Multiple favourable information for DOGE has exploded: Musk's advocacy triggered a rebound, and the foundation's acquisition of a football team accelerates DOGE's real-world application.

Driven by a social media post from Elon Musk, the price of DOGE surged by 2.5% to $0.20, continuing an astonishing 55% rebound from its lows. Technical analysis shows that DOGE is forming a strong “Adam and Eve” double bottom bullish pattern, with a neckline at $0.216; once broken, it may trigger a short positions squeeze, targeting $0.260. Meanwhile, the commercial division of the Dogecoin Foundation, House of Doge, announced the acquisition of a majority stake in an Italian football club, officially integrating DOGE into the European sports fan economy, significantly expanding its real-world utility.

The Musk Effect Reappears: Price Breaks Through $0.20, Bullish Confidence Recovers

· Celebrity effect drives rebound: After Elon Musk posted a picture with the DOGE Shiba Inu mascot on the X platform, the price of DOGE immediately rose by 2.5% to $0.20. This round of rise successfully rebounded DOGE from the low of $0.13 since April, achieving a 55% increase in just two weeks. Musk's social media activity has always been an important catalyst for the price of DOGE, which previously soared to nearly $0.73 in 2021.

· Buyers regain control: Although DOGE experienced a pullback after reaching a high earlier this month, the latest price trends indicate that buyers are regaining control, ending weeks of selling pressure. Analysts believe that $0.20 is a key price floor for DOGE, and the price must remain above this level to confirm the continuation of the bullish momentum and open the path for a rise towards $0.25.

Technical Analysis: Double Bottom and Short Positions Squeeze Brewing 25% Rise

(Source: TradingView)

· “Adam and Eve” double bottom pattern: DOGE is forming an “Adam and Eve” double bottom pattern on the technical chart. This V-shaped decline followed by a rounded recovery structure is a classic bullish reversal signal. The neckline of this pattern is at $0.216, and once the price successfully breaks through and holds, based on the measurement projection of the pattern, it is expected to push the DOGE price up by 25%, targeting $0.260.

· Confirmation of Multiple Technical Indicators: The target level of $0.26 coincides with the 0.382 Fibonacci retracement level on the DOGE weekly chart, forming a strong technical confluence zone. At the same time, DOGE is gaining support at the intersection of an upward trend line and the 0.236 Fibonacci line, indicating that buyers are actively defending the lower price range. Additionally, the RSI indicator is also showing a reverse head and shoulders breakout on the 4-hour chart, suggesting a strong continuation of bullish momentum.

· The futures market's short positions face liquidation risk: Futures market data shows that there is a large concentration of short position liquidation zones between $0.215 and $0.27. Due to the relatively flat bullish liquidation level below, it indicates that the current downside risk is limited, while the dense short positions create significant potential for triggering a short squeeze. Once it breaks through $0.216, the forced buyback behavior of shorts will accelerate DOGE's price surge towards the $0.26 target, forming a liquidation cascade and providing additional momentum for the rebound.

Foundation Strategic Layout: Acquisition of Football Club to Expand Application Landscape

· First foray into European football: The commercial arm of the Dogecoin Foundation, House of Doge, announced on October 20 that it has partnered with Brag House Holdings to acquire a majority stake in the Italian Serie C team U.S. Triestina Calcio 1918. This marks DOGE's first large-scale entry into the European football market.

· Promoting Real-World Payment Systems: This investment aims to provide capital support for football operations, and most importantly, to integrate DOGE into fan interactions and the actual operations of the club. House of Doge plans to introduce a cryptocurrency payment system during home matches, allowing fans to use DOGE to purchase tickets, merchandise, and licensed products to enhance the match day experience and increase the utility of DOGE in mainstream sports culture.

· Enhancing institutional credibility and brand awareness: This acquisition aligns with the industry trend of cryptocurrency companies investing in sports clubs. In addition, House of Doge has partnered with a mainstream CEX to custody its $175 million DOGE reserve, which helps to enhance institutional trust in DOGE. This series of actions indicates that DOGE is actively building community relevance and long-term value, aiming to break its label as a mere meme coin.

Conclusion

Under the short-term catalyst of Musk's post, the price of DOGE successfully broke through the key threshold of 0.20 USD, and the technical analysis formed a bullish reversal pattern. More significantly, the House of Doge Foundation provided DOGE with a new channel for application and exposure in the real world through the acquisition of a European football club. This combination of speculative enthusiasm and practicality expansion injects strong confidence into the subsequent trend of DOGE. Investors should closely monitor the breakthrough of the 0.216 USD neckline to determine whether DOGE can successfully trigger short positions and start a new round of strong rise.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions cautiously.