge, has reportedly signed off on the plan. This development has drawn renewed attention to the memecoin as daily trading volume climbed by 45% to $2.58 billion.
Elon Musk’s Lawyer Leads $200 Million Dogecoin Treasury Proposal
Sources say Alex Spiro, who serves as Elon Musk’s personal lawyer, is pitching a proposal to raise $200 million for a new Dogecoin Treasury company. The initiative aims to create an official public entity to manage DOGE-related funds and development. Five sources confirmed that Spiro is expected to chair the new company.
While Spiro’s role appears certain, Elon Musk’s involvement remains unknown. Despite his long-standing influence in the Dogecoin community, Musk has not publicly addressed this initiative. However, investor presentations shared with insiders link the treasury effort to his circle. These materials suggest that Spiro is leading the project, with support from key players in the Dogecoin ecosystem.
House of Doge, the corporate body created by the Dogecoin Foundation in early 2025, has reportedly approved the treasury proposal. This approval establishes the new entity as Dogecoin’s official public vehicle. The plan is said to be separate from a larger $500 million Dogecoin Treasury initiative already in progress by BitOrigin, another firm active in the crypto space.
DOGE Price Recovers from $0.21 Support
Following these developments, DOGE price has shown signs of recovery after falling to $0.21. The memecoin had faced sustained selling pressure due to the broader weakness in the crypto market. Since touching that support level, DOGE has bounced and is now consolidating within a symmetrical triangle pattern.
Technical analysis suggests that Dogecoin may be setting up for a major move. Popular crypto analyst Ali Martinez stated that “a 30% breakout in either direction could be next.” The price pattern shows clear boundaries, with resistance around $0.28 and strong support at $0.21. However, the coin remains range-bound for now.
Source: Ali Chart/X
DOGE has lagged behind other altcoins in recent weeks. It has posted negative monthly returns and has not seen any major price catalyst. The news around the treasury plan has sparked renewed interest, though price movement has so far stayed within its established range.
Role of House of Doge and Future Outlook
The House of Doge price plays a key role in the governance and promotion of Dogecoin. Formed in early 2025 by the Dogecoin Foundation, the entity oversees the development of dogecoin and its related activities. With its approval of the treasury plan, it is now backing an official structure to handle DOGE funding.
This move aligns with efforts by other companies trying to establish large-scale DOGE-related funds. BitOrigin’s separate $500 million treasury project is also ongoing, showing that institutional interest in Dogecoin is growing. While details on Musk’s direct involvement remain unclear, Spiro’s leadership may provide some direction for DOGE future developments.
The success of this treasury initiative could affect the way Dogecoin projects are funded going forward. While the market waits for more updates, the coin’s recent bounce from key support and rising volume suggest traders are watching closely.
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