Why Dogecoin Is Soaring Today
Key Takeaways
Dogecoin (DOGE 4. 91%) is on the rise today, up 7. 3% over the past 24 hours as of 3 p. The rise comes as the S&P 500 gained 0....
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cryptocurrency
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July 10, 2025
03:09 PM
The Motley Fool
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Dogecoin (DOGE 4. 91%) is on the rise today, up 7. 3% over the past 24 hours as of 3 p
The rise comes as the S&P 500 gained 0. 3% and Bitcoin gained 1
Thumbzup, a media company that has recently adopted a Bitcoin accumulation strategy, announced its board has apved adding additional crypto assets, including Dogecoin
More crypto assets for this small company Though Thumbzup is a very small company with a market capitalization of just $90 million, the news is market-moving because President Donald Trump's son, Donald Jr. , just took a significant stake in the company
The new direction Thumbzup has chosen, accumulating Bitcoin as a major treasury asset through equity sales and taking on debt, s in the footsteps of Michael Saylor's MicroStrategy and several other companies
It seems Thumbzup believes there is value in moving beyond Bitcoin, although it hasn't confirmed it will do so
Image source: Getty Images
Ups and downs for Dogecoin While it's almost never a quiet time in the world of crypto, Dogecoin has been on a particularly wild ride over the past year
The unofficial "Dogefather" and champion of the company, Elon Musk, sent the coin flying when his backing of Trump's campaign paid off and he was given a place inside the new administration
The coin has tanked since Musk and Trump's relationship has soured
It's a perfect encapsulation of why this is not an asset to invest in
This is a meme coin, pure and simple
It relies almost entirely on hype
Investors would do well to stay away
Johnny Rice has no position in any of the stocks mentioned
The Motley Fool has positions in and recommends Bitcoin
The Motley Fool has a disclosure policy.
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