Dogecoin surged 35.1% over the last week of trading, based on data as of 3 p.m. ET on Sunday. The Dogecoin rally came as the U.S. House of Representatives passed the GENIUS Act. President Donald Trump signed the Dogecoin-related legislation into law on Friday.
The GENIUS Act creates the first U.S. federal framework for regulating stablecoins. It sets reserve requirements and licensing standards for issuers. While Dogecoin is not a stablecoin, the law increased interest in the wider crypto sector.
During the signing, President Trump made public remarks that signaled support for the digital asset market. These statements coincided with rising prices across several altcoins, including Dogecoin. The Dogecoin legislation was part of a broader event titled “Crypto Week” in the U.S. Congress.
Clarity Act Clears House Vote, Affects Dogecoin Legislation
Alongside the GENIUS Act, lawmakers also passed the Clarity Act in the House of Representatives. The Clarity Act aims to define which digital assets fall under the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
The bill has not yet become law. It still needs to pass in the U.S. Senate. If approved, it would limit the SEC’s oversight in certain parts of the crypto market.
Dogecoin surged after both pieces of legislation progressed. The Dogecoin rally reflected the wider altcoin movement, which also included gains in Ethereum. Bitcoin, by contrast, recorded a 0.5% drop during the same week.
Ethereum rose 25.3% over the same period. The Dogecoin surge stood out as stronger than most top-20 tokens. The Dogecoin legislation was one of the central reasons for this week’s momentum, especially after the House votes and the signing ceremony.
Bit Origin Adds Dogecoin to Treasury Plans
Bit Origin announced that it will include Dogecoin in its corporate treasury strategy. This move came after the company secured $500 million in new funding. Reports stated that part of this capital will be used for cryptocurrency holdings.
The Bit Origin Dogecoin allocation was not disclosed in detail. However, the statement confirmed that Dogecoin is part of the plan. Dogecoin treasury strategies are rare compared to Bitcoin or Ethereum holdings, so this update attracted attention across market channels.
The Bit Origin Dogecoin announcement contributed to trading volume spikes. The Dogecoin rally aligned with broader movements in meme tokens and altcoins following the new laws.
As of Sunday, Dogecoin’s token remains down 65% from its all-time high. However, last week’s activity marked one of its strongest single-week performances in 2025. The Dogecoin surge was driven by multiple events: GENIUS Act passage, Clarity Act advancement, and the Bit Origin Dogecoin treasury update.
Dogecoin Forms Bearish Rising Wedge, 14 Percent Drop Possible
On July 21, 2025, a 4-hour chart for Dogecoin (DOGE/USD) on Coinbase showed a clear bearish rising wedge pattern. The image, created at 10:54 UTC, outlines the rising wedge with two red converging trendlines. This structure formed as Dogecoin’s price rose steadily from around $0.15 in early July to a local high of $0.27944.
A rising wedge pattern typically appears during an uptrend but signals a possible reversal. It forms when the price makes higher highs and higher lows within narrowing trendlines. However, once the lower support line breaks, the setup often leads to a downward move.
In this chart, the wedge pattern appears to have peaked near $0.279, and price started to retreat, now trading around $0.27122. The 50-period Exponential Moving Average (EMA) stands at $0.22974, with a horizontal support zone shown around $0.23372.
If Dogecoin confirms a breakdown from this wedge, the chart suggests a possible drop of approximately 14 percent from the current price. This move would bring DOGE down to the projected target near $0.233—exactly where the support and EMA lines intersect.
The recent volume bar at the bottom of the chart shows activity at 87.02M, adding to the context. The decline, if confirmed, could erase gains from the last breakout near mid-July. The technical setup shows that unless Dogecoin reclaims higher levels and breaks above the wedge, pressure may continue building on the downside.
This wedge, combined with volume spikes and narrowing price action, gives a clear visual of current short-term risks. If price closes below the lower trendline on increased volume, the estimated correction zone near $0.233 could come into play.
Dogecoin RSI Enters Overbought Zone, Signals Cooling Risk
The Dogecoin (DOGE) Relative Strength Index (RSI) chart, created on July 21, 2025 at 11:04 UTC, shows the RSI (14) line at 72.79 with its moving average at 71.09. These values place Dogecoin clearly in the overbought territory, which begins at the 70 level on the RSI scale.
The RSI is a momentum indicator that measures how fast and how much the price of an asset is changing. When the RSI rises above 70, it often signals that the asset has gained too quickly in a short period. This condition increases the chance of a short-term pullback or consolidation.
Looking back across the chart timeline, Dogecoin’s RSI has hovered below the 70 mark for most of the month. It briefly crossed into the overbought zone around July 11, then dropped, and re-entered the zone just before July 21. This repeat movement shows strong upward momentum but also adds pressure for a cooldown.
At the same time, the RSI moving average (yellow line) is trailing just below the main RSI line. This indicates continued momentum, but the small gap between the two suggests that strength may be flattening out. If the RSI starts falling back below 70, it could confirm a shift in momentum.
This RSI reading aligns with the earlier wedge pattern seen on the Dogecoin price chart. Both indicators now show signs of overextension. The RSI now stands at the second-highest level in the last three weeks, pointing to a likely period of reduced buying pressure.
