Trump‑linked Dogecoin mining acquisition and Fed signaling boost DOGE by 5%

Dogecoin Jumps 5% on Trump-Linked Mining Acquisition, Wyoming Stablecoin Debut, and Fed Shift

Dogecoin rallied sharply Tuesday as political, regulatory, and institutional forces aligned to drive renewed interest in the crypto sector. A $50 million mining acquisition tied to former President Donald Trump, the launch of a U.S. state-backed stablecoin, and increasingly supportive rhetoric from Federal Reserve officials fueled the price surge.

Key Developments:

• Thumzup Buys Dogehash: A Trump-affiliated company, Thumzup, acquired Dogehash in a $50 million deal, forming what it described as the world’s largest DOGE-focused mining operation — signaling growing institutional confidence in Dogecoin infrastructure.
• Wyoming Issues State Stablecoin: The state introduced the Frontier Stable Token, marking the first state-backed stablecoin in the U.S., a milestone for regulatory innovation in digital assets.
• Fed Takes Softer Tone: Vice Chair Michelle Bowman warned that banks risk falling behind in innovation if they delay digital asset integration — a marked pivot from previously cautious messaging.
• SoFi Embraces Lightning Network: SoFi Technologies activated support for Bitcoin’s Lightning Network, positioning itself in the $740 billion remittance market and signaling deeper fintech-crypto convergence.

Market Reaction:

• DOGE traded in a tight $0.21–$0.22 range from Aug. 20–21, with a 5% rally pushing the token to test resistance at $0.22.
• A late-session rally on Aug. 21 (13:22–14:21 UTC) drove DOGE up 1% with volume spikes above 61.8 million, indicating institutional participation.
• Support at $0.21–$0.22 held firm across multiple high-volume retests, reinforcing it as a key accumulation zone.

Technical Snapshot:

• Support: $0.21–$0.22
• Resistance: $0.225–$0.23
• Volume: Surged to 378.6 million during key moves
• Structure: Breakout from short-term consolidation with bullish continuation potential
• Futures OI: Steady at ~$3 billion, suggesting durable interest despite macro uncertainty

What Traders Are Monitoring:

• Break above $0.225 as confirmation of bullish momentum
• Broader sector response to Wyoming’s stablecoin launch and evolving Fed stance
• Whale wallet activity, which has accumulated 2B DOGE (~$500M) this week
• Impact of Thumzup’s mining deal on hash rate concentration and DOGE network dynamics

With momentum building across policy, infrastructure, and sentiment, DOGE’s recent rally may mark the early stages of a broader reacceleration in the memecoin space.