Over the last week, Dogecoin (DOGE) has experienced a significant surge in value, outperforming other major cryptocurrencies. As of 3 p.m. ET on Sunday, its share price had increased by approximately 35.1%. In contrast, Bitcoin saw a minor decrease of 0.5% during the same period, while Ethereum posted gains of around 25.3%.
While Bitcoin’s price surge took a pause after reaching an all-time high, the past week has shown robust positive trends for alternative cryptocurrencies. The Dogecoin token experienced significant growth due to the approval of crypto-related bills in the U.S. House of Representatives and news that Bit Origin plans to incorporate Dogecoin as a key component in its cryptocurrency reserves strategy.
Dogecoin soars after “Crytpo Week” and the passage of the GENIUS Bill
On Thursday, during its “Crypto Week” event, the House of Representatives endorsed the GENIUS Act. The next day, President Trump turned the bill into law. The GENIUS Act sets up the initial regulations for cryptocurrency stablecoins, and during the signing, Trump made statements that investors interpreted as highly favorable towards the crypto sector.
Alongside the GENIUS Act, the House of Representatives also approved the Clarity Act. This act is designed to create a clear structure that specifies which assets fall under the jurisdiction of the Securities and Exchange Commission (SEC). The Senate needs to review the Clarity Act before it can become law. If passed, it would restrict the SEC’s regulatory authority over the cryptocurrency market.
Support for the cryptocurrency sector strengthening led to significant increases in value for Dogecoin and other alternative coins. However, even with recent growth in valuation, Dogecoin’s token price remains about 65% lower than its all-time peak.
What’s next for Dogecoin?
From my perspective, while Bitcoin and Ethereum have been the focus of many corporate cryptocurrency investments, Dogecoin and similar meme-based tokens haven’t garnered much interest from investors until now. However, that trend might be shifting.
On the 17th of July, Bit Origin unveiled a press statement disclosing their intention to gather $500 million through the sale of new stocks and convertible debt offerings. This capital influx is destined to be utilized in procuring Dogecoin for their corporate treasury. As of now, it’s premature to speculate whether Dogecoin will persistently attract substantial investment from companies adopting cryptocurrency treasury strategies. However, growing endorsement within this sphere could potentially serve as a significant bullish catalyst for the token.
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2025-07-21 10:12