Dogecoin Price Skyrockets as DOGE Massively Outpaces Bitcoin, Ethereum Gains

DOGE is having its day (again), with Dogecoin putting up enormous gains on the week amid growing corporate and institutional interest in the O.G. meme coin.

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Dogecoin has surged by nearly 13% over the last day alone, topping the $0.30 mark on Saturday morning for the first time since the start of February. At a current price of $0.299, DOGE has pumped by about 40% over the last week.

Other major coins have had strong weeks, as well, with Solana up 18% during that span and XRP putting up a nearly 12% jump. But Dogecoin remains the top dog among the 10 most valuable cryptocurrencies by market cap.

It’s also crushing recent gains by Bitcoin and Ethereum, which are up 4.5% and about 9% over the last week, respectively.

Dogecoin is finally getting some institutional attention after analysts told Decrypt that the lack of it was contributing to Dogecoin remaining well below its all-time high mark from 2021, while other major coins hit recent highs.

Unlike Bitcoin and Ethereum, DOGE hasn’t had big companies loading up on it or ETFs driving investor demand. But that’s changing fast.

This week, publicly traded CleanCore Solutions—which trades as ZONE on the NYSE American—started amassing sizable amounts of Dogecoin, buying over 500 million DOGE now worth about $148 million. The firm is working with House of Doge, the commercial side of the Dogecoin Foundation, and calling itself an “official” DOGE treasury company.

CleanCore’s CIO Marco Margiotta said in a statement this week that it wants to make Dogecoin a serious reserve asset while expanding its use for payments and other financial services. It’s an ambitious vision for what started as a joke cryptocurrency.

There’s also buzz around the first U.S. spot Dogecoin ETF from Rex-Osprey (ticker: DOJE), which will let regular investors buy into DOGE through their traditional brokers. It’s been delayed multiple times now, with trading originally set to begin on Thursday, then Friday, and now expected to be sometime next week per Bloomberg Senior ETF Analyst Eric Balchunas.

But the delays haven’t slowed Dogecoin’s momentum in recent days, given the continued surge.