TLDR
- Thumzup Media purchased 7.5 million Dogecoin tokens worth approximately $2 million
- Donald Trump Jr. holds 350,000 shares of Thumzup Media
- Thumzup plans to set up 3,500 Dogecoin mining rigs by year-end through Dogehash acquisition
- First Dogecoin ETF (DOJE) set to begin trading on Thursday
- Analysts predict Dogecoin could reach $0.45 short-term and potentially $0.60 if momentum continues
Dogecoin is experiencing renewed market interest as Thumzup Media Corporation makes a major investment and the first Dogecoin ETF prepares to launch.
Thumzup Media announced on Thursday its first open-market purchase of Dogecoin, acquiring approximately 7.5 million tokens valued at $2 million. The company paid a weighted average price of $0.2665 per token for the purchase.
$DOGE has rallied nearly 40% in one week, crushing the market’s 8% rise.
Momentum and on-chain data hint that this run may be far from over.
Here’s why some chart setups now point toward $0.60 🧵👇 pic.twitter.com/zXmTpkhAtm
— Edward (@Defi_Edward) September 15, 2025
This move follows Thumzup’s earlier announcement this month about plans to establish 3,500 Dogecoin mining rigs before the end of the year. The company intends to accomplish this through its pending acquisition of mining firm Dogehash.
Thumzup Media has been building its crypto presence steadily. The company launched its crypto treasury in January with a $1 million investment in bitcoin. In July, its board authorized the company to hold up to $250 million worth of cryptocurrencies.
The Nasdaq-listed firm has also been strengthening its leadership team. This week, it appointed Jordan Jefferson, DogeOS CEO and MyDoge Leader, and Alex Hoffman, head of ecosystem at DogeOS, to its Crypto Advisory Board.
Market Reaction and Price Predictions
The cryptocurrency market is watching Dogecoin closely as technical indicators suggest potential for further gains. Crypto trader Defi Edward noted that Dogecoin has shown strong performance compared to the broader market over the past week.
Technical analysis indicates a breakout from a multi-month symmetrical triangle pattern, supported by tripled trading volumes. This setup points toward possible upside targets of $0.45 in the near term.
Some analysts are even more optimistic, suggesting Dogecoin could reach $0.60 based on measured move calculations. The key support level to watch is around $0.227, which corresponds to the 50-week exponential moving average (EMA).
The Relative Strength Index (RSI) remains below overheated levels, and the MVRV Z-Score sits at just 1.35. These conditions resemble those seen before last November’s 230% surge in Dogecoin price.
Altcoin Sherpa, a crypto analyst, describes Dogecoin as a “momentum and liquidity-driven beta play.” This means if Bitcoin moves higher, large-cap meme coins like Dogecoin typically see amplified upside. However, he cautions that losing key support levels could quickly reverse the bullish outlook.
ETF Launch and Trump Connection
Adding to the positive sentiment, the first U.S.-listed Dogecoin spot ETF is set to launch. The REX-Osprey DOGE ETF, trading under the ticker DOJE, begins trading on Thursday. This development could potentially boost both institutional and retail interest in the cryptocurrency.
Thumzup Media has also drawn attention due to its connection with Donald Trump Jr., son of President Donald Trump. According to reports, Donald Trump Jr. holds 350,000 shares of the company. Bloomberg reported that he acquired the stake on the advice of an investment advisor and has no other involvement with the company.
Thumzup’s stock closed Wednesday’s session down 7.7% at $4.61 per share but ticked up about 4.5% after hours following the Dogecoin purchase announcement.
The price of Dogecoin currently stands at $0.28, showing continued market interest in the cryptocurrency originally created as a joke but now gaining more mainstream attention through corporate investments and ETF launches.
Thumzup’s expansion in the crypto space follows its offering of $50 million of common stock in August, priced at $10 per share. The company appears to be diversifying its crypto holdings while also investing in mining infrastructure.
