Thumzup Media’s $10 million stock buyback and its move into Dogecoin mining have stirred fresh interest in DOGE, but traders are watching price action closely for confirmation before calling a rally.
Market Tests Key Trend Line
Reports have disclosed that DOGE recently pulled back to a demand zone that matches the 200-day exponential moving average (EMA). That area is being watched as a make-or-break spot.
A solid bounce from here could push Dogecoin toward $0.29 in the near term. If buyers push through the rising wedge pattern, a move to $0.40 is the next clear target.
Some traders say a run to $1 is possible if momentum picks up sharply, though that would require sustained buying pressure over time.
Thumzup announces $10 million share repurchase program, reflecting confidence in our long-term strategy and our commitment to delivering value to shareholders.
We also 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 bought DogeHash Technologies and expects the unit to own 3,500 mining rigs by year-end. The firm also holds 19 BTC and 7.5 million DOGE, the latter valued at about $1.7 million in recent reports.
Donald Trump Jr. is listed as a majority shareholder of Thumzup. He is the son of US President Donald Trump, which has drawn extra public attention to the firm’s crypto moves. The buyback, set at $10 million, was described by executives as a sign they see value in the company’s shares.
Institutional Demand And Treasury Moves
Separate filings and disclosures show other firms are quietly building up Dogecoin stakes. Reports say CleanCore holds 600 million DOGE in a treasury program and plans to keep buying with an aim to reach 5% of the circulating supply.
Treasury accumulation of that scale would remove a large chunk of coins from active trading, if the purchases continue. The launch of the REX-Osprey Dogecoin ETF has also been cited by market commentators as another source of growing institutional access to DOGE.
Developers Push Protocol Upgrades
Based on discussions in developer circles, there are proposals to add native verification of zero-knowledge (ZK) proofs to Dogecoin. That change would open the door for Layer-2 chains and apps that act more like smart contracts.
Some of the proposals also include ways to introduce token burns tied to usage fees. If implemented, such changes could create new supply dynamics that would affect DOGE’s investment case. But these ideas are at the proposal stage and would take time to move from plan to live code.
What Traders Should Watch
Volume, ETF flows, and whether Thumzup expands mining as promised will be key indicators to follow. Technical levels around the 200-day EMA and the rising wedge boundaries will matter for anyone sizing up short-term risk.
Institutional interest and actual protocol changes would be the bigger, slower forces that could reshape Dogecoin’s story over months rather than days.
Featured image from Pexels, chart from TradingView
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