In July this year, the performance of DOGE was remarkable, with a cumulative rise of over 77%, successfully breaking through several technical resistance levels and leading in the memecoin zone. The continuous increase in volume and the obvious inflow of funds, coupled with institutional participation, have collectively driven DOGE into a strong pump channel.

From a technical analysis perspective, DOGE has completed a standard 'cup and handle' breakout on the daily chart, which is widely regarded as a strong bullish signal. According to the analysis, if this pattern is confirmed, the theoretical rise could reach 165%, with a target price potentially reaching $0.70. The current Money Flow Index (MFI) has reached 89.12, indicating sustained net inflows of capital and strong buying momentum.

In terms of institutional support, Bit Origin Ltd announced the completion of a $500 million financing to establish a 'DOGE Treasury', advancing the monetization strategy for DOGE. This plan aims to enhance the liquidity and practical application scenarios of DOGE, helping its transition from 'memecoin' to 'functional coin'.

In terms of short-term goals, DOGE has broken through the key resistance level of $0.25. The next target is $0.33, followed by $0.357, which is considered a critical watershed. If it can break through $0.357, DOGE has the potential to challenge $0.41, or even $0.70. On the downside, support may be provided between $0.21 and $0.17.

It is worth noting that the current rise of DOGE is no longer solely driven by sentiment, but rather the result of multiple factors including technology, capital, and institutions. $0.357 will be a key testing point, and if successfully broken, it could initiate a new bull market cycle.

Overall, DOGE is in a state of resonance with multiple favourable information factors, and the rise logic is clear. Investors should closely monitor its price movements, especially the breakthrough of key resistance levels, while also being cautious of potential retracement risks.