Thumzup Media’s $10 million stock repurchase and entry into Dogecoin mining have generated renewed interest in DOGE, but traders are carefully monitoring price movements for confirmation before declaring a rally.
Market Tests Key Trend Line
Reports have indicated that DOGE has recently retreated to a demand zone coinciding with the 200-day exponential moving average (EMA). This area is recognized as a pivotal point.
A strong rebound from this level could drive Dogecoin toward $0.29 in the near term. Should buyers break through the rising wedge pattern, the next identifiable target would be $0.40.
Some traders believe a surge to $1 is feasible if momentum significantly increases, although this would necessitate sustained buying pressure over a period.
Thumzup announces $10 million share repurchase program, reflecting confidence in our long-term strategy and our commitment to delivering value to shareholders.
Additionally, we highlight our digital asset treasury:
₿ 19.106 Bitcoins
~7.5M DogecoinsRead the press release:… pic.twitter.com/Z8oEKrIZz5
— Thumzup Media Corporation (@thumz_up) September 24, 2025
Thumzup’s Big Bet On Mining
According to company statements, Thumzup has acquired DogeHash Technologies and anticipates that the unit will operate 3,500 mining rigs by the end of the year. The firm also possesses 19 BTC and 7.5 million DOGE, the latter estimated at approximately $1.7 million in recent analyses.
Donald Trump Jr. is reported as a majority shareholder of Thumzup. As the son of US President Donald Trump, this linkage has attracted additional public attention to the firm’s cryptocurrency ventures. The $10 million buyback was characterized by executives as evidence of their confidence in the company’s stock.
Institutional Demand And Treasury Moves
Separate filings indicate other companies are discreetly acquiring Dogecoin shares. Reports suggest CleanCore currently holds 600 million DOGE within its treasury program and plans to continue purchasing to achieve 5% of the circulating supply.
An accumulation of this magnitude would reduce a substantial number of coins from active trading if the buying persists. The introduction of the REX-Osprey Dogecoin ETF has also been mentioned by market analysts as another factor contributing to increased institutional accessibility to DOGE.
Developers Push Protocol Upgrades
According to discussions in developer communities, there are proposals to incorporate native verification of zero-knowledge (ZK) proofs into Dogecoin. This modification would enable Layer-2 chains and applications that function more like smart contracts.
Some proposals also encompass methods for introducing token burns related to usage fees. If realized, these alterations could initiate new supply dynamics impacting DOGE’s investment narrative. However, these concepts remain in the proposal phase and will take time to transition from idea to implementation.
What Traders Should Watch
Monitoring volume, ETF inflows, and Thumzup’s progress in expanding mining as promised will be crucial indicators to observe. Technical thresholds around the 200-day EMA and the limits of the rising wedge will be significant for anyone assessing short-term risk.
Institutional interest and actual protocol changes represent broader, slower-moving forces that could redefine Dogecoin’s narrative over months instead of days.
Featured image from Pexels, chart from TradingView
