Shares Jump 28% as Market Reacts to Dogecoin Strat

Shares Jump 28% as Market Reacts to Dogecoin Strategy

Shares of Bit Origin surged 28% in morning trading after the announcement to $0.52. The company’s valuation has fallen by almost 100% since it was listed on the Nasdaq in 2019, as it has incurred excessive market losses. Despite being down 36.61% this year, the DOGE treasury announcement helped recapture investor interest.

As of Thursday, Dogecoin, which started as a meme coin, has gradually gained mainstream attention and adoption. Its price increased by 3.6% over the past 24 hours to $0.21, following the announcement of Bit Origin’s initiative.