On this Friday afternoon, I’ve noticed a notable upward trend for Dogecoin (DOGE). In comparison to the past 24 hours, its price has climbed about 8% as of 6:40 p.m. ET. Contrastingly, Bitcoin was dipping by roughly 1.9%, and Ethereum managed a modest increase of around 2.5%.
On Thursday, the U.S. House of Representatives endorsed the Genius Act, which positively impacted the value of Dogecoin and other digital currencies. Although its value has increased somewhat recently, Dogecoin’s price is still about 30% lower compared to its year-to-date valuation.
Dogecoin is surging amid legislative wins
Cryptocurrency tokens experienced a boost after the House of Representatives approved the first legislation providing clear-cut rules for the crypto industry, known as the Genius Act. This approval seems to institute new standards that could potentially stimulate growth within the crypto sector. Although regulations can sometimes hinder growth, establishing definitive guidelines might encourage the acceptance and use of cryptocurrencies like Dogecoin.
What’s next for Dogecoin?
This year, Dogecoin has experienced significant fluctuations in its value, but it’s recently garnered some strategic investments that might pique investors’ interest. Yesterday, Bit Origin declared they had secured $500 million in funding and plan to utilize this fresh capital to expand their Dogecoin holdings. The tactic of creating a crypto treasury by issuing new shares or incurring debt to acquire cryptocurrencies has gained popularity recently. If companies decide to amass substantial Dogecoin holdings and demonstrate long-term commitment to the meme coin, it could potentially boost Dogecoin’s valuation.
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2025-07-19 11:57