Dogecoin Surges As New US Crypto Law Fuels Altcoin Rally
Dogecoin (CRYPTO: DOGE) is leading a market-wide surge in altcoins, jumping approximately 37% over the past week. Here’s what traders and investors need to know.
What To Know: The popular memecoin broke past the 27-cent mark Monday as its 24-hour trading volume soared 56% to over $6.1 billion, signaling strong trader interest.
The rally follows a pivotal development in U.S. crypto policy. Last Friday, President Donald Trump signed the GENIUS Act into law, establishing the most significant regulatory framework for digital assets to date.
The legislation provides long-awaited clarity, prompting a broad reassessment of the crypto market and sparking a rotation of capital from Bitcoin (CRYPTO: BTC) into higher-beta assets like Dogecoin.
Crypto analyst Ali Martinez meanwhile identified a technical breakout for $DOGE, projecting potential price targets of 33 cents and 40 cents if it maintains its current support level around 25 cents.
Adding to the fundamental case, the rally was further bolstered by news that Nasdaq-listed Bit Origin’s plans to establish a Dogecoin treasury, making it the first publicly traded company to designate the memecoin a core reserve asset.
Price Action: Dogecoin is trading marginally higher Monday afternoon. The altcoin is higher by some 37% to the 27-cent level over the past week.
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